No Tory can oppose a new National Investment Bank after this

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As the Guardian has reported:

The government has handed Jaguar Land Rover a £500m loan guarantee to help accelerate its progress in the global electric vehicle race.

Theresa May said the loan would help Britain’s biggest carmaker sell the next generation of electric cars around the world. She told a meeting of industry leaders at Downing Street on Monday that the funding pot would include £500m from UK Export Finance alongside another £125m from commercial lenders.

There are several things to say. First, although I have reservations about electric cars, let's be clear that this is a nascent Green New Deal in operation.

Second, let's also be clear that this is the government picking winners and losers.

And third, quite unambiguously this is the government acting as a banker to the private sector.

And, fourth, the sum involved is far from insignificant.

So, fifth, let's never again hear opponents of the Green New Deal and a National Investment Bank saying that it is not the government's job to do any of these things: very clearly it is. A Tory government has just proved that.