Mandelson harks back to the macro management days

Peter Mandelson's interview in this morning's FT throws up the fact that the business secretary is impressed with the French industrial policy.

Talking to Peggy Hollinger after meeting business leaders in Paris he says that

“We have something to learn from continental practice without falling into the pitfalls of second-guessing business,”

adding that France

was better at “setting strategic goals and objectives”, as it had done in the energy sector by promoting nuclear power, in transport by creating the infrastructure for high-speed trains and in the aerospace industry.

This is bound to open up the debate that Mandelson will try to revert to a policy of greater state intervention in the economy,maybe even along the lines of macro management.