// Sainsbury’s former boss Justin King blames Brexit for rise in food prices
// Bank of England governor Andrew Bailey warned of a “very big income shock” to households
Sainsbury’s former chief executive Justin King has blamed Brexit for the rise in food prices.
The businessman said the issues could be pinned on Britain leaving the EU, although he admitted the pandemic and Ukraine war have added to retail woes.
“The current pressures started with Brexit,” King told Sky News.
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“You’re talking about the prime minister going to Northern Ireland today, the problems at the border in the Irish Sea, of course, are the reality…with many of our trading partners.
“Well in excess of 40% of our food comes from Europe, so it started with Brexit, Covid exacerbated the problems and of course the war in Ukraine and the particular impact it is having on certain commodities will be long lasting and significant.”
It comes as Bank of England governor Andrew Bailey warned of a “very big income shock” to households, and admitted feeling “helpless” in the face of surging inflation.
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He realises that the UK’s rate of inflation right now is less than the EU average, right? It’s also lower than a number of large economies across the rest of the world too, right? Clueless.