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  1. ITV Report

Iceland boss Richard Walker warns no deal Brexit will affect the 'poorest and most vulnerable' in the short term

Iceland's Managing Director has told ITV Wales that a no deal Brexit will be 'turbulent' for the poorest and most vulnerable.

The boss of Wales based food retailer Iceland has told ITV News Wales that in the short term, a no deal Brexit would cause short term turbulence that will hit "the most vulnerable and poorest communities the worst."

Richard Walker said there is a "Westminster bubble" and fears they don't understand the implications that a no deal would create.

But despite the uncertainty and disruption in the short term he said there is "no doubt that we will trade through it."

In the long term he said "hopefully Brexit will be a boom to our domestic agricultural industry."

Richard Walker said Iceland will remain resilient in a no deal Brexit Credit: PA

We are the fifth biggest economy in the world and business is very resilient and we will find a way.

– Richard Walker, Managing Director at Iceland Foods

He said there has been some "scare mongering" in terms of how bad the consequence of a no deal Brexit will be and doesn't think it will be as "good or as bad as either side of the argument makes out."

Some businesses are more dependent on fresh foods than us. Our products keep for longer, last longer and therefore we have a bit more resilient than others.

– Richard Walker, Managing Director at Iceland Foods

When asked about the impact on people's weekly shop he wasn't sure what would happen.

The reality is I can't tell you. The onus is really on the government to start giving us answers and to come up with a thorough plan for all the retail industry and associated supply chain so we can really start to model and assess what the impact will be.

– Richard Walker, Managing Director at Iceland Foods

In an interview with ITV News, Chancellor, Sajid Javid said today that he is feeling confident that "we can get through no deal and be stronger."

He said whether we leave with a deal or not he doesn't plan "on any damage to the economy." This comes after it was announced the UK's economy is shrinking for the first time in seven years.

However he admitted there would be "challenges" to certain industries and sectors if the UK left with no deal.

Sajid Javid dismisses fear of recession despite UK economy shrinking Credit: PA

The Iceland Foods boss said until the government comes up with a plan, all we can do is make some short-term changes and that will come in the form of stockpiling.

He pointed out that a 'Halloween Brexit' is far from ideal for stockpiling.

Iceland Foods said there is no room to stockpile ahead of Halloween Brexit. Credit: PA

We are stock-building in the run up to our peak trading time of Christmas. Therefore there is no surplus warehouse space to stockpile extra in the event of a no deal.

– Richard Walker, Managing Director at Iceland Foods

Mr Walker's main message to its customers is "not to panic."

We are being as diligent and as careful as we can be. I don't believe the short term scare mongering thats going on about empty shelves and rationing. I think it won't be as bad as that and the main thing is to carry on as normal.

– Richard Walker, Managing Director at Iceland Foods