Shoe Shortages

Shoe prices may rocket and there could be shortages in the shops by next autumn say top retailers such as Tesco and Marks & Spencer. Last summer the High Street was plunged into a ‘bra wars' crisis when trade limits were slapped on imports of lingerie and jumpers. Now similar uncertainty over footwear could spread similar chaos.

Lobbying by southern European countries against imports of shoes from China and Vietnam has led the European Union to consider an anti – dumping tax to penalise exporters who sell goods cheaper abroad than in their home markets. Kevin Hawkins, director general of the BRC, said “Valuable lessons should have been learned from the textile dispute in the summer. The industry would be better served by promoting free access to all markets and not seeking to build higher barriers. If duties are imposed on products, consumers will pick up the bill.” China and Vietnam account for 43 per cent of Britain's £5.5bn footwear market.