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Brexit: Food Prices - Question

Part of the debate – in the House of Lords at 2:51 pm on 14th November 2017.

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Photo of Viscount Hailsham Viscount Hailsham Conservative 2:51 pm, 14th November 2017

My Lords, is it right that the best estimate within my noble friend’s department is that, after Brexit, food prices for the consumer will rise as a result of changes in the exchange rate—and, furthermore, that the income of the farming industry will fall due to an overall reduction in subsidies?