Some breaking news from the Guardian:
The Tory Brexiter John Baron told the BBC this morning that ministers like Dominic Raab, the foreign secretary, and Michael Gove, the Cabinet Office minister, have told him that, if the trade talks with the EU do not produce a deal by the end of next year, the UK would leave the transition and trade with the EU on no-deal (ie, WTO) terms.
He also said a similar assurance in public from Boris Johnson would help to persuade hardline Brexiters (ie, the core of the European Research Group) to back the deal. [...]
Under the government’s current plan the UK would leave the EU legally on 31 October but then remain in a transition until December 2020, during which most aspects of EU law would continue to apply.
Clearly the subsequent talks can fail, but does this mean the UK would essentially be in the same position as doing a no-deal Brexit?