For the uninitiated, Operation ROBOT was a 1952 proposal by the Treasury and Bank of England to restore convertibility for non-resident Sterling currency by allowing the exchange rate for the pound to float. The objective was to relieve pressure on the British balance of payments, but it was rejected in February 1952 and again in June.
This was perhaps forseeable given that the advocates of the scheme anticipated that it would increase interest rates and unemployment. On the other hand, it would have imposed economic discipline, and made British exports more competitive. On the gripping hand, it would have undermined the Bretton-Woods system and annoyed the Americans. Later in 1952, the British balance of payments improved, and the plan didn't get much more consideration.
What could make the British government implement ROBOT, and how might it have played out at home and abroad?