However, supporters of a hard Brexit fear it is too similar to European Union membership without the United Kingdom having any say in making its rules, and involves accepting some degree of free movement of people.
Major banks including HSBC (LON:HSBA), Morgan Stanley (NYSE:MS), Citigroup (NYSE:C) and Barclays (LON:BARC) have all indicated towards plans of moving jobs and operations out of London before the United Kingdom officially leaves the bloc in 2019.
"Free movement will end in March 2019". Although it will officially end at that point, Hammond and Amber Rudd, the home secretary, have said European Union migrants would still be able to come to the United Kingdom during the transitional period as long as they register with the authorities.
An example of this was last week when we saw an absurd claim that was given wide publicity, which said that our planes won't fly after Brexit.
"It won't be postponed or delayed".
He added the United Kingdom hopes talks on a post-Brexit EU trade deal will begin this autumn, although this was a less than certain verdict compared to an earlier upbeat Government assessment from David Davis's department. "That is a debate, a discussion that will go on through these negotiations".
He says the Chancellor "has evidently been trying to persuade his Cabinet colleagues that we should be seeking to stay in the EU single market and customs union during a transition and "implementation" phase lasting to 2022, followed by a free trade deal with our former partners after that".
'But that trading relationship will not be based on membership of the European Union, it will be based on treaty - just like a future trading relationship with Brazil will be based on treaty'.
Praising chancellor Philip Hammond's calls for the United Kingdom to remain in the single market and customs union during a transitional phase, Lord Hague added: "This is seen by longstanding advocates of leaving as a "soft" position or a climbdown".
In contrast, Liam Fox, the worldwide trade secretary, has said there is no cabinet-wide agreement for the suggestion that free movement could continue for up to three years after Brexit.
The war of words came as an ally of Foreign Secretary Boris Johnson also criticised Mr Hammond's plans.
While it might not quite be "any cost", it is clear that large number of Leave voters are willing to pay a heavy price for Brexit. May's spokesman said it would take time to get the numbers down, but the government was committed to doing so.
The eccentric backbencher also said any senior minister thinking about a leadership challenge "would be doing his own chances a great deal of damage" by using differing views over Brexit to move against Prime Minister Theresa May.