‘Brexit will drive up supermarket prices’ – ex Sainsbury’s boss

The former chief executive of British supermarket chain Sainsbury’s has reportedly warned that Brexit will negatively impact on British consumers.

Justin King, who was Sainsbury’s Chief Executive from 2004 to 2014, said that while putting up prices would be the “last thing” any current head of a supermarket chain would reveal, it was “very clear” that supermarket shoppers would now face “higher prices, less choice and poorer quality”.

King made the comments on BBC One’s ‘Panorama‘.

He told the programme: “Brexit, almost in whatever version it is, will introduce barriers. That makes it less efficient, which means all three of those benefits – prices, quality and choice – go backwards.”

King – a ‘Remainer’ – noted that the weaker sterling will push up prices, while EU membership had previously helped retailers to locate the best suppliers and markets around Europe.

In terms of the current negotiations on Brexit, King reportedly said: “There has been, in my estimation, almost no conversation about the potential impact of Brexit on the food supply chain by definition.”

Sainsbury’s ‘All-British’ policy

Sainsbury’s recently revealed that it now only stocks 100% British lamb in its stores, announcing that it will offer customers “quality, tender lamb” throughout the 2017 season, as well as reaffirming its support for the UK lamb industry.

This is in addition to its ‘100% British’ policy, which includes produce such as eggs, milk, fresh pork, fresh chicken and salmon.

Sainsbury’s is reportedly the second largest supermarket chain in the UK after Tesco, with a 16% share of the market.

A network of nearly 1,000 British farmers – the Sainsbury’s Lamb Development Group – will supply the lamb from this month onwards to supermarkets around the UK.

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