While it is legitimate – indeed, essential – for businessmen to demand experienced men at the head of affairs, this blog is careful to maintain strict neutrality in matters of party politics.

So, in discussing the need for proven leadership through this current crisis, this blog will maintain that neutrality by praising one political party and offering friendly advice to another.

Lord Mandelson is, justifiably, a controversial figure in Britain, but he is one of the few leaders of the ruling Labour party with substantial experience of the private sector. His return to the Cabinet is, on balance, good for business.

The opposition Conservatives should do something similar. Their chief economic spokesman, George Osborne, seems too immature to be the steady hand in a storm. He should be replaced by a heavyweight in every sense of the word – Kenneth Clarke, QC, who, as a very successful Chancellor of the Exchequer in the 90s, started the period of prolonged growth that has just come to abrupt end.

Now, more than ever, Britain needs the wisest heads from all parties working on the economic problem.

That category surely must also include the Liberal Vince Cable, who warned consistently of the dangers of too much debt, but perhaps not the Scottish Nationalist Alex Salmond, who recently suggested an independent Scotland could model itself on... er... Iceland!