An insightful article from Ben Hargreaves at Professional Engineering asks a fairly pointed question: whither 'industrial activism'?
"The financial crisis provoked an unusual level of political rhetoric about the importance of manufacturing and the role of engineers that was refreshing. In the summer, it seemed Lord Mandelson – with his “less financial engineering, more engineers” soundbite – was on a national tour designed to take in every significant car plant in the UK, posing for photo opportunities on production lines.
"But talk of a 'new industrial activism' has not been given much concrete impetus in this week’s pre-budget report, which, with an election six months away, has been widely viewed as dodging decisions of substance in favour of crowd-pleasing measures such as the 50% tax on bankers’ bonuses."
Building a better-balanced economy isn't the just the job of the admittedly powerful Business Secretary - it needs to be the responsibility of the entire government.
(And, while a 10p rate on income from patents is a start - it's a very narrow measure that doesn't begin until 2013.)