Once the food industry executives have come to terms that we really are going to leave the European Union, they will find so many opportunities they will wonder why they ever voted to stay.
Sadly, so much has been about self interest and preservation of the status quo, which limits the downside risk. But success has been built on risk and seizing opportunities as they arise.
As a farmer with more than 1,000 acres of cereals under management, you may wonder why I and so many other farmers sacrificed the benefits of the CAP (in my case about £100,000 pa) and an endless supply of cheap Eastern European workers to vote Leave.
The answer is quite simple. Freed from the control of Brussels, we can do so much more to create a farming community that feeds the nation, manages the countryside and adopts the use of science to improve land productivity based on evidence not politics.
Farming is always dependent on the weather and interference by politicians who distort markets so we will never have a level playing field. However, we will always welcome those that want to play their part in delivering our vision - just in a way that we control. Defra has the chance to create a support package fit for purpose with the help of the NFU. The future could not be brighter for the agricultural sector.
So what’s in it for the food manufacturers? We start from a position of strength. Our industry is world class. We excel in innovation and skills; we have all that is needed to create an international business.
European consumers will want our products if they deliver. Food tariffs will hurt them. The pound is too high. Why are we so obsessed with this? A weaker pound will boost exports, help our hospitality industry and translate overseas earning into more pounds.
Do we really care about a bit more inflation? It will help everyone. The biggest risk to our success is the interference of politicians in prescribing what we should eat, how it’s labelled and what it contains. Set free, once again we can make rational decisions based on science and evidence without having to get it approved by Brussels.
And forget uncertainty. We are told the City hates it. In fact, they love it as it makes markets move and that is how they make money. As chairman of Fengrain, which trades close to 1 million tonnes of cereals, I can tell you, like McDonald’s, we’re lovin it!’
But overriding all this is an independent UK food industry that has the potential to significantly outperform the rest of the EU by being flexible, responsive and innovative. The ability to make quick, simple and effective decisions will ensure we show them a clean pair of heels.
This is where Defra can play a vital role in the exit negotiations and creating an environment where excellence can prevail.. We need to see a much more connected relationship with the food supply chain to work towards a common objective.
I just hope our food industry captains are up for it - though sadly I am not sure they are.
Paul Wilkinson is chairman of Fengrain and a former MD of British Bakeries at RHM
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