In a recent poll, 54% of the British public said that a no-deal Brexit was likely and 70% believe that prices will rise as a result. The UK government intend to push the first batch of notes on a no-deal Brexit soon.
A survey by KPMG made up of over 3,000 people found that all demographic groups believe a no deal Brexit is more likely than not. Overall only 20% said it was unlikely.
The government has been warned that a no deal Brexit would create delays at British ports, make food and medicines harder to get hold of and leave millions of EU citizens in legal limbo, among other potential complications.
KPMG’s poll found that 70% of respondents believed prices would rise as a result of there being no Brexit deal by the time the UK leaves the EU, and 69% said they would change their consumer behaviour accordingly.
Nearly half of respondents said no deal would be bad for the country, while 25% said it would be good.
Scare Stories Aren’t True
The findings of KPMG’s survey come after Dominic Raab, the UK Brexit Secretary, described reports about the chaos that no deal Brexit could unleash on the UK as “hair-raising scare stories” that are “very far from the truth.”
Despite concern that Brexit will make day-to-day life more expensive, there has been no clear shift in opinion on the question of whether the UK should go ahead with its departure, according to KPMG’s poll.
89% Leave voters said they would vote the same way if asked again, while 93% of Remain voters said the same.
Chuka Umunna, a supporter of the People’s Vote campaign for a second referendum, said: “The political establishment is leading our country towards a chaotic no deal Brexit, and the British people are bracing themselves for the impact.
He added: “We are speeding head-first towards a botched Brexit or a no-deal Brexit, and people are preparing to tighten their belts by cutting back on spending as a result.”
The Labour MP added: “If we allow that to happen, the economic ripple effect will be felt for generations. Falling consumer spending would mean shops closing, high streets dying and jobs disappearing.”