Coalition Lacks Vision, Says Vince Cable

THE DAILY TELEGRAPH: Vince Cable, the Business Secretary, has admitted in a leaked letter that the Government lacks “a compelling vision of where the country is heading” after the financial crisis.

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

Liberal Democrats Party Conference 2011: Vince Cable's Speech to Conference in Full
THE DAILY TELEGRAPH: Vince Cable tells Liberal Democrat Party Conference in Birmingham: "We now face a crisis that is the economic equivalent of war." This is the full text of his speech.


These are dangerous times for our economy.
There is much uncertainty.

But I am absolutely certain that, at such a moment, the country is stronger for having two parties in coalition working in the national interest.

When I joined up I had very mixed feelings about this coalition, like many of you.
I looked for good precedents.

I thought of Attlee and Bevin working with their Tory opponents – Churchill and Beaverbrook – setting aside their political differences in a common cause.

That coalition unleashed the great Liberal reformers; Beveridge and Keynes.

Now, you could say: that was war; that’s different.

Yes, it is different.

But we now face a crisis that is the economic equivalent of war. » | Monday, September 19, 2011

This man speaks sense! – Mark

Vince Cable Backtracks on Criticism of David Cameron's Immigration Claims
THE DAILY TELEGRAPH: Vince Cable has indicated his support for the Government’s policy on tackling immigration, despite earlier accusing David Cameron of “inflaming extremism”.

The Business Secretary earlier said the Prime Minister had been “very unwise” in giving a speech warning that mass immigration had led to "discomfort and disjointedness" in some communities.

However, he later appeared to backtrack on his criticism, telling reporters that the Coalition was “completely united” on the issue.

Questioned about his earlier comments, which he made to the BBC, Mr Cable, a Liberal Democrat, said: "I don't want to develop that, and I think I have said what I wanted to say.

"We have a common consensus, a compromise in the coalition on our policy on the immigration cap and I don't think I need to add to that.

"We are completely united behind the policy and the policy is about a cap." (+ video) » | Thursday, April 14, 2011

Related »

David Cameron Rejects Cable Immigration Criticism
BBC: David Cameron has hit back at criticism by cabinet colleague Vince Cable over his promise to cut immigration to "tens of thousands" of people a year.

The Lib Dem business secretary said the prime minister had been "very unwise" and that such a target was Conservative - not coalition government - policy.

He added that Mr Cameron's comments, made in a speech to Tory activists, "risked inflaming extremism".

But the prime minister denied this and said his words had been "measured".

Labour leader Ed Miliband said ministers had to "get a grip" on immigration and stop fighting amongst themselves.

The Conservatives' 2010 election manifesto calls for "steps to take net migration back to the levels of the 1990s - tens of thousands a year, not hundreds of thousands".

However, the coalition agreement between the Conservatives and Lib Dems pledges only an "annual limit" on people coming to the UK from outside the European Union for economic reasons, making no reference to specific numbers. » | Thursday, April 14, 2011

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Vince Cable: David Cameron's Immigration Claims 'Risk Inflaming Extremism'
THE DAILY TELEGRAPH: Vince Cable, the Business Secretary, has accused David Cameron of “inflaming extremism” with his speech on immigration.

The Prime Minister will today claim that uncontrolled immigration has undermined some British communities.

Pledging to cut the numbers entering Britain to tens of thousands, rather than hundreds of thousands, Mr Cameron will say that "for too long, immigration has been too high".

Mr Cameron’s speech, his first major address on the issue since the general election, will please many Conservative MPs and voters.

But Mr Cable, a Liberal Democrat, described the speech as “very unwise” and suggested it could fuel extremism over immigration.

“The reference to the tens of thousands of immigrants rather than hundreds of thousands is not part of the coalition agreement, it is Tory party policy only,” Mr Cable told the BBC.

“I do understand there is an election coming but talk of mass immigration risks inflaming the extremism to which he and I are both strongly opposed.”

The Conservatives and Lib Dems agreed in their Coalition deal to take differing views on immigration, but Mr Cable’s forthright criticism of Mr Cameron may raise questions about his position in the Cabinet. Continue reading and comment » | James Kirkup, Political Correspondent | Thursday, April 14, 2011



My comment:

Doesn't Vince Cable understand that he is in office to serve the people? Doesn't he understand that the people's concerns should be of paramount importance in a so-called democracy? The good British people are fed up of all this unrestrained immigration into our once rather homogenous land. Do the people's wishes mean nothing to this man? If he is concerned about extremism, the one thing he and his colleagues could do to nip extremism in the bud is bring immigration under control. It is precisely in countries where immigration has been allowed to get out of hand that we are seeing the growth of the so-called extremist parties. Now surely you can get that, Dr. Cable! – © Mark

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Bravo, Mr Cable! Bravo! Vince Cable Attacks Bankers as 'Spivs and Gamblers'
THE TELEGRAPH: Vince Cable has attacked the “spivs and gamblers” who he claimed are more of a danger to the economy than militant union leaders.



The Business Secretary told the Liberal Democrat conference in Liverpool that it was right that the public was angry about the bankers’ bonuses.

He refused to tone down his comments, which have angered business leaders, about the “murky world of capitalism.”

He said: “I make no apology for attacking spivs and gamblers who did more harm to the British economy than Bob Crow (the RMT union leader) could achieve in his wildest Trotskyite fantasies, while paying themselves outrageous bonuses underwritten by the taxpayer. There is much public anger about banks and it is well deserved.”

In another move that is likely to anger the Conservatives Mr Cable revelled in the fact that the Lib Dems had forced David Cameron to drop his pre-election commitment to a new inheritance tax limit.

To cheers from the Lib Dem delegates, he said: “You'll remember our Conservative colleagues campaigned in the General Election to lift the inheritance tax burden on double millionaires. But they have dropped that commitment.

“They have gone halfway to accepting our case for equalising income tax and capital gains tax rates. They have accepted in the Coalition Agreement that the priority for cutting income tax is for low earners not top earners.”

He also repeated his wish for a new tax on properties worth more than £2 million.

Mr Cable said: “I personally regret that mansion tax did not make it into the Coalition Agreement but in a coalition we have to compromise. But we can and should maintain our distinctive and progressive tax policies for the future.”

Mr Cable was unrepentant for talking about capitalism's failings.

He said: “The Government's agenda is not one of laissez-faire. Markets are often irrational or rigged. So I am shining a harsh light into the murky world of corporate behaviour. >>> Andrew Porter, Political Editor | Wednesday, September 22, 2010

Warning for Britain as Financial Chaos Spreads to Spain
THE TELEGRAPH: Spain's economy was thrown into chaos on Thursday when its credit rating was cut, sharpening fears that Britain may suffer a similar fate.

The turmoil came just a day after Greece’s rating was cut, increasing concerns of a Europe-wide financial crisis.

The euro fell sharply and the interest rates European governments pay to borrow money jumped after Standard and Poor’s, a credit ratings agency, downgraded Spain.

Last night the government in Madrid appealed for calm, promising an “austerity programme” to cut spending.

But economists fear that events in Spain show that financial “contagion” is spreading from Greece, as investors are scared off investing in any European country with significant government deficits. >>> James Kirkup and Christopher Hope | Thursday, April 29, 2010

Britain Risks Greek-style Crisis, Warns Vince Cable
THE TELEGRAPH: Britain risks sliding into a Greek-style fiscal crisis unless the next government takes drastic action to cut borrowing, warned Vince Cable, the Liberal Democrat finance spokesman.

Greece is currently in talks with the IMF and the European Union on getting a €45bn bail-out package to prevent a sovereign default, and a slashing of its debt to junk status has sent global financial markets into a tailspin.

"The Greek position is much more serious but is a salutary warning that unless the next government gets seriously to grips with the deficit problems, as we're determined to do, we could have a serious problem," Mr Cable told Reuters Insider television. >>> | Wednesday, April 28, 2010

Liberal Democrats Pledge £10bn a Year of Spending Cuts
THE TELEGRAPH: The Liberal Democrats have published their election manifesto with a promise to cut more than £10 billion a year from public spending.



Tax credits, winter fuel payments to pensioners, child trust funds would all be reduced under Liberal Democrat manifesto plans to cut the Government deficit.

ID cards, RAF fighter jets and surveillance systems used by MI5 would also be cut.

Nick Clegg said the party was being honest with voters about the need for savings to reduce the deficit, which reached £167 billion this year.

"We have to come clean with people. There is this big black hole in the public finances," Mr Clegg said.

Other parties were "kidding people" and "failing to show candour" about the need to make cuts, Mr Clegg said.

Vince Cable, the Lib Dem Treasury spokesman said the cuts would have to be even bigger than the £10 billion a year in the manifesto.

He said: "There is more to be done. I fully appreciate this isn't enough. We have to go beyond that."

The Lib Dems would also raise the starting threshold for income tax to £10,000, a tax cut for 3.6 million low earners.

That would cost £17 billion, money the party said it would find by cracking down on tax avoidance and by imposing higher taxes on airline flights.

The party also pledges to boost the pay of the lowest ranking members of the Armed Forces to bring them into line with the starting salary of their emergency services counterparts.

Under the manifesto commitments, prison inmates would be forced to work and contribute to a compensation fund for victims.

In his foreword to the document, party leader Nick Clegg said the Lib Dems will ''sort out our rotten political system once and for all'' if successful at the May 6 General Election. >>> James Kirkup, and Jon Swaine | Wednesday, April 14, 2010

Dr Cable on Saudi Arabia
"By any standards, and in the assessment of our own Foreign Office, the human rights record of this Government is absolutely appalling …They point to the systematic discrimination against women, people of other religions, the exercise of systematic corporal punishment, through amputation, the public beheadings." – Dr Vince Cable [Source: The Times]