The Liberal Democrat minister described elements of the Government’s economic policy as “frankly, rather piecemeal” and said it was not clear how Britons would “earn our living in the future”.
The leaked letter, sent by Mr Cable to David Cameron and Nick Clegg last month, is evidence of a growing rift between the Conservatives and Liberal Democrats over economic policy in the run-up to the Budget. Senior Liberal Democrats have broken with recent convention by being increasingly vocal in their demands for new taxes on expensive properties to fund greater tax breaks for low-paid workers.
There are also growing disagreements over policies to boost economic growth with the Conservatives blaming Mr Cable for blocking initiatives to cut unnecessary red tape for private firms.
In his five-page letter sent to the Prime Minister and his deputy on Feb 8, Mr Cable criticises the Government’s failure to develop a coherent industrial policy.
After praising Coalition measures to restore the public finances, the letter says: “I sense, however, there is still something important missing: a compelling vision of where the country is heading beyond sorting out the fiscal mess; and a clear and confident message about how we will earn our living in the future.” Read on and comment » | Robert Winnett, Political Editor | Tuesday, March 06, 2012
