"There are directives and obligations linked to the Single Market, such as state aid rules and requirements to liberalise and privatise public assets, which we would not want to see as part of a post-Brexit relationship," says Jeremy Corbyn.
And there's no staying in the Single Market without them.
Whereas Owen Smith is so strongly in favour of those state aid rules, and of those requirements to liberalise and privatise public assets, that he wants a second referendum in order to prevent there ever even being post-Brexit relationship.
That is the straight choice facing voters in the Labour Leadership Election.
No one in the Government has any idea what they think of any of this. But that is another matter.