Cable vs Osborne
Fraser Nelson 3:32pm
George Osborne’s main opponent isn’t Alistair Darling. It’s Vince Cable. As former chief economist at Shell, he’s that rare thing – a politician who knows what he’s talking about. Today he releases an “open letter” saying what I have heard some senior Tories say in private. The charge is that Osborne has come back from Wall St having swallowed what the banks told him in his proposal that that the government should swap mortgage-based assets for government bonds.
PoliticsHome has the text. An extract:-
“You say the bankers agree with you. Of course they do. It is their job to maximise profits for themselves and lay off risks to someone else. It is our job as responsible ministers or shadow ministers to protect taxpayers, not let the banks and other businesses take us for a ride.”
Osborne and Cable should not be competing to attack Brown. They should be competing to present the clearest and most steadfast analysis of events. Cable did so well on Northern Rock because he was as constant as the North Star from the start. He avoided the shrill attacks that I suspect Clegg would have attempted. He put the focus on explanation, not partisanship. And a baffled public warmed to him.
Often it seems the Tory policy is to work out what the government will do next week, call for it, and then claim the government is copying them. I have no idea if this has happened this time, but it’s a fool’s game. Now is the time to articulate a clear, coherent and Conservative way forward – one that can, above all, be grasped by ordinary voters. In spite of all this (and Cameron’s piece in the Telegraph today) they are still some distance away from this.
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Diversity
April 18th, 2008 4:10pm Report this commentArticulating a better, clear, coherent alternative is easy: just copy the rest of what Cable has put forward. The problem is making it Conseravtive
Bruce Robertson
April 18th, 2008 4:32pm Report this commentIs Cable the only MP in the House with a clue? It's beginning to look that way.
TrevorH
April 18th, 2008 5:06pm Report this commentI grow tired of this 'Vince Cable for England' tendency.
I saw him criticise the proposed BoE swap of loans for assets. In fact he agreed it was a good idea, but criticised the details. Only problem is there are no details yet. This is the same idea that you now criticise Osborne for supporting, so in fact they BOTH support the idea.
The BBC SKY etc have an idea in their head that Cable knows what he is talking about (in fact his idea to nationalise Northern Rock is rubbish - all that has done is allow the taxpayer to subsidise as many jobs, ie labour votes, as possinble in the NE) so just play to him uncritically, you would never guess he was a politician.
Ypou are now doing just the same, never mind that the 'rare beast' you praise is in fact the same beast - an economist - that have got the banks into trouble in the first place.
Cable knows no more about what he is talking about than my cat.
THX1138
April 18th, 2008 5:11pm Report this commentCable V Osborne. And The Winner is by a KO in the 1st round Vince "The Killer" Cable.
TGF UKIP
April 18th, 2008 5:19pm Report this commentThe only possible good thing to say about Cameron is that he is at least more impressive than Boy George. What a pathetic pair of pc, me-too social democrats they really are.
Fraser Nelson
April 18th, 2008 6:47pm Report this commentTrevorH, I'm not saying Cable has superior policies. But his powers of expression are remarkable, which is why he is seen as the oracle by Sky/BBC. If you're a TV producer, taking a risk on a ratings-losing finance story, you need someone who can make sense to the viewers. Thats why Cable does so well. The political "winner" from this will be the one with the clearest policies, not necessarily the best. To trust someone, the public must first understand him. I'm a big fan of Osborne, whch is perhaps why I'm unduly hard on him. I want him to be seen as the voice of reason during all this. Can't your cat stand for election? Should be a nice, safe seat coming up in Henley...
David Lindsay
April 18th, 2008 6:49pm Report this commentNationalise the banks debts, eh? Who are the lame ducks now?
Ian C
April 18th, 2008 7:10pm Report this commentTrevorH has Cable sussed. If Cable had not been promoting nationalisation Brown would never have got away with it. The idea that he is the fount of all that is good in Parliament today is mystifying - he just had and easier deck of card to play than anyone else and he played them well. But the idea that we can nationalise uk mortgages to solve the problem is for green men in spaceships - aka little bankers and British politicians. Cameron & Co should let the gov't dig itself out o fits own mess and if Cable wants to lead them off down the next path to 'nationalruination', let them. He has nothing to gain by wading in at this stage.
Simon
April 18th, 2008 7:41pm Report this commentGeorge Osborne has disgusted me with his shallow appreciation of the Credit Crunch.
Vince Cable is on the money again, as he was with Northern Rock.
I am rapidly losing respect for George and the Tories.
Ann
April 18th, 2008 9:30pm Report this commentQuite right, Trevor.
Chief economist, eh? I have come across plenty of economists who had no clue what they were talking about. Some of them were even Nobel laureates, and some set up huge companies that went bankrupt very quickly.
Diablo
April 18th, 2008 11:25pm Report this commentI am surprised that you have not drawn attention to John Redwood's excellent (and clear) analysis of the NR situation and his remarks on what needs to be done about the liquidity crisis.
Max Kaye
April 19th, 2008 10:21am Report this commentVince Cable has a neat way with phrases and a clear and calm debating style that doesn't rankle with voters. He seems a very nice guy (Unless, of course, you happen to be Mr McBean).
But, if he's so clever, why is he a Lib-Dem?
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