Brown's decision to enlist the famously pugnacious Mandelson, with whom he had sparred while both served under former Prime Minister Tony Blair, had astounded observers but arguably helped secure a sudden bounce in Brown's poll ratings.
Top of Mandelson's agenda Wednesday was convincing lawmakers and a skeptical public that a £20 billion ($29.3 billion) loans guarantee package for small and medium-sized businesses would sufficiently nourish credit-starved enterprises. But he also attempted to head off a revolt by "back bench" parliamentarians affiliated with the ruling Labour Party against his plans to sell a minority stake in Royal Mail Group Ltd., the U.K.'s postal service.
The Netherlands TNT NV is said to be frontrunner for a stake of up to 30% in the money-losing business, and Mandelson Wednesday sought to allay concern that the sale would lead to a full privatization. For a politician whose powers of persuasion and spin earned him the moniker "The Prince of Darkness" during the Blair regime, his tone was exceptionally conciliatory. - Laura Board
U.K. Business Secretary Peter Mandelson faced Wednesday one of his most challenging days since being recalled to the Cabinet in October from his post as trade commissioner at the European Commission to proffer heavyweight assistance to Prime Minister Gordon Brown as the economy plunged into recession. 
