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Bank of England: Brexit uncertainty causing food price rise & manufacturing slump

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19 Sep 2019
Press Office

Press Office

Brexit uncertainty has caused food prices to rise, job cuts and a manufacturing slump, a Bank of England report warned today

The Bank of England Agents' report, which is based on information provided by employers, published today [September 19, 2019], also warns manufacturing companies are diverting investment to EU operations and planning job cuts. 

Manufacturing contacts also said they were recruiting only to replace skilled labour and were increasingly using temporary staff to handle peaks in demand.


 


Jude Brimble, GMB National Secretary, said:

“These dire warnings show that British industries have absolutely no confidence in the Government’s chaotic approach to Brexit.

“Crashing out of the EU without a deal would cause manufacturing mayhem and make food prices rocket when people can least afford it

“Instead of playing politics with people's lives, Johnson must put UK jobs before furthering his own career.”

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