Nick is right that Hammond’s plan looks similar to the EEA/Common Market 2.0 proposal.
An issue Hammond doesn’t address is how the agreement he suggests would be governed (arrangements for U.K. say; dispute resolution). The obvious ready made model - or answer - here is the EEA. Indeed taking that model is, I think, the only way of achieving the Jan 2020 target.
There is no doubt that the EEA governance model could be improved. If we wanted to improve it before signing up to such an arrangement, that would take time (Jan 20 would look unrealistic). Otherwise we’d have to rely on reforming it from within.
Either approach seems to me to be a reasonable approach, if the aim is to achieve a workable and sustainable Brexit that keeps us in the single market and customs union.
