Britain’s economy continues to flourish as UK-based industries “boom” as a result of its decision to quit the European Union (EU).
In a show of defiance against Project Fear, UK manufacturers are witnessing unprecedented sales as demand for their products grows after Brexit.
Tractor manufacturers are the latest to have benefited from Britain’s European divorce, which was officially initiated by Theresa May in March.
Auctioneers Cheffins, who sell secondhand tractors across the world, have enjoyed the tumble in sterling as it allows them to open up new global markets.
Thanks to the lower prices of their products for international buyers, Cheffins is now able to address farm machinery shortages in developing nations.
Bill King, the company’s chairman, told Farmers Weekly: “At the moment, the buyers are coming, particularly for the high value tractors, from the European continent – particularly Spain and some Eastern European countries as well.
“Some of the older tractors are going to Second and Third World countries. There has traditionally been a strong trade to North Africa and the Middle East.”
Mr King credits the lower price of sterling, which allows new buyers to become involved in markets previously inaccessible to them.
Marek, from Poland, travelled to Britain to take advantage of the prices now available to him after Brexit.
He said: “I came to Britain for the machinery auction. I believe here I can find some good, nice machines with an attractive price.
”However, not everyone is as hopeful for the future. European business leaders have urged the EU to reach a trade deal with Britain, which will allow them to access markets tariff-free after Brexit is complete in 2019.
Italian wine merchants are fearful they will be priced out of the UK market if buyers are forced to pay a premium on European products because of import tariffs.
They claim international wine producers like New Zealand, Australia and Chile will be favoured, because there are more chances the UK will have free trade deals with each country before an EU agreement is reached.
Cesare Cecchi, director of Famiglia Cecchi wine cellar, said: “Clearly the level of taxation is a crucial element because if it increased the price of our wines too much, I mean European ones, they won’t be able to compete with other types of wine.
“Honestly, I am very concerned, above all because of the uncertainty.”
Alex Canneti of Berkmann Wine Cellars, a British wine wholesaler, added: “I warned the Italians, we may have bilateral treaties with Commonwealth countries like Australia, South Africa and New Zealand.
“That will be pretty quick after the two-year negotiations with Europe.”