Food giant Mars have threatened to push their prices up if Theresa May doesn’t get a good deal on Brexit.
The US manufacturer has warned that leaving the EU without a trade deal will push up prices of its chocolate bars, including Mars bars, Snickers and Malteasers.
The food manufacturer makes dozens of household-name products including Mars bars, Snickers, Whiskas cat food and Uncle Ben’s rice.
The company operates globally and employs 18,000 people across Europe, including 3,800 in the UK. It relies on a tariff-free customs to keep costs in their supply chain down.
In a speech to the American Chamber of Commerce to the European Union today, Fiona Dawson who is president of global food, drinks and multisales at the US firm, warned the return of trade barriers would “threaten that supply chain and the jobs that come with it.”
She estimates that confectionery could rise by around 30 per cent, while animal food will go up by 20 per cent, cereals will increase by 15 per cent and fish and fruit prices could increase by over 10 per cent.
She said: “Brexit clearly poses some problems, but the fact is Britain has decided to leave the EU and the task now is to look forward and ensure that the decisions taken from this point forward achieve the most positive outcome for all concerned.“
“The absence of hard borders with all their attendant tariff, customs and non-tariff barriers allows for this integrated supply chain, which helps to keep costs down.
“The return of those barriers would create higher costs which would threaten that supply chain and the jobs that come with it.”
“Unfortunately there is no way that those costs could be absorbed without flowing through to consumers in the form of higher prices.”
