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National Farmers Union: Brexit will Push Up Food Prices and Bankrupt Farmers

April 6, 2016 12:45 PM

In a report published yesterday on behalf of the National Farmers Union the agricultural research institute LEI Wageningen found that under any possible trade deal British farmers would be worse off and prices for shoppers would rise. The report looked at a free trade arrangement with the EU, like the one with Canada widely proposed by "Leave" campaigners, one governed by World Trade Organisation rules and a third variant with lower tarrifs. The report showed that prices would rise by between 5% and 8% under the first two agreements. Under the third, prices would fall but farming would be unprofitable causing farmers to go out of business and production to collapse.