“This Is Chaos” – UK Trucker Shortage Will Inflate Prices Of Goods Ahead Of Christmas

The United Kingdom is short 100,000 qualified truck drivers after tens of thousands of them returned to the European Union during Brexit, and 40,000 heavy goods vehicle (HGV) driver tests were suspended because of the virus pandemic in 2020. The lack of drivers has roiled supply chains, resulting in higher logistical costs that could make the price of food and anything else hauled by trucks more expensive ahead of the holiday season.

The “Winter of Discontent” is starting to become a reality for millions across the world’s fifth-largest economy as a deficit of truckers triggered widespread fuel shortages this week. There’s also been a shortage of natural gas from Russia that has pushed UK wholesale natgas prices to record highs has transformed the country’s power industry into a chaotic mess. Soaring prices and shortages are reminiscent of the late 1970s and may worsen in the months ahead.

The government announced Sunday temporary visas for 5,000 foreign truck drivers to alleviate extremely stressed supply chains, but that may be a hard task to fulfill considering the deficit is so wide. Truckers who spoke with Reuters said their wages are going up because they’re in high demand, and in return, the cost of everything will rise as well. 

nationandstate “This Is Chaos” – UK Trucker Shortage Will Inflate Prices Of Goods Ahead Of Christmas