The Brexit effect on wine

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Agreed, it’s not the most important of the myriad of repercussions following the UK’s vote to leave the EEC! However, it’s more important than we perhaps realise, and not just for we consumers.

My thanks here to Jancis Robinson and her guest writer Simon Reilly (www.wineloon.com), whose article is one of those I’ve used as research.

Firstly, let’s look at what is likely to happen in the UK regarding Spanish wine, and of course, all wines made in Europe. Post-referendum, the pound immediately took a dive, instantly making important goods more expensive. There has been something of a rally since and the Chancellor has lowered rates declaring that the UK is ‘still open for business’.

However, the pound is still low and pundits apparently believe it will stay so. So, the cost of importing a bottle of Spanish wine will increase – and you can guess who’ll have to foot the bill! Yes, the UK consumer – our friends and family, as well as us, when we return.

A likely outcome is that demand will fall, so the choice of Spanish wines in the UK, already not so impressive (yes, the big names are there in abundance but when one looks at what’s on offer in the UK supermarkets and compare this to what’s available here, it’s a paltry choice) will be worse.

Read more in this week’s print edition or go to e-paper

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