In advance extracts of the speech published by British media, May rejects “partial membership of the European Union, associate membership of the European Union, or anything that leaves us half-in, half-out”.

She also reiterates her rejection of models established by other neighbours of the EU such as Norway or Switzerland, instead promoting a “global Britain” trading with multiple partners all around the world.

This would threaten the free trade channels established between Ireland and the UK under EU rules, through which 37% of Ireland’s agri-food exports were shipped last year.

This represents €4.13bn and already fell by €570m in 2016 as the sterling exchange rate deteriorated. Last week, Agriculture Minister Michael Creed stressed the “urgency” of developing alternative export markets in light of the Brexit challenge.

Stay tuned to www.farmersjournal.ie this afternoon for more details from Theresa May’s speech.

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