Reply to post: Effects of food import tax

2 weeks till Brexit and Defra, at the very least, looks set to be caught with its IT pants down

alain williams Silver badge

Effects of food import tax

good news for farmers, not so good for shoppers

But:

* UK farmers will become richer and thus pay more taxes, so the rest of us will need to pay less tax to 'balance the books'.

* Import tax also means less tax needed.

So at first glance it is good for tax payers, but the benefit will be felt most by the richer who will gain most by any tax cuts (assuming that this happens). Alternatively UK government could spend the extra tax receipts on helping the less well off - cushion them from price hikes.

But: it is all too complicated, and exposed to political whimsy, for anyone to predict with any accuracy.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

Biting the hand that feeds IT © 1998–2019