Yet another reason why Brexit is causing headaches on both
sides of the Channel. With its exit from the single market comes an exit from
the single wine market, too. Brexit will
come with new tariffs on wine imports into the UK, including a likely end to
the 120 liters of wine that UK nationals can currently bring back duty-free
from other EU countries. Given that the UK imported nearly £1 billion worth of
wine from France in pre-Brexit 2015. The Brits had better hope that global warming
makes for prime wine country within their borders, ASAP.
In the meantime, forward-looking businesses and consumers
are trying to at least build runways to help their supplies last. LVMH has
added four months of wine and spirits inventory (including of its Moët &
Chandon champagne and Hennessey Cognac) to its U.K. stockpiles. Particularly
thirsty consumers are making the three hour road trip to Calais, and even the
five hour trek to the Champagne region itself, to stock up on lower-priced vino.
A temporary insurance provider has created a calculator to help these savvy
consumers calculate just how much they can save, based on today’s prices.
A glass of champagne makes everything better. But what will
Brits do when the go-to panacea becomes the very reason for their pain?
Sources:
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