LEADING businessmen Lord Willie Haughey and Sir Tom Hunter have warned that ramifications of scrapping the Northern Ireland Protocol could be “felt for decades”.

The protocol, agreed with the European Union in 2019 as part of the UK’s Brexit deal, has caused tensions since it came into force at the start of last year.

Now the UK Government wants to make changes to the post-Brexit border rules in Northern Ireland with UK Foreign Secretary Liz Truss saying a new law would be introduced.

Lord Haughey said: “When you get involved in an international treaty, which is what this is, then you want to go against what you have signed, and you’ve shaken hands with people, then I think your standing as a world power is diminished.

“I think the ramifications of what’s going on here could be felt for years and years, for decades to come.”

Conceding that there must be “give and take” in any negotiations, Sir Tom added: “I’ve dealt with tough negotiators in my time but when you shake their hand the deal is done and that is it.

“I don’t think anybody can really trust the UK now because when you shake Boris Johnson’s hand you don’t know what that means – and that is a bad situation for the UK to be in.”

Sir Tom pointed out that the people of Northern Ireland, where special arrangements were needed after Brexit as it is the only part of the UK with a land border with an EU country – the Republic of Ireland – should not be disadvantaged.

Meanwhile, Lord Haughey alluded to the fact that some senior Conservative backbenchers had stated that the UK would be “morally corrupt” to go against the Northern Ireland Protocol, an agreement it has already signed up to.

Before Brexit, goods could be easily moved across the border as both Northern Ireland the Republic of Ireland followed the same EU trade rules and no checks or paperwork were required.

After Brexit, a new system was necessary because the EU’s strict food rules require border checks for certain goods, such as eggs and milk, arriving from non-EU countries.