Britons hoard goods worth 4bn pounds amid no-deal Brexit fears

Britons hoard goods worth 4bn pounds amid no-deal Brexit fears [Photo: AP News]
Britons hoard goods worth 4bn pounds amid no-deal Brexit fears [Photo: AP News]

British people have hoarded goods worth four billion pounds (about 4.8 billion dollars) amid fears of a no-deal Brexit, according to a report released on Monday.

Almost one in five respondents to a survey of 1,052 people have begun to increase their stockpiles of food, drinks or medicines, financial services provider Premium Credit said.

According to the survey, 74 per cent of respondents said they were stockpiling food, 50 per cent said they stored pharmaceutical products, and 46 per cent were stockpiling drinks.

Many experts have predicted that a British exit from the European Union (EU) without a comprehensive deal could result in temporary supply bottlenecks, mainly caused by long waiting times for trucks at customs controls.

Prime Minister Boris Johnson has said that he wants to lead Britain out of the EU on October 31 with or without a deal.

He demands that Brussels abandon elements of the existing withdrawal deal agreed by his predecessor, Theresa May.

The EU has rejected this.

Many companies also fear supply bottlenecks.

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Last week, for example, British pizza chain Domino’s announced that it would increase its inventories.

About a third of its ingredients are sourced from abroad, including tomato sauce and toppings like pineapple. (dpa/NAN)

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