Phi Wire Hand Picked Politics - Live

  • Sophie Neuburg | Why Labour should make energy efficiency their top infrastructure priority

    • source icon
    • 13:24
  • John Curtice | Panelbase Still Put No Ahead

    • source icon
    • 12:18
  • Brendan O'Neill | Is the Left anti-Semitic? Sadly, it is heading that way

    • source icon
    • 11:30
  • Hamas says agrees to new 24-hour humanization truce in Gaza - spokesman

    • source icon
    • 11:21
  • This Miliband Public PMQs idea sounds interesting. How about a 1 hour session wh...

    • source icon
    • 11:20
  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

  • PoliticsHome | Only the latest five entries on the PhiWire are visible to non-subscribers

RSS

Vince Cable MP

Business Secretary

Green Box: Vince CableClick to open

Only Recommended
+ Expand all - Collapse all

Stories involving Vince Cable

Cable bank 'needs £40bn'

New research has found Vince Cable's plan for a Government-backed business bank will need £40bn of taxpayer funding to be successful. A report by the IPPR think tank says that direct Government money for the scheme would be essential, something the Treasury is understood to be against. Tony Dolphin, the IPPR's chief economist, said: "A fully-fledged British investment bank should not be held back by the vagaries of the UK's accounting practices. Its self-financing activities should be excluded from the Government's target fiscal measures and it should be free to raise funds on capital markets."


Cable outlines industrial plans

Vince Cable has indicated improving access to finance for businesses will be a key part of the Government’s new industrial strategy which he will set out in more detail tomorrow.

Speaking in the House of Commons after Labour was granted an Urgent Question, the Business Secretary confirmed the Government was “actively looking” at the possibility of setting up a business bank to improve access to finance.

Other key areas he highlighted were dealing with problems sector-by-sector, improving technology, better skills for workers, and changing public sector procurement.

Dr Cable’s Labour counterpart Chuka Umunna was given the opportunity to scrutinise the plans ahead of the Business Secretary's announcement tomorrow.

Earlier today, the Business Department unveiled plans to exempt thousands of small businesses from health and safety regulations. At least 3,000 regulations, which some businesses have complained are holding them back, are to be removed.

Dr Cable promised the Government would now be "holding departments' feet to the fire to ensure all unnecessary red tape is cut".


Cable calls for 'plan A +'

Vince Cable has said the Government should ensure the benefits of an "aggressive" monetary policy can be felt in all parts of the economy – a policy which he describes as “plan A+”.

But Downing Street today has played down the idea the idea it is changing its strategy. A spokesperson said: "We have one plan and it is a credible plan."

In a speech to the Centre Forum think tank, the Business Secretary said there was scope for using Government guarantees more ambitiously, while still maintaining fiscal discipline and sticking to the Government's deficit reduction commitments.

He argued the guarantee model could be expanded and scaled up to fund infrastructure - in particular social housing.


Cable to adjudicate on BAE-EADS merger

Vince Cable is to be given 'quasi-judicial' powers over the proposed merger of defence firms BAE and EADS should the deal go ahead. Dr Cable will be given sole Government power over a move that is becoming increasingly politicised as concerns escalate over the possible national security implications. The Times reports that the merger would trigger an assessment under the Enterprise Act 2002, which requires the Business Secretary to approve mergers involving national security.


Major whip slams Osbo

A former Tory chief whip has lashed out at George Osborne and David Cameron, saying they are "tacticians" without a strategic vision for the Government.

Lord Ryder, who served as chief whip in John Major's government, accused the Prime Minister and the Chancellor of being "obsessed" with 24 hour news at the expense of the bigger picture.

Responding to claims that Mr Osborne spends too much time focused on political strategy, he said: "He's not a strategist at all, he's a tactician. Both he and Mr Cameron are tacticians and this government lacks a strategist...

"He and Mr Cameron seem to be obsessed with the management of 24 hour news, they're news editors, if you like, news managers, not strategists."

There was better news for Mr Osborne earlier when the head of the OECD gave his backing to the Coalition's austerity measures.

Yesterday's announcement that the UK economy had contracted by 0.7% in Q2 put the pressure on Mr Osborne and led the former Lib Dem Treasury spokesman Lord Oakeshott to joke that he was "doing surprisingly well for a Chancellor on work experience".

But OECD General Secretary José Ángel Gurría defended the Chancellor, saying he should stay the course and was "sowing the seeds of what will be the elements for recovery" and "you have to have credible public finances before you start moving on the growth".

Lord Oakeshott called for Business Secretary Vince Cable to be considered for the role. Mr Cable told the media that while he would "probably" be a good fit for the position, the Chancellor was doing a good job:

"I’m not pushing for the job. We’re part of a team; we have a collectively agreed policy, and I’m delivering on my bit of it, which centres particularly on the area of industrial strategy, and I’m not proposing a radically different approach. I would be building on what George Osborne has already achieved."


News Corp 'threats' to Lib Dems

Vince Cable has said the Liberal Democrats faced “veiled threats” from News International if the BSkyB takeover was not given the green light.

Giving evidence to the Leveson Inquiry, the Business Secretary said he believed the threats about Liberal Democrats' depictions in News International newspapers had come after a conversation with News Corporation lobbyist Frederic Michel.

He also hit out at Mr Michel's “systematic attempt to politicise the process” of adjudicating on the takeover. He confirmed he had been told about this by Liberal Democrat colleagues who had spoken with Mr Michel.

“I’m trying to explain the context in which I made my own comments [to undercover Telegraph journalists]… and what it was that had made me seriously disturbed.”

Dr Cable explained he was in an “emotional frame of mind” when he told two undercover Daily Telegraph reporters he was “waging war” on the Murdoch empire.

“There was a near riot taking place outside my constituency office… in order to prevent the disorder getting out of control, I invited in some of the protestors into my office. We had a very long conversation… I was struggling to keep my temper in this situation…

“I was in an extremely tense and emotional frame of mind. And the two women who I thought were constituents… I did offload onto them a lot of pent-up feeling, to just about the BSkyB case that I was dealing with but my colleagues in Government… in language I wouldn’t usually use.”

Also appearing at Leveson today was Justice Secretary Ken Clarke, who said that the media had "far greater" power than Parliament does.

Mr Clarke urged the inquiry not to curtail free speech, but argued the power of the media “has grown, is excessive, and ought to be diminished”.