He added that the UK would have to sign up to so-called level playing field provisions, which the EU see as preventing a potentially low-regulation UK from undercutting the European economy.

But he believed things could move quickly.

"I would think there will be a significant amount of progress made because we will be ready to go in the springtime. The [European Council] will have to give us a mandate.

"All the details around that can be achieved very quickly. We can get into the negotiations before Patrick’s Day if there is political good will on the part of the United Kingdom, and we’re ready to go.”

Mr Hogan qualified his remarks saying everything depended on the outcome of the British election.

“If there’s a majority government of course it makes a big difference. If Mr Johnson is going to have a majority we’ll have a WAt approved by mid-Jan and if there’s an alternative to Mr Johnson elected, led by Labour and the Lib Dems, we’ll probably have another referendum

"So we wait with baited breath for the 12th of December."