Karen Connaughton, London Office, Bord Bia – Irish Food Board
Further uncertainty and frustration were highlighted this week in regards to Brexit by John Lewis’ Chairman Charlie Mayfield. In an interview with BBC’s Radio 4, he stated that Britain needs a “serious parliamentary debate” on Brexit. He highlighted the impact Brexit has had on partnership business at John Lewis and Waitrose and that profits halved during the first half of the year.
During the interview, Sir Mayfield highlighted that the effects were “the same for everybody, and the main effects are sterling and confidence”. He further noted that “The reason our profits are down is predominantly that of margin, and cost prices are rising. It’s a very competitive market, retail prices are not rising as fast.”
He added that uncertainty will continue and for businesses, this will make it hard to plan for the future.
The next Brexit talks will commence a week later than planned, the U.K. government said on Tuesday. The decision was decided by both the UK and the EU in order to “give negotiators the flexibility to make progress in the September round”.
This week, European Commission President Jean-Claude Juncker addressed MEPs in his State of the European Union speech in Strasbourg. Mr Juncker used the speech to spell out a major reform package for the EU: with a new push for all applicable member states to join the euro, the expansion of the borderless Schengen area to Romania and Bulgaria, as well as the merger of the presidencies of the European Commission and European Council.
With regards to the EU and Brexit he warned Britain will regret leaving the European Union but “Nonetheless we have to respect the will of the British people, but we will have to make progress, we will move on, because Brexit isn’t everything – it’s not the future of Europe.” In the speech, the President painted a bright picture for the future of the EU and Mr Juncker unveiled plans for a summit to be held on 30 March 2019 – the day after the UK leaves – in order to discuss the future of the bloc.
As uncertainty continues following a lack of progress in negotiations, Irish food and drink manufacturers can prepare for Brexit by focussing on their currency exchange management, supply chain and negotiation skills. Bord Bia is hosting a workshops day – Prepare for Brexit: Currency, Supply Chain and Negotiations. The event is taking place on Tuesday 26th September at 08.30am in Bord Bia Dublin. This event builds on the findings of the Brexit Barometer and four previous Brexit Seminars and marks our commitment to inform and to lead the food industry through the uncertainty and challenges that face us.
This event will address these key issues and outline practical, grounded steps companies can take to mitigate against these risks. A plenary session will include presentations on currency exchange strategy, buyer price negotiation and supply chain logistics and distribution. This will be followed by structured breakout sessions where clients can discuss in depth issues and strategy with the experts.
For further details and to register your attendance, please visit our website here.
