Brexit:
A golden opportunity
A golden opportunity
Brexit is a golden opportunity for businesses like Tate & Lyle Sugars.
Being in the EU has hit Tate & Lyle Sugars hard – and cost British jobs. The EU imposes prohibitively high import tariffs and protectionist sugar and trade policies. These discriminate against cane sugar refiners like us in favour of EU beet sugar producers.
But after Brexit, we can have a level playing field in the UK sugar market. This will be a real success story for a UK industry and a much-loved British brand.
Consumers will also win because competition will deliver a bigger choice of more innovative products. A more competitive UK market can also boost our exports.
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“Brexit means we can move from downsizing and job losses to growth and more investment – it’s a golden opportunity for us.”
Gerald Mason, Tate & Lyle Sugars
How being in the EU hit Tate & Lyle Sugars:
EU policies force Tate & Lyle Sugars’ to pay as much as £2.5 million in tariffs to Brussels on each boat of cane sugar we buy – a cost EU beet sugar producers don’t face.
Our London refinery has halved in size since 2009, costing jobs and livelihoods.
The overall cost to the UK economy is £50 million per year in lost added value.