The Brexit agreement reached on Christmas Eve means no tariffs and no quotas on the trade of goods between the EU and UK. It means the €1.1bn plus of tariffs on Irish agri-food exports to Britain that would wipe out this business will be avoided.

However, it does not avoid the very significant administrative cost that will come with reverting to the trading terms that existed until 1 January 1993 when the single market between all EU member states came into effect.