Industry split on Brexit business impact: Poll

By Shane Starling

- Last updated on GMT

©iStock
©iStock

Related tags: European union, United kingdom

Brexit is generally regarded as bad for business, NutraIngredients readers have said, but some see positives in the UK’s decision to leave the European Union.

About half of 100 respondents from the UK, Europe and elsewhere agreed or strongly agreed Brexit would negatively impact business – but another 40 disagreed or strongly disagreed the impact would be negative. 13 said they did

A bigger percentage – 68 – agreed or strongly agreed Brexit would cause food prices to rise and only 34 said it would lead to less red tape. Only 31 agreed it would open up new markets, 56 disagreed.

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NI poll results

Asked if leaving would lead to supply chain disruptions, 46 agreed, 34 disagreed and 18 didn’t know.

A majority of 57 disagreed Brexit would cause a flood of cheap imports. 29 agreed it would and 23 didn’t know.

55 agreed or strongly agreed the UK would continue 48 agreed Brexit would provoke stiff EU tariffs, with 28 disagreeing and 19 not sure.

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Questions about sales volume reductions, redundancies and skilled labour access were all evenly split.

35 respondents said they would consider locating business outside the UK because of Brexit, compared to 41 who would not and 19 who did not know.

Asked if Brexit would provide business opportunities many said no but some welcomed a potential liberalising of the UK market if EU laws are revoked.

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There could be “less stupid regulation such as banning herbal products etc,”​ said one. Another said a result could be “liberalisation of health claims and potential for a revision of the RDA [recommended daily allowances].”

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