Households spend £4bn stockpiling ahead of Brexit

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No-deal Brexit: Households spend £4bn stockpiling ahead of leaving the EU
Around 20% of Brits have started stockpiling ahead a potential no-deal Brexit in October. (Image: PA)
// Spending on no-deal Brexit stockpiling hits £4bn, according to new survey
// Several retailers have already said they have started stockpiling to ensure there are enough goods

The idea of a no-deal Brexit has prompted households to already spend £4 billion on stockpiling goods, a new survey suggests.

Despite this, that amount spent is £600 million less than in the build-up to the original March 31 deadline.

According to a survey by finance provider Premium Credit, around 20 per cent of Brits have started hoarding food, drinks and medicine.

The average spend on stockpiling is around £380 each.

The survey also found that around 800,000 people have spent more than £1000 on stockpiling ahead of the new October 31 deadline.

Prime Minister Boris Johnson has said the UK will leave by then, regardless of whether a deal has been agreed with the EU.

If the UK leaves with no deal, businesses predict there will be short-term supply problems, which the government says it is mitigating.

Similar research in the weeks leading up to the original deadline for the UK to leave the EU found that around 17 per cent of the country spent £4.6 billion stockpiling ahead of March 31.

Several retailers have already said they have started stockpiling to ensure there are enough goods that can only be sourced overseas available on shelves.

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