Food sector licks its wounds after Brexit

Undoubtedly, this is one of the most momentous political and economic events that many of us have experienced in our lifetimes. And, as someone who is old enough to have voted to stay in the Common Market in 1975, I find the latest result even more depressing.

I am sad for my country and I am sad for the food and drink industry that I write for – which was pretty clear in pre-referendum polls, that it feared the consequences of a Brexit on its business activity: from fears of rising input costs and lost trade to the problems of labour shortages.

Many young people​

But I am also sad for many young people who, like my own daughter, voted in favour of remaining in the belief that being part of the EU offered them a better future.

Despite accusations of scaremongering from the Leave campaign, about the consequences of Brexit highlighted by Remain –  a falling pound, loss of business confidence and lost exports – have become, alas, all too true. And we’re still only in the very early days.

We can only hope that the efforts of the chancellor and governor of the Bank of England to restore confidence in volatile markets work. However, given the current chaos within all the main political parties and business uncertainty, it seems we are in for some pretty choppy waters ahead.

The UK food and drink manufacturing sector will – no doubt – survive, given its resilience and the widespread confidence expressed in our survey about its future. But, it really didn’t need to be like this.