Odds on Fuel Shortages and Food Rationing After No Deal Leak
The UK is charging towards their October 31st Brexit deadline with No Deal a very real possibility.
Boris Johnson’s Conservative government insists a withdrawal agreement can be reached with the EU — but they are preparing for No Deal just in case.
And a paper outlining possible food, fuel and medicine shortages was was leaked to the Sunday Times over the weekend, highlighting just how problematic No Deal could be.
The paper – known as Operation Yellowhammer – warned of immediate customs issues at UK borders and ports, which would impact on supply chains across the country.
And the Brexit betting markets have reacted to this with updated odds on how the UK could be affected.
Fuel To Be Rationed First?
Bookmakers Betfair have a market on which commodity the UK government will officially ration first. Fuel has shifted from 7/1 when the market opened to the 4/1 favourite now.
The Freight Transport Association (FTA) is said to have reacted with ‘alarm’ at the possibility of fuel shortages, having had no word of this from the government.
While the UK has grown more sustainable with its own energy consumption in recent decades, petrol-driven transport still forms the backbone of the nation’s economy.
The last serious fuel shortage was back in 2000 when the population protested against the rising prices of petrol. In 2012, fears over strike action also caused people to panic buy fuel.
While fuel prices have roughly stayed the same over the past 12 months, the issue of No Deal could significantly impact on supply, while demand will remain high.
Food Rationing During Brexit
As for food, the UK is largely self-sufficient in milk but a ration on the product is priced at 12/1.
Paddy Power have priced olive oil as the first rationed commodity at 16/1, while coffee – all of which is imported from overseas – is priced at 20/1.
Beef saw a huge drop from 50/1 to 20/1 amid possible concerns over the labour shortage in agriculture when the UK leaves the EU.
As for wine – most of which is imported – both red and white are 33/1 to be rationed first, while champagne is 125/1, suggesting there is little appetite in government cutting down on fizz.
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