GKN will be stripped and sold for parts by ghouls who have no interest in making things | Will Hutton

What can we expect from a takeover led by a protege of Lord Hanson, the man who laid waste to industrial Britain?

The past is never dead. When the wheeling, dealing, asset-stripping Hanson Trust finally collapsed in 2007, having played a major part in the deindustrialisation of Britain – but having greatly enriched its Thatcherite founder Lord Hanson – I thought a stake had finally being driven through the heart of a particular ghoul.

Never again would our Westminster, Whitehall and City establishments indulge a glorified super-accountant who knew the price of everything but the value of nothing. And, in the name of “culture change” and rigorous “management”, had laid waste to industrial Britain. I was wrong.

Related: MPs call for government to block Melrose’s £8bn hostile takeover of GKN

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