Now that the dust has settled on the European Parliament elections, notwithstanding the recount in Ireland south, the focus will return to Brussels and Westminster and how to solve the Brexit conundrum.

Of course, before politicians in the UK can seriously begin to address the issue of the UK's departure on 31 October, the Conservatives have to find a new leader for their party and indeed the country.

Problem continues even if people change

The problem remains that irrespective of elections or change in personnel, the problem of Brexit remains in that the UK cannot continue to have the benefits of the EU single market and customs union while flying solo and doing its own thing.

Many in the UK political system have not yet come to accept this, hence the risk of a no-deal departure in October is a very real possibility. This is the nightmare for farmers on the island of Ireland that has hung over the industry since the referendum almost three years ago.

Of course, there has already been a Brexit cost with the weakening in the value of sterling hitting prices for those from the eurozone that trade with the UK. Ireland has had this cost recognised by the Commission’s recent announcement of a compensation fund, matched by the Irish Government to support beef producers who have had a particularly difficult winter and spring.

Political commitment

While Irish farmers have dreaded the consequences of Brexit, both the Government and the European Commission have constantly stated that they have farmers' backs without ever providing specific detail. To do so ahead of a market collapse would in itself be seen as interference in the market and while this may have explained the reluctance, it left farmers in a position that they could only hope that the EU and the Government were as good as their word.

The actual creation of this fund goes a step further and demonstrates that when the evidence-based case is made, they are there as promised. This creates a precedent and while farmers will be hoping that a resolution to the Brexit issue is found between now and the end of October, there will be a safety net if required.

Naturally this is the least preferred outcome for farmers. The reality is that any market support mechanism cannot run for ever. The better outcome is for a period of sensible reflection in the UK parliament about their place in the world that leads to a close enough relationship with the EU that means the ill effects of Brexit can be avoided. There is still time but not a lot.