A new paper by the Institute of Economic Affairs highlights that UK consumers are overpaying for electronics, beauty products, pharmaceuticals, and books due to restrictions on parallel imports. These rules prevent access to cheaper goods from outside the EU, maintaining artificially high prices set by manufacturers. Authors argue that lifting these restrictions would reduce costs, increase competition, and allow for better supply chain flexibility, especially for essential medicines. The paper draws on evidence showing potential savings of nearly £820 million for the NHS. The ongoing limitations are seen as outdated in a post-Brexit context and may violate WTO rules.
"The current parallel import restrictions are holding UK consumers captive to higher prices, and by allowing a market solution, we could significantly lower costs across essential sectors."
"Evidence shows that lifting these restrictions would not only lower prices but also enhance consumer choice and improve the overall supply chain for essential goods."
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