Britain doesn’t need to bluff about Brexit

The Government’s insistence that we should not give away our hand in negotiations with the EU has backfired. It is putting us in a weak position because the primary reason for not giving away your hand is when you are bluffing. We are not bluffing. We are in a strong position and should take maximum advantage of it. 

When negotiating with someone who may or may not be reasonable, there is unavoidable uncertainty. We should define the worst that can happen and prepare for it. We can’t control how our opponents behave, but we should define all the things we can control and make sure we control them. Whether or not we make a success of independence will in reality depend not on the decisions of the EU but on the way we handle the decisions that are within our powers. Managing the exchange rate and investing in productivity-enhancing infrastructure are only the most obvious of many such measures.