Changing Lanes. The impact of different post-Brexit trading policies on the cost of living

Summary:

Changing Lanes examines the impact two no deal Brexit scenarios – reverting to WTO ‘most-favoured nation’ (MFN) or unilaterally reducing all tariffs to zero – on prices and living standards.

The report finds that the average annual household spend would rise by £260, and that over three million families would experience price rises of over £500 a year. In addition, the research shows that poorer households would be most affected by a ‘no-deal’ scenario in which tariffs and prices rose.