Ministers Agree to Consider Lib Dem Plans for New Referendum

THE OBSERVER: Vince Cable says move follows cross-party talks on Brexit deadlock options

Cabinet ministers involved in cross-party talks on how to break the Brexit deadlock have given the first indication that they are prepared to examine plans for a potential second referendum on the UK’s departure from the EU, according to the Liberal Democrat leader, Sir Vince Cable.

The offer to examine a possible timetable for a second vote drawn up by the Lib Dems was made during discussions between senior Liberal Democratsand two cabinet ministers involved in the talks, Michael Gove and David Lidington, in the Cabinet Office on Thursday morning.

While Theresa May’s government remains strongly opposed to the idea of returning the issue of Brexit to the electorate, the revelation by Cable shows that ministers are determined to look at a wide range of ideas being put forward by opposition parties. » | Toby Helm, Political Editor | Saturday, January 19, 2019

‪Worlds Apart: A Midsummer Nightmare?‬

For many of us around the world, the summer of 2016 has become a period of seeing British politics in a whole new light. Previously perceived as boring and antiquated, it now delivers breaking news about breaking ranks at breakneck pace. From Brexit to the cascading of the British political class - how does it look from the inside? To discuss this, Oksana is joined by Dr Vince Cable, former business secretary to Prime Minister David Cameron.

Clegg Under Pressure To Sack 'Disloyal’ Cable

Business Secretary Vince Cable (right) with Leader of Liberal
Democrats Nick Clegg

THE DAILY TELEGRAPH: Senior Liberal Democrats say Vince Cable should be stripped of his economic affairs title over plot to undermine Nick Clegg

Vince Cable should be stripped of his role as the Liberal Democrats’ voice on economic affairs over his links to a plot to undermine Nick Clegg, colleagues have said.

Senior Lib Dems are pushing Mr Clegg to sideline Mr Cable in the party’s general election campaign next year, giving control of economic policy to loyal younger ministers.

That could mean Mr Cable is denied a role in any pre-election television debates or a major position in any new coalition government the Lib Dems might join next year.

Mr Cable, the Business Secretary, is facing questions about his loyalty this week after it emerged that Lord Oakeshott, a friend and political ally, had secretly commissioned opinion polls that suggested the Lib Dems would win more votes if they ditched Mr Clegg.

Lord Oakeshott has said he told Mr Cable about some of his polling several weeks ago. Some Lib Dems say Mr Cable failed to stop “treacherous” moves to remove Mr Clegg and take his job. » | James Kirkup, and Georgia Graham | Thursday, May 29, 2014

Vince Cable Accused of Leadership Bid after 'Shambolic Coup'

THE DAILY TELEGRAPH: Vince Cable, the business secretary, accused of having leadership ambitions after admitting he knew that his ally Lord Oakeshott was conducting secret general election polls

Vince Cable has been accused of trying to "take the reins" of the Liberal Democrat party after he was implicated in a "shambolic coup" to oust Nick Clegg.

The business secretary admitted he knew that his friend and party peer Lord Oakeshott had privately commissioned polls which were later used to try and undermine Mr Clegg’s position.

But in a statement addressing allegations of a plot Mr Cable failed to offer Mr Clegg his backing or endorsement.

One of the Lib Dem's leading figures accused Cable of trying to "take the reins" of the party and said that Mr Cable has "leadership ambitions".

However, in what critics described as a sign of weakness following his party’s wipeout in the local and European elections, Mr Clegg failed to sack or even condemn Mr Cable.

His decision led to further turmoil in the Liberal Democrats after a week in which MPs have called on Mr Clegg to stand aside and let Mr Cable take over. » | Steven Swinford, Senior Political Correspondent | Wednesday, May 28, 2014

Vince Cable Accused of Plot to Oust Nick Clegg

Lib Dems say Nick Clegg is 'toxic' on the doorstep due to
decisions on policies such as tuition fees

THE DAILY TELEGRAPH: Supporters of the Deputy Prime Minister claim the Business Secretary's team commissioned polls designed to encourage Lib Dems to ditch Nick Clegg as leader

Nick Clegg’s allies have accused supporters of Vince Cable of plotting to undermine the Deputy Prime Minister’s position as Liberal Democrat leader.

Supporters of Mr Clegg have said that the Business Secretary’s team is responsible for commissioning opinion polls that suggest the Lib Dems will do better at the general election if they get rid of Mr Clegg.

Senior ministers close to Mr Clegg are also demanding that ICM Research, the polling firm that conducted the surveys, reveals who paid for the work.

The Lib Dem row over the polling comes as Mr Clegg faces calls for his resignation over the party’s dismal performance in the European elections, where the Lib Dems were beaten by the Greens and lost all but one of their MEPs.

Some Lib Dem MPs and candidates believe the party needs to remove Mr Clegg to improve its chances in next year’s general election. » James Kirkup, Political Editor | Tuesday, May 27, 2014

Vince Cable Compares David Cameron to Enoch Powell

THE SUNDAY TELEGRAPH: No 10 hits back after minister accuses Tories of racist panic on immigration

David Cameron’s rhetoric on immigration was compared to Enoch Powell’s “rivers of blood” speech by one of his own Cabinet ministers on Sunday.

Vince Cable, the Business Secretary, said the Prime Minister had made British voters “schizophrenic” about the issue.

Mr Cable accused Mr Cameron and members of the Conservative Party of “doing harm” with their “populist” immigration policies.

The Liberal Democrat Cabinet minister suggested that Conservative rhetoric over immigration was similar to anti-Semitic “panics over Jewish immigrants” in the early 20th century.

His comments, just over a week before Britain opens its borders to migrants from Romania and Bulgaria, will inflame tensions in the Coalition.

Conservative MPs on Sunday night described Mr Cable’s comments as “unacceptable” and “offensive”.

Government sources also questioned how a senior minister can remain a member of the Cabinet when he “compares people in it to Enoch Powell”. » | Peter Dominiczak, Assistant Political Editor | Sunday, Decemebr 22, 2013

Vince Cable Attacks 'Ugly' Conservative Politics

BBC: Lib Dem Vince Cable has launched a scathing attack on his Conservative coalition partners, accusing them of "ugly" and "blinkered" politics.

The business secretary told activists the Tories had "reverted to type as the nasty party" and called their election adviser Lynton Crosby a "rottweiler".

It was necessary to work with Tories in the national interest, but the Lib Dems must not be "dragged down", he said.

Earlier, the Lib Dem conference backed the coalition's economic policy.

In a round of early media interviews, Lib Dem leader Nick Clegg had been forced to deny a rift with Mr Cable over economic policy as he urged party members to stick with the two coalition parties' agreed strategy to cut the deficit through spending cuts and tax rises.

And a few hours later, in his keynote speech to the annual conference in Glasgow, Mr Cable began by making clear he supported his party's decision in 2010 to enter coalition with the Tories and to work "constructively and pragmatically" with them. (+ video) » | Monday, September 16, 2013

Vince Cable Tells Shareholders: Throw Out Bank Cheats

THE GUARDIAN: Bosses preside over 'moral quagmire', says business secretary, as Barclays chief Bob Diamond is summoned to face MPs

Vince Cable has urged shareholders in UK banks to rise up and purge their companies of corrupt executives, who he says have allowed "systemic abuse" to take root in the banking system.

The business secretary, writing in the Observer, says it is now clear that no one at Barclays Capital, the investment bank that triggered the market-rigging scandal, is prepared to take responsibility for endemic corruption, so the ultimate owners of banks must take matters into their own hands.

Describing the problems in UK banking as "a moral quagmire of almost biblical proportions", Cable says the government is taking urgent action, including creating a clearer separation between "casino-style investment banking" and retail banking on the high street. Ministers will this week begin a review into the libor system under which banks lend to each other and Cable hints that US-style criminal sanctions, such as the threat of prison terms, could be considered against those who abuse it.

But he says shareholder power will be crucial. "Regulators are a backstop: they don't own banks," he writes. "The governance at the top of our leading banks has been shown to be lamentably weak. No one at the top of Barclays will take responsibility for systemic abuse.

"Shareholders, the owners, have a major responsibility here. I am bringing in legislation to strengthen their control over pay and bonuses, through binding votes, but shareholders have to get a stronger grip on weak boards and out-of-control executives." » | Toby Helm, Jamie Doward and Jill Treanor | Saturday, June 30, 2012

“I Can See Another Financial Bomb Going Off”

NEW STATESMAN: Once a self-styled free radical, Vince Cable is now grappling with the compromises of power. Here he talks about the ferocity of the press, his pact with George Osborne and why he doesn’t feel sorry for Nick Clegg

Consensus is growing that interest rates have been kept too low for too long and that inflation, which stands at 4.5 per cent, is accelerating dangerously, just as inequality deepens, growth flatlines and incomes decline. Worse still, as we enter the age of austerity, is that near-zero interest rates are artificially supporting an already unstable housing market. Spencer Dale, chief economist at the Bank of England and a member of the Monetary Policy Committee (MPC), has spoken of the immediate need to raise the Bank's base rate and then to keep nudging it upwards. "I don't take lightly the impact this could have on some families," he said in an interview with the Financial Times on 21 May. "But I think the cost to our economy as a whole - were inflation to persist for longer and our credibility [to] start to be eroded - would be even worse."

The coalition government's "emergency" def¬icit reduction programme is based on one fundamental principle: when fiscal policy is so tight, monetary policy needs to remain as loose as possible. It's often said that, because of the rapidity and harshness of the cuts in public spending as well as the absence of growth in the UK economy, the government needs greater flexibility. It needs to be less rigid and more pragmatic. It needs a plan B, dare I use the cliché.

In one sense, it already has a plan B (abnormally low interest rates and the option of more quantitative easing). What it might soon need, especially if the MPC votes to raise interest rates, is a plan C (which would mean slower cuts and the kind of humiliating policy reversal that the Chancellor, George Osborne, would never sanction).

I put this to the Business Secretary, Vince Cable, when we meet on a bright, breezy afternoon at his office, with its high windows and fine views of Westminster Abbey. Reclining in a large, soft chair and sipping from a mug of tea, Cable, who has shrewd eyes and a rumpled charm, is quick to point out that the greater danger is not inflation, but deflation.

He cites the long deflationary slump that followed the financial crisis in Japan at the beginning of the 1990s as a warning of what might lie ahead for Britain. » | Jason Cowley | Wednesday, May 25, 2011

"I think the thing that worries me more than anything else [is that] we really haven't engaged with the real depths and seriousness of the financial crash. I was very impressed with that Warren Buffett metaphor that asset-backed mortgage lending was the atomic bomb, and that there are hydrogen bombs out there. I just don't think that collectively governments have got to grips with this at all." So another huge bomb could go off, sooner rather than later? "It's not imminent. But you can see this happening." – Dr. Vince Cable

NEW STATESMAN: The Vince Cable Interview »

Vince Cable Launches Fresh Attack on 'Ruthless, Calculating' Conservatives
THE DAILY TELEGRAPH: Vince Cable, the Liberal Democrat Business Secretary, has reignited the war of words between the coalition partners by calling the Conservatives "ruthless, calculating and thoroughly tribal."

Mr Cable said the coalition would continue in a more "businesslike" format in the wake of the Lib Deb drubbing in local council polls and the large-scale defeat of the "Yes" campaign in the referendum on the Alternative Vote (AV) system back[ed] by almost all his party.

However, his choice of words was unlikely to do anything to smooth relations around the Cabinet table. He also described the Conservatives as "not our natural bedfellows."

As the Lib Dem rhetoric intensified, Norman Baker, the transport minister, said Nick Clegg, the Deputy Prime Minister, had been "let down" by David Cameron.

There was no sense that any Lib Dem minister would break ranks, either by resigning or suggesting Mr Clegg should quit as party leader, despite the scale of the party's defeat.

Leading Lib Dems were more concerned to blame Conservative tactics in targeting Mr Clegg during the AV referendum campaign.

Mr Cable made clear that Liberal Democrats would not accept policies which go beyond last year's coalition agreement with Tories - such as controversial proposals for NHS reform.

Mr Cable told Radio 4's Today programme: "Some of us never had many illusions about the Conservatives, but they have emerged as ruthless, calculating and thoroughly tribal. » | Patrick Hennessy, Political Editor | Saturday, May 07, 2011


BBC: Vote 2011: Tories ruthless and calculating, says Cable – Vince Cable has attacked the Lib Dems' Tory coalition partners as "ruthless, calculating and very tribal" but insisted their alliance would continue. » | Saturday, May 07, 2011

Egypt: Vince Cable Calls for International Action to Locate Mubarak Billions
THE SUNDAY TELEGRAPH: Vince Cable, the British business secretary, has called for international action to locate billions of dollars thought to have been secreted out of Egypt by Hosni Mubarak, the country's ousted dictator.

The Foreign Office said Britain could only act against Mr Mubarak's assets in response to a formal request from Egypt's government, the European Union, or the United Nations.

The Egyptian authorities have so far made no such approach.

"There has to be a request made for any of this action to take place," said Alistair Burt, foreign office minister. "There are things that can be done, but so far there has not been a request made and therefore it is not possible to speculate."

On Sunday night it was announced that a total of 43 people were now subject to orders freezing their assets and banning them from leaving the country. They are understood to include members of the Mubarak family.

"There clearly needs to be a concerted international action on this," Mr Cable said, though he said he had no confirmation there were still Mubarak funds in the UK. "I think it would be great for the reputation for the City of London if those accounts were frozen now."

The Serious Fraud Office is already investigating financial entities linked to Mr Mubarak's sons, Gamal and Alaa. Gamal Mubarak began his business empire from a home in Wilton Place, Knightsbridge, from where he launched a private equity fund.

The sons, along with their mother, Suzanne Mubarak, who is half-Welsh, are widely thought in Egypt to have British passports. >>> Praveen Swami, and Richard Spencer in Cairo | Sunday, February 13, 2011

LE FIGARO: La famille Moubarak garde, pour l'instant, ses milliards: Estimée entre 40 et 70 milliards de dollars, elle fait depuis quelques jours l'objet de toutes les spéculations. >>> Par Tangi Sala | Lundi 14 Février 2011

Related >>>

Good on Ya, Mr. Cable! Good on Ya!
MAIL ONLINE: Business Secretary Vince Cable today had a remarkable dig at bankers with a sick gag about one being mown down by a disgruntled driver.

In an astonishing joke with reporters he suggested a motorist would not slow down to avoid a financial services worker in the road.

The Liberal Democrat cabinet minister has been a fierce critic of bankers and has advocated taking a 'very strong approach' to beating down their bonuses.

But his gag shared with reporters at a Westminster Press Gallery lunch today, went 'too far', critics said.

He asked what the difference was between a cat being found dead on a motorway and a banker being found dead.

'There were skid marks around the cat,' said Mr Cable. Vince Cable jokes over bankers being 'mown down on motorways' >>> Daily Mail Reporter | Thursday, January 27, 2011

Vince Cable: I Could Bring Down the Government
THE DAILY TELEGRAPH: Vince Cable has privately threatened to “bring the Government down” if he is “pushed too far” during fractious discussions with his Conservative colleagues, The Daily Telegraph can disclose.


The Business Secretary also claims that David Cameron will seek to scrap or reduce the winter fuel allowance paid to pensioners from next year.

He believes that policies are being rushed through by the Conservatives and that ministers should be “putting a brake on” some proposals, which are in “danger of getting out of control”. Mr Cable says that, behind the scenes, the Tories and Liberal Democrats are fighting a “constant battle”, including over tax proposals. Likening the conflict to a war, he says he can always use the “nuclear option” of resignation. His departure from the Government would spell the end of the Coalition, he claims.

The disclosures emerged in a secret recording of a conversation Mr Cable had with two reporters from The Daily Telegraph posing as Lib Dem voters in his constituency.

They provide the first concrete evidence of the level of distrust and infighting taking place within the Coalition. His comments indicate that the public professions of support between the parties may not be a true reflection of what is occurring in Cabinet. Mr Cable has appeared uncomfortable in the Coalition and his comments will lead to speculation that he could be the first high-­profile member of the Government to quit.

Following divisions within the Lib Dems over the raising of tuition fees, this newspaper has begun an investigation into the party’s true feelings towards the Coalition and it discloses widespread unease. >>> Holly Watt, Robert Winnett and Heidi Blake | Monday, December 20, 2010

THE DAILY TELEGRAPH – BLOGS – BENEDICT BROGAN: No one in the Coalition will trust Vince Cable now >>> Benedict Brogan | Tuesday, December 21, 2010

WikiLeaks: 'Cocky' Duke of York Told to Steer Clear of Policy Issues by Vince Cable
THE DAILY TELEGRAPH: The Duke of York has been warned to avoid commenting on policy issues after his candid views on anti-corruption investigations were made public by WikiLeaks.


Vince Cable, the Business Secretary, said that corruption investigations were "not a matter" for the Duke, adding that it would be "helpful" if he steered clear of policy issues in future.

Mr Cable was speaking after leaked documents showed that the Duke, Britain's trade envoy, described the British government as "stupid" during a business brunch at which he surprised an American ambassador with his foul language.

The Duke also railed against the “idiocy” of a Serious Fraud Office investigation into allegations of bribery surrounding BAE Systems and spoke “cockily” in a discussion that “verged on the rude”, according to the ambassador. >>> Gordon Rayner, Robert Winnett and Toby Harnden in Washington | Tuesday, November 30, 2010

Benedict Brogan: Con-Lib Is Back On, Which May Be Why Vince Cable Has Just Been Seen in the Treasury
THE TELEGRAPH – BLOGS: Things are moving towards a deal between David Cameron and Nick Clegg. The Tory leader walked through Portcullis House a short while ago wearing a big smile and with his chief whip by his side. Word is a coalition is about to be agreed with a programme and seats around the Cabinet table for the Lib Dems. More intriguing are reports that Tories have offered policy concessions to sweeten the deal, including parking recognition of marriage in the tax system and inheritance tax. Can’t see it myself, but that’s the word around the rented trees of Port Ho. Read on and comment >>> Benedict Brogan | Tuesday, May 11, 2010

Executive Pay 'Up 10 Per Cent Despite Crash'
THE INDEPENDENT: The pay of executives at the helm of Britain's top companies rose 10 per cent last year despite their organisations suffering huge losses on the stock market, it emerged today.
The full and part-time directors of the FTSE 100 companies took home more than £1bn between them last year, according to The Guardian's annual survey of boardroom pay.

The directors' salary increases were more than three times the 3.1 per cent average pay rise for ordinary workers in the private sector and more than double the rate of inflation last year.

Their bumper pay hikes came at a time when many of their companies were imposing pay freezes and redundancies on staff in a bid to cut costs.

The survey also revealed that the 10 most highly paid executives together earned £170m last year - up from £140m in 2007.

Liberal Democrat Treasury spokesman Vince Cable said: "The Guardian's analysis shows the breathtaking cynicism involved in a lot of executive pay deals, which are unrelated to either personal or corporate performance and involve people who are very well off helping themselves to larger salaries when private sector wages in many companies are being cut."

The increases in executives' basic pay helped compensate for falls in bonuses related to the performance of their companies.
Overall pay for directors of FTSE companies, including bonuses, fell by an average of 5 per cent, with the average chief executive of a bluechip company now earning a basic salary of £791,000.

But taking into account bonus payments, share awards and the value of perks ranging from cars and drivers to school fees and dental work, the average pay package rises dramatically, the newspaper said.

Nearly a quarter of FTSE chief executives received total 2008 pay packages worth more than £5m, and 22 directors now have basic salaries of more than £1m. >>> Rosamond Hutt, Press Association | Monday, September 14, 2009

Executive Pay Keeps Rising, Guardian Survey Finds
THE GUARDIAN: Full and part-time directors of FTSE 100 shared between them more than £1bn

Bart Becht, the chief executive of Reckitt Benckiser, was rewarded with £36.8m in pay, bonuses, perks and share incentive schemes. Photo: The Guardian
Executives at Britain's top companies saw their basic salaries leap 10% last year, despite the onset of the worst global recession in decades, in which their companies lost almost a third of their value amid a record decline in the FTSE.

The Guardian's annual survey of boardroom pay reveals that the full- and part-time directors of the FTSE 100, the premier league of British business, shared between them more than £1bn.

Bonus payouts were lower, but the basic salary hikes were more than three times the 3.1% average pay rise for ordinary workers in the private sector. The big rise in directors' basic pay – more than double the rate of inflation last year – came as many of their companies were imposing pay freezes on staff and starting huge redundancy programmes to slash costs.

The Guardian data also shows that a coterie of elite bosses at the helm of multinational corporations are seeing their overall pay packets soar ever higher. The 10 most highly paid executives earned a combined £170m last year – up from £140m in 2007. Five years ago, the top 10 banked some £70m.

The Liberal Democrat Treasury spokesman, Vince Cable, said: "The Guardian's analysis shows the breathtaking cynicism involved in a lot of executive pay deals, which are unrelated to either personal or corporate performance and involve people who are very well off helping themselves to larger salaries when private sector wages in many companies are being cut." >>> Julia Finch and Simon Bowers | Monday, September 14, 2009