Tesco dispute shows that Brexiteers are “colliding with economic reality”

Britain’s biggest supermarket is running out of brands including Marmite, PG Tips and Hellman’s mayonnaise, due to a dispute with its largest supplier caused by the post-Brexit fall in the value of the pound.

Tesco is in a dispute with Unilever, which wants the supermarket to increase prices in the UK to compensate for the sharp decrease in the value of the pound. Sterling has now declined by 16 per cent against the euro since the Brexit vote, while it is also at its lowest level against the dollar since 1985.

Commenting for the Open Britain campaign, Stephen Kinnock MP said:

“When the plunging pound stops you from getting PG Tips and Marmite in the supermarket, you’re truly starting to feel the first tremors of Brexit.

“David Davis’s claims that there were no downsides to Brexit are colliding with economic reality. The best thing the Government can do for economic confidence and the pound is to commit now to starting the upcoming negotiations on the basis of securing full and unrestricted access to the Single Market.”