UK family shopping bills could rise by £220 a year if Brexit proceeds, PM cautions

David Cameron tells UK consumers that supermarket shopping bills could increase if Britain leaves the EU

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British Prime Minister David Cameron has warned UK consumers that family shopping bills are likely to rise by £220 (€284.45) a year if Britain leaves the EU.

The Irish Examiner reports that according to Cameron, the average family would have to spend an extra £120 (€155.16) a year on food and drink, while another £100 (€129.30) could go on increased clothing and footwear costs. UK Treasury analysis shows the rise in household expenditure would be fuelled by a 10% fall in sterling.

“A vote to leave would hit the value of the pound, making imports more expensive and raising prices in the shops,” the Prime Minister said.

Meanwhile supermarket bosses in the UK have given similar verdicts. According to Asda president Andy Clarke: “A vote to leave represents uncertainty, including on prices. That is why our position in this debate has been clear from the outset – Britain should remain within the EU.”

Former chiefs of Marks & Spencer, B&Q, Tesco and Sainsbury’s have also warned in a Mail on Sunday article that leaving could exert a “catastrophic” impact on the economy, and that other EU countries could potentially “exploit” exit negotiations for their own benefit. For example, the retailers claimed: “It’s difficult to imagine that French farmers will continue to allow British lamb to be freely imported.”

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