Energy, food crises growing in UK, expert says

'We've seen unusual reactions like panic-buying people rushing to get petrol,' Martyn James says

Gökhan Kurtaran   | 14.10.2021
Energy, food crises growing in UK, expert says


Energy and food crises are growing in the UK due to soaring prices and supply chain bottlenecks in the post-pandemic period, according to an expert. 

"The pandemic effectively shuts down a lot of supply chains," Martyn James, money and consumer rights expert at issue resolution service provider Resolver UK, told Anadolu Agency.

He said electronic devices that use chips are also affected since factories were shut down during the coronavirus pandemic.

The pandemic has also negatively affected shipping, James said, as he pointed out to issues arising from Brexit and its repercussions.

"So we're seeing lots and lots of problems to do with getting qualified truck drivers, for example, or people to work in factories processing chickens and turkeys and Christmas dinner, and also actually to do the harvesting," he said.

James stressed that all those factors have come into play at once in this particular time.

"This is a very worrying time for the average man or woman on the street," he said.

"We've seen unusual reactions like panic-buying people rushing to get petrol, even though there is enough petrol to go around, it's just about getting it to the pumps," he added.

James noted that the wholesale price of energy is at its highest recorded level.

"Many of our industries are reliant on electricity, and they don't have caps on to prevent firms from charging what they want. So we're looking at some situations where some businesses might actually have to shut down because it's too expensive to actually stay in production," he explained.

"Now all of this puts a big pressure on the government and its wider negotiating ability with other countries around the world, particularly at a time when we're trying to forge new trade deals. So the outlook is rather grim at the moment," he concluded.  

* Writing by Ovunc Kutlu in Ankara

Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
Related topics
Bu haberi paylaşın