Brexit just got real.
Those who fretted over the consequences of Great Britain’s decision to leave the European Union back in June are starting to see the real-life impact of the referendum.
Following the revelation this week that Ireland will be assisting the UK with border control, it has also been revealed that supplies of all Unilever goods in Tesco will be in short supply over a price row as the pound continues to fall.
At present, one euro is worth roughly 90p – far more than this time last year. With the pound historically weak, multi-national companies that are supplying UK retailers are seeking to bump up their prices.
Unilever has sought to raise its prices by 10% to reflect the change in the value of the pound, but Tesco has refused to comply resulting in a shutdown of Unilever goods to the popular supermarket chain as of today.
Unilever told Tesco it wanted to up its prices by 10% due to weak £. Tesco refused and so, as of today, Unilever is not supplying them.
— Joel Hills (@ITVJoel) October 12, 2016
Products supplied by Unilever include Persil, Surf, Dove, Comfort, Ben & Jerry’s ice cream, Elmlea, Colman’s, Helmann’s, Marmite, Knorr, Bertolli, Flora, Comfort and Pot Noodle. The Guardian has reported that many of these products have already run out in many Tescos across the UK, and for now they will not be restocked.
This new will adversely affect Irish people living in the North, as well as the many expats based in Great Britain. Former Sainsbury’s boss Justin King has also admitted that supermarkets cannot absorb the costs of the falling price of the pound, and that consumer’s will face higher prices in many supermarkets.
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