Lord Mandelson is drawing up plans to choose which businesses and industries are important enough to be saved in the event of their going bankrupt as the recession bites, the Guardian can reveal.
In his first newspaper interview since returning to the cabinet, the business secretary said he planned a more interventionist policy for industry.
Company data such as the number of employees, the importance of the firm’s research and development and its performance were likely to be factors in deciding which businesses should be given government aid.
It’s the sort of thing that Herbert Morrison, his grandfather, loved doing. Didn’t that work well too?