It's not our fault - Peter Mandelson

Business secretary Peter Mandelson has denied the government needs to apologise for the financial crisis during an interview available exclusively on Smarta.

During the interview with Dragons' Den investor and Smarta board member Theo Paphitis, Lord Mandelson said the global nature of the recession means the British government should not shoulder the blame.

"If we were in some ordinary recession like we've had before rather than an almighty great international crisis in our banks, then we might have something to apologise for," he said.

"If it were only taking place in this country and not around the world, then probably some blame would attach to ourselves here. But neither of these things are true. This is no ordinary recession, and it's not British - it's international."

But Mandelson said it's up to businesses to stop talking down Britain. "Instead of people just talking down our country all the time and saying 'we should have done more' or 'we can't do this' or we're useless at the other', why don't people take pride in our country?

"Who's giving the lead here internationally? It's Britain. Who's chairing the G20 meeting at the beginning of April? It's Britain. Who's formulating the agenda that's providing leadership for the rest of the world? Actually - it's Britain!"

While we may not quite agree that the government shouldn't shoulder any blame for the recession, we can't help but think Mandelson has a point. We're tired of hearing criticisms - it's time to fight back.

"Let's look at what businesses are doing to withstand the pressures of this recession, so they not only survive what we're going through now, but enable themselves the thrive in the future," says Mandelson - and we agree. After all, thriving business is what Smarta is all about.

Watch the full interview with Peter Mandelson here .

Many thanks to our friends at Yoosk for the video.

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