In an Australian TV interview, an Irish actor said that in making a commando movie he had to jump off a cliff, Tarzan style, hanging onto a rope. As he jumped, he screamed something out. The director asked what it was and he said it was an Irish battle cry, so it was left in. When the movie was released in Dublin it brought the houses down, for what he had yelled was, "Pog maho-o-o-o-o-ne!" -- which translates into American English as "kiss my ass".
On the surface, giving Ireland back seems the best thing to do. After all, it's only Northern Ireland that is ruled by England. The problem may be that the majority of Northern Irish would vote to stay a part of the UK. If a referendum were to be held of the whole of Ireland the result would scarcely be in doubt.
Then, when we get that settled, we might set about making Australia a republic instead of a semi "self-governing dominion".