A shift for New Labour?

The front page of the Independent this morning heralds the end of New Labour's dalliane with twelve years of market forces as it interviews the business secretary.

The paper says that Lord Mandelson

unveils an interventionist strategy under which the Government will subsidise the growth industries of the future.

According to the paper,Lord Mandelson said that

"If markets fail or don't work efficiently, government has a role to play – as we saw in the financial markets.The Government's job is not to substitute for markets or displace the private sector. We are not into bailing out the past, but removing the barriers to investing in the future."

But is this the right step to take? I am sure that many on the left of the party will herald this interview as laying the foundations of rolling back Blairism.