
Vince Cable’s borrowing bombshell
It is only towards the tail end of his lengthy New Statesman essay on ‘the long economic stagnation of post-crisis Britain’ that Vince Cable lets off one of his bombshells. He’s clearly freelancing, and not at a bad time, either, given it’s his party’s Spring Conference this weekend. Although it’s possibly not enormously helpful for the Prime Minister, who is giving a major speech on the economy tomorrow. The Business Secretary examines misinterpretations of Keynesianism and the effect of the government’s deficit reduction programme on the economy before dropping this: ‘Nevertheless, one obvious question is why capital investment cannot now be greatly expanded. Pessimists say that the central government is
