Responding to the Chancellor’s Spring Statement, the Food and Drink Federation’s (FDF) chief executive Karen Betts said that the introduction of a National Food Security Council could help the supply chain react in real time to the ongoing disruption.
On Wednesday 23rd March, Chancellor of the Exchequer Rishi Sunak delivered the Spring Statement that included a reduction in fuel duty on petrol and diesel amid rising costs for the UK supply chain.
Speaking in the House of Commons, Sunak announced several measures as part of the statement, which also included a tax cut for nearly 30 million UK workers via a rise in National Insurance thresholds.
Cut the cost of doing business
Responding to the statement, Betts said: “Today’s ONS figures show prices for food and non-alcoholic drinks rose at the fastest rate since September 2011. This reflects the significant rises in ingredient, raw material and energy costs that food producers have been facing for many months now. All indications are that food price inflation is some way from peaking, and we expect prices to continue to rise for some months to come.
“Food and drink manufacturers, therefore, welcome the measures the Chancellor has announced to ease the cost-of-living crisis for UK households. In addition, we need government to consider other measures to cut the cost of doing business, to help stall rising prices, and stimulate growth such as removing complexity and cost from upcoming regulation.”
She said: “By establishing a National Food Security Council, government can help protect the resilience of the UK’s food producers and our food supply by reacting in real time to disruption as a result of turbulence in global commodity markets and international supply chains.”
Logistics UK and the Association of Independent Meat Suppliers (AIMS) have also responded to the Chancellor’s announcement, providing a mixed reaction to the series of new measures.
This story was originally published on a previous version of the Meat Management website and so there may be some missing images and formatting issues.
