The whole point of a tariff is to protect what is produced in a country. It is to impose a barrier against goods coming into a country by making them more expensive to consumers. That’s the whole point of a tariff. The imposition of tariffs—there are many different tariffs, that’s true—but the most stringent tariffs are on dairy products, at 40 per cent. There is no way that those tariffs will be absorbed by those who sell into the UK market. The cost will be passed on to UK consumers, and vice versa, as farmers from Wales and the rest of Britain seek to export into the EU. At the end of the day, the consumer always pays the tariff, and that would mean, in effect, a huge increase in taxation as far as consumers are concerned. It doesn’t have to be that way.

We have always said that there are a number of different options available that would mean that we can leave the EU—respecting the referendum result, of course—while at the same time avoiding our manufacturers and farmers losing access to a market of 500 million and gaining instead free access to a market of only 60 million. I don’t believe that’s in the interests of anybody, and that is something that I know the UK Government, in fairness, is keen to avoid, and something that we will support them in looking to avoid as well.

There are many challenges ahead. That much is true. This is a very complicated divorce. The people have spoken, and there is no going back to the referendum result last year, but it’s absolutely crucial that, as we look forward, we minimise disruption and we ensure that the growth of the Welsh economy over the last few years is not jeopardised over the decade to come.