Brexit

What Hard Brexit Means for British Breakfasts

The UK is renowned for its blissfully unhealthy breakfasts and while in reality the country isn't actually awash with the smell of fried bacon and sizzling sausages every morning, the fry-up is an important part of its culture. New analysis by KPMG may then come as a worrying wake-up call as the country prepares to exit the EU - should the UK end up leaving under 'hard Brexit' conditions, the cost of a fried breakfast will see significant cost increases.

If negotiations on trade with the EU fail, the UK will, at least initially, have to fall back on WTO (World Trade Organization) rules, leading to much higher tariffs on some products. Orange juice, for example, would be subject to an estimated price increase of 34 percent. The essential ingredient of bacon would pile on 9 percent and even the oil used to fry everything would go up by 30 percent. Many Brits though, myself included, would question the use of olive oil. Far more common would surely be vegetable oil or a good old-fashioned slab of lard.

While a number of these products could also be sourced locally, the research nevertheless provides a more comprehensible illustration of one of the potential consequences of leaving the union.

Description

This chart shows the percentage increase in cost of English breakfast products with WTO tariffs.

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Potential cost of EU tariffs on food exports from the United Kingdom (UK) to the European Union (EU) in 2015, by product category* (in million GBP)
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Current and potential import tariffs for goods entering the United Kingdom (UK) if no agreement is reached following Brexit as of 2016, by country of origin and product type*
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Percentage change in price of key commodities for the food industry for the weeks following the Brexit referendum in the United Kingdom (UK) in 2016*
Potential ad valorem rate of EU tariffs on dairy exports from the United Kingdom (UK) to the European Union (EU) in 2015, by product*
Average import tariff rate and maximum rate of EU Common Customs Tariff (CCT) 'applied' rates for food to the United Kingdom (UK) in 2016, by product category*
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Which, if any, of the following food items would you want as part of your ideal 'full English' breakfast?*

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