And in Brexit latest news, stockpiling seems to be a trend that’s taking over Britain! Do you know that one in six Britons are considering storing food for Brexit? And it’s not just food they’re stockpiling… it’s medicine too. So, why are people turning to stockpile in the wake of Brexit?
Surveys show that British citizens are becoming increasingly worried that the UK leaving the EU with no deal will mean hiked prices and leaving supermarkets with shortages of stock and a widespread lack of medicinal products. However, it’s already started with certain medicines and foods products being left off the shelf and becoming increasingly harder to get.
The government has put aside an astronomical amount of 2 billion pounds to fund Brexit planning. Local supermarkets such as Tesco and general businesses are also stockpiling goods. And thousands of households of let standing by, fearful of what a chaotic EU exit will mean for life as we know it in the UK.
Other Interesting Facts that Came Out of Brexit Surveys
The stats are certainly impressive. While they uncovered that one in every six Britons is stockpiling food, other interesting tidbits you might also be interested to know include:
- Men are three times keener to store food than women in preparation for Brexit.
- Out of all age groups, it is the 18 to 24-year-old range that is doing the most stockpiling.
Some Precautions Being Taken in the Lead up to Brexit
It seems that everyone in the UK is being cautious with their finances in the lead up to Brexit, as Britain prepares implementation for Brexit and is set to enter the transitional period at the end of March 2019. Some of the precautions noted include:
- Fewer people are spending money on eating out or participating in leisure activities.
- More people are looking for better, higher paying jobs.
- Many people are changing their scheduled appointments, treatments and operations with the NHS.
- Some families and couples are showing a growing interest in moving abroad.
- Home sales and purchases are being put on hold.
Let’s Get Back to Food Stockpiling
Of course, stockpiling only lends itself to storing cupboard foods. A whopping 30% increase in sales of jarred and tinned items has been seen since the previous year. Other popular items for stockpiling include the favourite staples such as pasta, rice, coffee, olive oil, and flour. It’s not just everyday staples and necessities though- chocolate seems to have made its way on to the list too!
The Reality of Why We’re Doing it
Brexit is a reality and severe worry for many. It could mean that Britain will be out of a lot of our favourite food products by this time next year. Why? The National Farmer’s Union says that Brexit will hinder the seamless flow of goods and stock, especially those from other countries. This could plummet Britain into a time of food, medical and other shortages – this spells trouble for the average household.
Is Stockpiling Food for Brexit a Worth-While Endeavour?
Stockpiling is all relative. While some feel they will be unaffected by Brexit, others will face the harsh reality of it. This is illustrated by the fact that 10% of the population are looking for new jobs. Certainly not an unnecessary task when you consider that Ford Motor Co. and Jaguar Land Rover have said they will need to lay out thousands of employees as sales slow down in Europe. These certainly won’t be the only companies affected and many other lives will feel the full negative impact of a No-Deal Brexit.
If you’re unsure of where your future is headed, stockpiling food and medicine certainly doesn’t seem unreasonable, does it?
Brexit Stockpile Fever
Some people are taking it far further than simply stockpiling a few extra cans of food each week. In Brexit latest news posts iNews, feature stories talk about one particular Briton, Nevine Mann, who has between four and six months of food stored. Nevine has also installed solar panels on the home and created a vegetable patch! And all of this is done in preparation for the 29th of March and Brexit!
How will Brexit Affect your Finances?
The uncertainty of Brexit has caused fluctuations in the economy, so it’s only logical to think that when it comes around, it will have an impact on your finances too. According to the UK Money's website, Brexit will have the following implications:
While some are sure to be losing their jobs in the in the upcoming months, the effect of Brexit in terms of earning potential and opportunities is speculative. If the economy booms and both wages and employment benefits will improve and new job opportunities will abound. If it struggles, it could mean fewer job opportunities, more retrenchments, and lower salaries.
Travel expenses and convenience
Flight prices may increase, especially with budget airlines that might need to make up for the losses the experience with restrictions on specific travel routes. This is because Britain must renegotiate air traffic regulation as part of the revised trade agreement when Brexit comes around.
As part of the EU, Britons are entitled to up to 600 Euros compensation if they experience a lengthy flight delay. There may be no such convenience afforded to British travellers after Brexit.
If you get sick or injured while you travel at the moment, the European Health Insurance Card ensures free or low-cost health care in other EU countries. This may fall away after Brexit.
The cost of your monthly groceries may go up. This is because Britain imports a large amount of its food from EU countries. As an outsider of the European Union, Britain won’t be able to get the same stock quantities at the same prices and the steady flow of goods and food will be hindered. It already is! This is a number one reason why people are stockpiling.
Have you started stockpiling yet? Are you one of the one in six Britons already making preparations for Brexit? Either way, being prepared for the unexpected is essential as Brexit looms. Even if you don’t stockpile, keep an open mind and be prepared for the good and the bad.
If you enjoyed reading this, you might also like: