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Vince Cable MP

Business Secretary

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  • 13:41 Vince Cable: The Lib Dems could work with Labour in the national interest On air

    On Air | Vince Cable MP | Business Secretary | Sunday Politics London, BBC One Video Vince Cable MP

    Vince Cable said he could work with Labour in the national interest. "I’ve worked with a team of Tory ministers, we don’t agree on a lot of things, but we work as a business-like team and I would a adopt the same approach to the Labour p... Continue to article

  • = Key Development Friday 30th January
  • 19:30 Vince Cable: We have a moral duty to help the country have stable government On air

    On Air | Vince Cable MP | Business Secretary | Channel 4 News Video Vince Cable MP

    Vince Cable was pressed on how the Liberal Democrats would approach a future coalition. “I think we have a moral duty to help the country have stable government. And I think we have a moral duty to respect the views of the electorate.” ... Continue to article

  • = Key Development Monday 26th January
  • 19:06 Transcript: Vince Cable comment on eurozone / Greece Transcripts

    Vince Cable comment on eurozone / Greece Transcripts

    Business Secretary Vince Cable said: “There is no reason for the situation in Greece to lead to another Eurozone crisis. Several European countries have enjoyed substantial debt relief in the past and many emerging economies have done so... Continue to article

  • 08:54 Story (2 links): Cable to push banks on branch closures

    PoliticsHome Cable to push banks on branch closures Story View links

    Vince Cable will ask banks to strengthen their links with the Post Office when they close branches in rural communities.

    Tomorrow, the Business Secretary will meet representatives of the UK’s biggest banks, which together closed almost 500 branches last year.

  • = Key Development Friday 16th January
  • 16:14 In Brief Events

    16:14 | Events | PoliticsHome Events

    Prime Minister David Cameron meets Turkish Prime Minister Ahmet Dauvutoglu at 10 Downing Street (5:15pm) Business Secretary Vince Cable delivers the 2015 Robert Schuman lecture in Brussels on transforming the European digital economy (11... Continue to article

  • = Key Development Thursday 15th January
  • 14:10 Vince Cable: North Sea oil firms want stability, not fiddling On air

    On Air | Vince Cable MP | Business Secretary | Sky News Video Vince Cable MP

    Vince Cable said companies wanted 'stability' rather than 'fiddling' in the North Sea oil tax regime, after BP announced a round of job cuts. "The message we've consistently had back from the industry is they want stability and consisten... Continue to article

  • = Key Development Friday 9th January
  • 13:31 Guardian: Vince Cable apologises for not declaring £6,000 donation in the formof polling News

    News | The Guardian source icon

    Business secretary breached rules by failing to declare donation-in-kind from former Liberal Democrat peer Lord Oakeshott Vince Cable, the business secretary, has been forced to apologise for failing ... Continue to article

  • = Key Development Thursday 8th January
  • 23:15 Cable: we must be intolerant of intolerance in wake of Paris attacks PoliticsHome News

    Cable: we must be intolerant of intolerance in wake of Paris attacks PoliticsHome News

    Vince Cable has warned about the dangers of turning against the Muslim community in the wake of the attacks in Paris. Appearing on BBC’s Question Time, the Business Secretary said the public should be “very, very careful” not to allow in... Continue to article

  • 10:30 Umunna urges inquiry into City Link collapse House of Commons

    Umunna urges inquiry into City Link collapse House of Commons

    Labour has called on the Government to implement a full inquiry into the collapse of parcel delivery firm City Link. Over 2,500 employees of the firm have lost their jobs since it went into administration on Christmas Eve, with 230 fresh... Continue to article

  • = Key Development Monday 29th December
  • 14:28 Transcript: City Link - letter from Chuka Umunna to Vince Cable Transcripts

    City Link - letter from Chuka Umunna to Vince Cable Transcripts

    The Rt Hon Vince Cable MP Secretary of State for Business, Innovation and Skills 1 Victoria Street London SW1H 0ET Monday 29 December 2014 Dear Vince, I am writing to you with regard to City Link Group ("City Link") entering into a... Continue to article

  • = Key Development Friday 19th December
  • 09:49 Farage attacks Cable's 'Marxist' sell off of Royal Mail PoliticsHome News

    Farage attacks Cable's 'Marxist' sell off of Royal Mail PoliticsHome News

    Nigel Farage has said that Vince Cable is not fit for purpose and that he made a “made a pig’s ear” of the Royal Mail sale. Speaking on his LBC radio show Phone Farage, the Ukip leader attacked the Liberal Democrat Business Secretary Mr ... Continue to article

  • = Key Development Thursday 18th December
  • 15:09 Chris Blackhurst: What Lord Myners tells us about the Royal Mail sell-off shows just how good the City is at looking after itself News

    Opinion | The Independent source icon

    This is a report that leaves a very nasty taste Continue to article

  • 13:26 SNP: Report shows Royal Mail undervalued in botched sell-off Press Release

    13:26| Press Release

    SNP press release In a report out today the former Business Minister Lord Myners has suggested that there was a £180 million shortfall in the sale of Royal Mail last year as the shares could have been sold for 30p more per share – but we... Continue to article

  • 12:52 CWU: Myners report ‘cover-up’ Press Release

    12:52| Press Release

    Communication Workers Union press release A government-commissioned report about last year’s privatisation of Royal Mail has been branded a “cover-up” today (Thursday) by the Communication Workers Union (CWU). The report, commissioned ... Continue to article

  • 12:17 Chuka Umunna: Taxpayers were disgracefully short-changed by the sale of Royal Mail On air

    On Air | Chuka Umunna MP | Shadow Business Secretary | BBC News Video Chuka Umunna MP

    Chuka Umunna accused the Government of doing a “rush job” on the sale of Royal Mail.  “There was no need to do the rush job that the Government did. There was no need for them to go ahead and sell Royal Mail when they did. They were the ... Continue to article

  • 11:29 Story (13 links): Clegg defends Cable over Royal Mail sale

    PoliticsHome Clegg defends Cable over Royal Mail sale Story View links

    Vince Cable "struck the right balance" when setting the price of Royal Mail shares prior to its sell-off by the Government, Nick Clegg has insisted.

    The Government sold 60% of the company at 330p a share in October 2013, raising almost £2bn, but MPs subsequently suggested the deal could have seen taxpayers short-changed by up to £1bn.

    But the Deputy Prime Minister said a report by former City minister Lord Myners released today showed the Business Secretary had been wise to exercise caution over the valuation.

    "Let’s remember what this report says, he says that it was done professionally, done well, mindful of the public interest, getting the right value for taxpayers," Mr Clegg said on his weekly LBC radio phone-in.

    "People said 'oh, it’s been undervalued by £1bn'. Actually, it was sold at £2bn and you could have possibly got £180m more – a much, much smaller amount than people were suggesting, but you couldn’t have done that without taking additional risks."

    Lord Myners said this morning that while it was "possible" for Royal Mail to have been sold "for 20p or 30p more a share," this would have added "considerable risk into the transaction".

    "Actually, it was on balance a well-executed, complex exercise," he told the Today programme.

    "The Government managed to achieve its objective: privatising the Royal Mail, exposing it to market discipline and importantly access to private capital should it require further capital in the future."

    Dr Cable, who commissioned the report, welcomed its insights, saying: “Any decision to try to have priced the shares higher would have been risky. We were right not to take that risk.”

     

  • 10:30 Labour: Today’s Government-commissioned report confirms Minsters could have secured a higher price for the sale of Royal Mail Press Release

    10:30| Press Release

    Labour press release Chuka Umunna MP, Labour’s Shadow Business Secretary, commenting on the BIS-commissioned report on Government asset sales following the privatisation of Royal Mail chaired by Lord Myners, said: “This Government-comm... Continue to article

  • 10:24 Jonathan Guthrie: Royal Mail’s red herrings (£) News

    Opinion | The Financial Times source icon

    Lord Myners’ push to shake-up initial public offerings may need a shove Continue to article

  • 08:10 Lord Myners: Better share price could have been achieved in Royal Mail sell-off On air

    On Air | Lord Myners | Former City minister | Today, BBC Radio 4 Video Lord Myners

    Lord Myners said the Government could have achieved a higher share price in its sale of Royal Mail, but added that the priority had been to secure successful privatisation.   “Actually it was on balance a well-executed, complex exercise.... Continue to article

  • = Key Development Wednesday 17th December
  • 10:44 Unemployment falls again but more to be done – Vince Cable Press Release

    10:44| Press Release

    A press release from the Liberal Democrats:   Unemployment falls again but more to be done – Vince Cable Vince Cable today welcomes a “remarkable set of labour market figures” but said there was still more to be done. ONS figures ou... Continue to article

  • = Key Development Sunday 14th December
  • 09:50 Vince Cable: Torture allegations undermine our civilised society On air

    On Air | Vince Cable MP | Business Secretary | The Andrew Marr Show, BBC One Video Vince Cable MP

    Vince Cable said that the allegations of British involvement in torture were “appalling”. “I certainly don’t rule out [a judge-led inquiry]. At the moment we’ve got several inquiries taking place at the same time. The police are looking ... Continue to article

  • = Key Development Tuesday 9th December
  • 08:18 Story (3 links): Govt reach 2m apprenticeship mark

    PoliticsHome Govt reach 2m apprenticeship mark Story View links

    The Business Secretary will today announce that the Government has reached its target of creating two million apprenticeships within the parliament.

    At an event in Oxford, Vince Cable will say: “Apprenticeships are the ticket to a great job and a route employers trust to access the skills they need.”

    Skills Minister Nick Boles insisted it was “just the start” and wanted to “see employers making apprenticeships a key part of their strategies for growth”.

    Meanwhile, the latest data from Visa Europe has found consumer spending rose 2% in November, compared to a year earlier.

  • = Key Development Monday 8th December
  • 13:13 In Brief Events

    13:13 | Events | PoliticsHome Events

    Prime Minister David Cameron visits Turkey Health Secretary Jeremy Hunt (4:00pm) and shadow health secretary Andy Burnham (12:30pm) speak at the Britain against cancer conference (Central Hall, Westminster) Energy Secretary Ed Davey a... Continue to article

  • = Key Development Sunday 7th December
  • 10:47 Damian Green: I don't see the additional value in state money for food banks On air

    On Air | Damian Green MP | Conservative MP | Murnaghan, Sky News Video Damian Green MP

    Damian Green said he didn't see the value in the state providing funding for good banks, and described the Archbishop of Canterbury's proposals as "nationalisation". "I don’t mind church leaders intervening in political issues as long as... Continue to article

  • = Key Development Friday 5th December
  • 16:29 In Brief Events

    16:29 | Events | PoliticsHome Events

    Prime Minister David Cameron hosts a Downing Street event on coding and has announced plans for maths and science in schools Leader of the Opposition Ed Miliband participates in a Leaders Live online debate with young people (5:30pm) ... Continue to article

  • = Key Development Thursday 4th December
  • 17:08 Story (11 links): Clegg explains Autumn Statement absence

    PoliticsHome Clegg explains Autumn Statement absence Story View links

    Nick Clegg has downplayed his absence from yesterday’s Autumn Statement amid heightening tensions between the two parties of the Coalition.

    The Deputy Prime Minister decided not to attend the Chancellor’s speech outlining spending and tax plans, instead going to Cornwall.

    “The reason I wasn’t there… I had a choice: did I listen to Ed Balls in the House of Commons or did I actually go out and talk to normal people?” he told his LBC phone-in show.

    The Daily Telegraph had reported a source saying his absence was because he “doesn’t want to sit next to David Cameron or George Osborne”.

    The Lib Dem leader also distanced himself from Vince Cable’s attack on the Conservative party.

    Mr Clegg said he was “proud” of yesterday’s announcements, describing it as a “Liberal Democrat Autumn Statement as much as anything else”.

    Dr Cable accused the Tories of trying to balance the books “brutally” and has written to the Office for Budget Responsibility to demand it sets out the differences between Tory and Liberal Democrat plans.

    The Business Secretary yesterday implied that the Treasury has not been honest enough about the impact of future spending cuts.

    George Osborne hit back at the criticism of him emerging from Liberal Democrats.

    “In private, they sign up to all these decisions and then in public they slag them off. But that’s for them to explain to you,” he said on Sky News. 

  • 15:36 Nick Clegg tweets: Out and about in Cornwall with Dan Rogerson MP announcing funding to improve to coastal path

    Twitter | Nick Clegg Twitter source icon

  • 10:33 DPM: Deputy Prime Minister commits millions for coastal paths Press Release

    10:33| Press Release

    DPM press release More than £5.3m committed on visit to Port Gaverne Today the Deputy Prime Minister confirmed extra funding to speed up the completion of coastal paths around England on a visit to Port Gaverne in Cornwall. The cash... Continue to article

  • 10:11 Nick Clegg: I missed the Autumn Statement because I was in Cornwall On air

    On Air | Nick Clegg MP | Deputy PM and Lib Dem leader | Call Clegg, LBC Radio Video Nick Clegg MP

    Nick Clegg said he didn’t attend yesterday’s Autumn Statement because he chose instead to “go out and talk to normal people” in Cornwall.   “The reason I wasn’t is I had a choice. Look, I have been doing these autumn statements and budge... Continue to article

  • = Key Development Wednesday 3rd December
  • 15:23 Vince Cable: Lib Dems will take into account stamp duty reforms regarding the mansion tax On air

    On Air | Vince Cable MP | Business Secretary | BBC News Video Vince Cable MP

    Vince Cable said stamp duty reforms could change the Liberal Democrats' approach to the mansion tax. "The stamp duty reforms are very good, they will help young people trying to get into the market for the first time for whom stamp duty ... Continue to article

  • = Key Development Monday 1st December
  • 16:30 Cable hints at crackdown on arms traders PoliticsHome News

    Cable hints at crackdown on arms traders PoliticsHome News

    Vince Cable has said he would consider a change in the law to prevent torture weapons being advertised for sale at arms fairs in the UK. The Business Secretary said there was a case for reviewing legislation to ensure that firms promotin... Continue to article

  • = Key Development Friday 28th November
  • 18:06 House of Commons Business Commons Business

    18:06 | Commons Business | PoliticsHome Commons Business

    COMMONS CHAMBER 2:30pm: Education questions (topicals at 3:15pm) Main business Criminal Justice and Courts Bill: Consideration of Lords amendments Political and Constitutional Reform Committee, Administration Committee, Science a... Continue to article

  • = Key Development Thursday 27th November
  • 20:00 Ed masters discipline The House Magazine

    20:00 | The House Magazine | PoliticsHome The House Magazine Ed masters discipline

      Words: Paul Waugh Photos: Paul Heartfield     Ed Balls is feeling the pressure. In just a few days, he faces yet another big test of his ability, with huge amounts at stake if he fails. But it’s not the Autumn Statement tha... Continue to article

  • = Key Development Thursday 20th November
  • 12:57 Vince Cable: Incompetence is to blame for RBS IT failures On air

    On Air | Vince Cable MP | Business Secretary | Sky News Video Vince Cable MP

    Vince Cable said computer system failures at RBS were a result of bad behaviour and bad management.   “This one is incompetence rather than misconduct. It has been disastrous for numerous households who have had to get compensation. Unfo... Continue to article

  • 09:32 Cable and Davies clash over ethnic diversity in boardrooms House of Commons

    Cable and Davies clash over ethnic diversity in boardrooms House of Commons

    The Conservatives and the Lib Dems have clashed over the issue of ethnic diversity in boardrooms, with the Business Secretary hinting that a Tory opponent to his campaign to improve representation may be against equality altogether. Phil... Continue to article

  • = Key Development Monday 17th November
  • 17:17 In Brief Events

    17:17 | Events | PoliticsHome Events

    Chancellor George Osborne speaks at the Newspaper Conference’s annual lunch in London Health Secretary Jeremy Hunt speaks at the Foundation Trust Network conference in Liverpool (2:00pm) Business Secretary Vince Cable speaks at the As... Continue to article

  • = Key Development Thursday 6th November
  • 10:09 Vince Cable: Public needs reassurance on fuel prices On air

    On Air | Vince Cable MP | Business Secretary | Sky News Video Vince Cable MP

    Vince Cable backed his Lib Dem Cabinet colleague Danny Alexander’s call for petrol and diesel distributors to pass on the falls in oil prices to consumers. “It’s the right thing to do. There is a lot of public cynicism that when world oi... Continue to article

  • 10:09 Vince Cable: Public needs reassurance on fuel prices On air

    On Air | Vince Cable MP | Business Secretary | Sky News Video Vince Cable MP

    Vince Cable backed his Lib Dem Cabinet colleague Danny Alexander’s call for petrol and diesel distributors to pass on the falls in oil prices to consumers. “It’s the right thing to do. There is a lot of public cynicism that when world oi... Continue to article

  • = Key Development Tuesday 4th November
  • 14:24 Vince Cable: Cost implications of holiday pay ruling are exaggerated On air

    On Air | Vince Cable MP | Business Secretary | Sky News Video Vince Cable MP

    Following a ruling by an employment tribunal that voluntary overtime should count towards holiday pay, Vince Cable said the cost implications may have been exaggerated.   “I don’t think anybody should be jumping to conclusions because th... Continue to article

  • = Key Development Thursday 30th October
  • 20:00 News

  • = Key Development Tuesday 28th October
  • 17:33 News

  • = Key Development Monday 27th October
  • 15:13 News

  • = Key Development Wednesday 22nd October
  • 12:13 News

  • = Key Development Monday 20th October
  • 08:40 News

  • = Key Development Thursday 16th October
  • 20:00 News

  • = Key Development Wednesday 8th October
  • 15:22 News

  • = Key Development Tuesday 7th October
  • 22:45 News

  • = Key Development Monday 6th October
  • 19:17 News

  • 17:15 News

  • 14:56 News

Stories involving Vince Cable

Cable to push banks on branch closures

Vince Cable will ask banks to strengthen their links with the Post Office when they close branches in rural communities.

Tomorrow, the Business Secretary will meet representatives of the UK’s biggest banks, which together closed almost 500 branches last year.


Govt reach 2m apprenticeship mark

The Business Secretary will today announce that the Government has reached its target of creating two million apprenticeships within the parliament.

At an event in Oxford, Vince Cable will say: “Apprenticeships are the ticket to a great job and a route employers trust to access the skills they need.”

Skills Minister Nick Boles insisted it was “just the start” and wanted to “see employers making apprenticeships a key part of their strategies for growth”.

Meanwhile, the latest data from Visa Europe has found consumer spending rose 2% in November, compared to a year earlier.


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."


Clegg defends Cable over Royal Mail sale

Vince Cable "struck the right balance" when setting the price of Royal Mail shares prior to its sell-off by the Government, Nick Clegg has insisted.

The Government sold 60% of the company at 330p a share in October 2013, raising almost £2bn, but MPs subsequently suggested the deal could have seen taxpayers short-changed by up to £1bn.

But the Deputy Prime Minister said a report by former City minister Lord Myners released today showed the Business Secretary had been wise to exercise caution over the valuation.

"Let’s remember what this report says, he says that it was done professionally, done well, mindful of the public interest, getting the right value for taxpayers," Mr Clegg said on his weekly LBC radio phone-in.

"People said 'oh, it’s been undervalued by £1bn'. Actually, it was sold at £2bn and you could have possibly got £180m more – a much, much smaller amount than people were suggesting, but you couldn’t have done that without taking additional risks."

Lord Myners said this morning that while it was "possible" for Royal Mail to have been sold "for 20p or 30p more a share," this would have added "considerable risk into the transaction".

"Actually, it was on balance a well-executed, complex exercise," he told the Today programme.

"The Government managed to achieve its objective: privatising the Royal Mail, exposing it to market discipline and importantly access to private capital should it require further capital in the future."

Dr Cable, who commissioned the report, welcomed its insights, saying: “Any decision to try to have priced the shares higher would have been risky. We were right not to take that risk.”

 


Clegg explains Autumn Statement absence

Nick Clegg has downplayed his absence from yesterday’s Autumn Statement amid heightening tensions between the two parties of the Coalition.

The Deputy Prime Minister decided not to attend the Chancellor’s speech outlining spending and tax plans, instead going to Cornwall.

“The reason I wasn’t there… I had a choice: did I listen to Ed Balls in the House of Commons or did I actually go out and talk to normal people?” he told his LBC phone-in show.

The Daily Telegraph had reported a source saying his absence was because he “doesn’t want to sit next to David Cameron or George Osborne”.

The Lib Dem leader also distanced himself from Vince Cable’s attack on the Conservative party.

Mr Clegg said he was “proud” of yesterday’s announcements, describing it as a “Liberal Democrat Autumn Statement as much as anything else”.

Dr Cable accused the Tories of trying to balance the books “brutally” and has written to the Office for Budget Responsibility to demand it sets out the differences between Tory and Liberal Democrat plans.

The Business Secretary yesterday implied that the Treasury has not been honest enough about the impact of future spending cuts.

George Osborne hit back at the criticism of him emerging from Liberal Democrats.

“In private, they sign up to all these decisions and then in public they slag them off. But that’s for them to explain to you,” he said on Sky News. 


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.


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