By Sharanya Munsi
British Prime Minister Theresa May is slated to trigger negotiations for Brexit in March 2017, but the people of England have already started experiencing lifestyle changes.
The fallen pound was one of the foremost effect of Brexit as it recorded a three year low value against the dollar. The fallen currency has had far reaching effects for the people of United Kingdom. International travels have become an expensive affair. International tourists, however, saved as much as 40% of their travel expenses by switching their travel destination from Japan to UK in the days after Brexit, reported Bloomberg. Luxury product brands like Burberry saw record sales as foreign tourists made hay of the fallen pound.
For the citizens of United Kingdom, items such as Marmite, a favourite British bread spread vanished from TESCO aisles as TESCO refuted Unilever’s attempt to raise Marmite price. This is just one of the few manifestations of post-Brexit food price rise.
Prior to Brexit, Britain’s dairy industry was facing a crisis due to low milk production, poor grass quality and rising feed costs which lead to shortage of fresh dairy products like mozzarella cheese. The low production and increased export costs incentivized farmers to opt for produces which will reap benefits in the export market. The result has been escalated costs for restaurant and food chain owners for basics such as cheese and chocolate.
The lifestyle effects of Brexit have not just been economical but cultural as well. A study by Institute of Race Relations shows spike in hate crimes post the referendum as within a month of the referendum, 134 racists incidents were recorded in UK.
With special inputs by Alexsandra Ganuszko