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Food: Prices

Treasury written question – answered on 17th October 2019.

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Photo of Stephen Timms Stephen Timms Labour, East Ham

To ask the Chancellor of the Exchequer, what plans he has for a hardship fund to assist people in greatest difficulty in the event that food prices rise following the UK exiting the EU without a deal.

Photo of Rishi Sunak Rishi Sunak The Chief Secretary to the Treasury

HM Treasury routinely monitors economic conditions and risks, and the Government has a range of mechanisms available to support vulnerable people from price rises in food. We stand ready to take appropriate action in the event the UK exits the EU without a deal.

Furthermore, officials estimate the direct impact of spending decisions on household living standards, and would continue to do so in any no deal response. This is a central consideration when allocating public funds.

The temporary tariff regime, as confirmed on 8 October, took into account, amongst other things, the need to help mitigate any price rises that could affect UK consumers and supply chains. This was a key consideration when setting tariffs on all goods, including food.

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