Like most Scottish Conservatives, I’ve backed Theresa May’s Brexit deal as the best way to deliver the referendum result. I still hope it will eventually secure majority support. But given events of last week, we now need to seriously consider a “Plan B” should her deal continue to meet resistance.

I’ve long advocated the “Norway Plus” or “Common Market 2.0” plan as an alternative. This would see us remain in the European Economic Area via membership of EFTA with the UK entering into a comprehensive customs arrangement with the EU. This would deliver frictionless trade and, critically, solve issues around the Irish border because there would be no need for any new regulatory frontier there.

Common Market 2.0 respects both the outcome of the 2016 referendum but also the closeness of the result. It has the benefit of being an off-the-shelf solution which the EU could agree to immediately, especially when time is in short supply. We would still require a Withdrawal Agreement and the Northern Irish “backstop”, but the latter would become academic once we have accessed EFTA. The “Political Declaration” would be redrafted accordingly to reflect a future relationship with the EU similar to Norway’s.

We would exit the Common Fisheries Policy, the Common Agricultural Policy, and the jurisdiction of the Court of Justice. We would remain outside the Schengen "open borders" regime. We would have scope in time to become a party to EFTA's existing free trade agreements and to strike our own international trade deals, just as Iceland has with China.

In short, we would leave the political institutions of the EU and move away from “ever closer Union”. But at the same time, and as the name of this plan suggests, the proposal goes to the heart of what we joined in the first place: namely, a common market.

It’s not perfect by any means. The UK would still have to make financial contributions into the EU, although at a significantly lower level than we do at present. It’s associate membership, where we pay for what we access. EFTA states are often caricatured as docile rule-takers enduring “taxation without representation”. Yet the reality of EFTA membership is a lot more nuanced. EFTA countries are in fact involved in major EU “decision-shaping” mechanisms as well as having participation rights in a number of EU programmes and organisations. We would not be a voting member state, but as a major European economy and home to the continent’s principal financial centre, we would retain a powerful influence on many of the issues facing Europe as a whole.

Common Market 2.0 is a compromise, without doubt. But like the best compromises, it’s a pragmatic and realistic solution which endeavours to bridge the gap between two extremes.

It avoids the bitter rancour of another referendum on the one hand and the chaos of a “no-deal” Brexit on the other. It’s a plan which respects the integrity of the United Kingdom. If the Prime Minister’s deal falls, surely it’s worth contemplating?

Donald Cameron is the Conservative MSP for the Highlands and Islands. He is also the Policy Co-ordinator for his party's 2021 Holyrood manifesto