Lord Mandelson will announce a new #35m business start up programme for the North West on a trip to the region today.
The Business Secretary will visit Liverpool for the Cabinet meeting and will also launch the scheme designed to help entrepreneurs in the region to get new companies off the ground and access support.
The five-year fund, through Business Link Northwest, has a target of helping more than 12,000 companies and creating more than 22,000 jobs.
Lord Mandelson said the government was determined not to repeat mistakes made in previous recessions of retrenchment but could not turn around the UK's economic problems overnight.
He said he had a vision for a new industrial 'activism,' focusing on the role that regions can play.
"The government will continue to learn from our own and other countries' response to the international economic crisis and make adjustments as necessary.
"We will not repeat the mistakes made in previous recessions of retrenchment, stop-go policies in public investment have reduced Britain's competitiveness over many decades."
He added: "The next industrial revolution will, once again, be driven by the regions, just as Britain's first industrial revolution was.
"It won't be cotton, but it will be bioscience, or green tech, or precision engineering or creative industries."
Of the Government's handling of the economic crisis, he added: "You may not feel that we have got everything right, in content or scale.
"Over the coming months we will continue to learn from our own and others' experience as we adapt to the unique combination of economic problems we are facing.
"When private sector demand falls this sharply, the only pockets deep enough to make any difference belong to government. This doesn't mean a 'splurge.' The government belt will tighten with everyone else's."
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