Over the years I have watched first many City institutions pass into foreign hands; then companies like Rolls-Royce Motors, P & O, and O2, and soccer teams such as Manchester United, and much else besides with regret but not outrage.

Powerful financial forces had been at work and, as in most cases UK shareholders opted to take the money and run when overseas bidders came a-calling, it could be viewed as capitalism in action.

Gordon Brown proclaimed that the UK's opendoor policy to foreign investment strengthened our economy because it attracted overseas cash.

Now that the home economy is on the skids that sort of thinking looks short-sighted in the extreme. But it is too late to restore the family silver to its former glory.

It has to admitted also that UK businesses have done their share of overseas purchases. But something as strategic as our nuclear future - even if as rumoured British Gas company Centrica buys a minority stake from EDF - which really should not be open to foreign control.

It is true that the French do nuclear-generated electricity rather well - although there have been some radioactivity leaks recently - and this country has a long history of making a hash of the industry.

But when British Energy - where the Government has a remaining 35 per cent stake - was put up for sale a way should have been found of tapping French knowhow without ceding majority control.

The French for one would not stand for it if the roles were reversed. The Government is in urgent need of a backbone transplant.