Britons have spent £4bn stockpiling goods in case of no-deal Brexit

Britons have spent £4bn stockpiling goods in preparation for a possible no-deal Brexit, new research suggests.

One in five people are already hoarding food, drinks and medicine, spending an extra £380 each, according to a survey by the finance provider Premium Credit.

The survey found that about 800,000 people have spent more than £1,000 building up stockpiles before the 31 October Brexit deadline.

If the UK leaves with no deal, businesses predict there will be short-term supply problems, which the government says it is mitigating.

Similar research in the weeks leading up to the original deadline for the UK to leave the EU found that about 17% of the population had spent some money building up supplies, with a total stockpile spend calculated at £4.6bn ahead of the 31 March deadline.

Of the people who are stockpiling, 74% of those surveyed said they had bought extra food, 50% bought medicines and 46% bought drinks.

Brexit-related stockpiling is also hitting cashflow, according to the report, with companies taking out credit to cover the cost of insurance and other fixed costs.

Via The Guardian