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Conservative MPs who are preparing to vote for Britain to remain in the EEA amendment believe alarm at the state of negotiations could tip the balance in favour of a soft Brexit.
Campaign group British Influence has assembled a legal team to take the government back to court over its plans to leave the single market.
Whether Brexit should leave meaning the single market is a debate brewing within the Labour Party.
Not all UK-based firms that currently have passports need them, and some may be able to continue their operations even if passporting rights are lost.
The Brexit secretary said it would be a "more complicated, more difficult and less beneficial" option and the government wanted a separate transition deal.
Here is why people in both the Remain and Leave camps are urging Theresa May to sign Britain up to EFTA and the EEA.
"When the chips are down, we still think that the path of least resistance for the government will be to agree a long transitional relationship in which the status quo largely remains in place."
As many as 70% of investors said that they "expect a transition of near-EU membership for at least 1-2 years."
This tiny sector of Portuguese industry shows how disastrous leaving the single market after Brexit could be
"A potential withdrawal from the EU would negatively affect innovation," economist Carlos Daniel Santos concludes.
"Given that time is short and that the task is fiendishly complex, an off-the-shelf solution has appeal," HSBC's UK economics team writes.