After you

Peter Mandelson, the business secretary, has been in India this week and his schedule included an audience with Ratan Tata, the industrialist hoping to get UK state support for Jaguar Land Rover. Mandelson should take a hard line against such requests. Tata overpaid for the luxury carmaker in a debt-funded £2.3bn deal last year, and it should be the first to take the consequences. Just before the deal, JLR had turned its first annual profit after years of losses under the ownership of Ford. But...