New Study Predicts Half Of UK Farms To Go Bankrupt In Case Of No-Deal Brexit
Fahad Shabbir (@FahadShabbir) Published August 15, 2019 | 05:35 PM
A no-deal Brexit could hurt UK farmers due to future EU tariffs coupled with the potential lack of domestic support, a report commissioned by the People's Vote campaign showed on Thursday
MOSCOW (UrduPoint News / Sputnik - 15th August, 2019) A no-deal Brexit could hurt UK farmers due to future EU tariffs coupled with the potential lack of domestic support, a report commissioned by the People's Vote campaign showed on Thursday.
The People's Vote is an anti-Brexit campaign group advocating for a new referendum on the final divorce agreement between the United Kingdom and the European Union.
"The combination of the removal of support payments - only a proportion will be made up by enhanced environmental payments - and an adverse trading environment will render the majority of farm businesses unviable. By the mid-2020s a large proportion of farm businesses - 50% or more is not an unreasonable estimate - recognising that they face an unprofitable future will decide to cease trading," the report said, as cited by The Guardian newspaper.
In 2016, the United Kingdom voted to leave the European Union on March 29, 2019. However, due to former Prime Minister Theresa May's failed efforts to secure an acceptable agreement with Brussels, prospects for a no-deal Brexit are becoming more realistic. Boris Johnson, May's successor, has made clear his willingness to go down that route.
Anti-Brexit campaigners have consistently been warning of various dramatic consequences that could result from the United Kingdom's exit from the European Union without a deal.
Related Topics
Recent Stories
Israel carries out attack inside Iran, report US media
Saudi Assistant Minister of Defence calls on army chief
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 19 April 2024
Today Gold Rate in Pakistan 19 April 2024
Rock-solid Ruud racks up season-leading win in Barcelona
At UN, Iran says it will make Israel 'regret' reprisals
G7 hears calls for 'critical' Ukraine aid
EU seeks to leverage might to confront China, US challenge
5 Customs officials martyred as their vehicle ambushed by terrorists in D I Khan
Pak-New Zealand match called off due to rain
NHA restores traffic on roads affected by recent rains in Balochistan
China to fully support Pakistan's efforts against terrorism: Ambassador Jiang
More Stories From World
-
Sodexo sees sales rise in 2024 as it gears up for Olympic meals
3 minutes ago -
Threatened by Russia, will the EU do enough to fund defence?
13 minutes ago -
Beijing half marathon top three stripped of medals: organisers
33 minutes ago -
28 Syrian pro-govt forces killed in IS attacks: monitor
33 minutes ago -
Taylor Swift's 'The Tortured Poets Department' drops
1 hour ago -
'Ancient Roman' solar roof tiles power Pompeii villa
1 hour ago
-
Ukraine says eight killed in overnight Russian strikes
2 hours ago -
Meta releases beefed-up AI models
2 hours ago -
Ukraine says downed Russian long-range strategic bomber
2 hours ago -
Israel carries out attack inside Iran, report US media
2 hours ago -
IAEA says 'no damage to Iran's nuclear sites'
3 hours ago -
The flamenco dress, an Andalusian classic evolving with fashion
3 hours ago