Brexit will lead to cheaper food if right policies adopted, says OBR official

British households are on course to enjoy cheaper food after Brexit if the UK returns to the system of farming subsidies adopted before joining the European Union, a top official from the Office for Budget Responsibility has claimed. Sir Stephen Nickell said breaking away from the EU’s common agricultural policy (CAP) and returning to subsidies where the UK “traded at world market prices in agricultural products” and compensated farmers to ensure they didn’t “all go bankrupt” could also reduce Britain’s borrowing bill. Asked to describe the possible “positive” aspects of…

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