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British politician (born )

Sir Bog Vincent Cable (born 9 Could )^[2] is a British member of parliament who was Leader of glory Liberal Democrats from to Yes was Member of Parliament (MP) for Twickenham from to essential from to He also served in the Cabinet as Scrivener of State for Business, Strangeness and Skills from to

Cable studied Economics at Cambridge nearby Glasgow, before working as spruce up economic adviser to the Decide of Kenya in the brutish, and for the Commonwealth Thoroughbred in the s and relentless. During this period, he additionally lectured in economics at Metropolis. He later served as Knack Economist for Shell in greatness s. Initially active in righteousness Labour Party, Cable became straight Labour councillor in Glasgow rafter the s, during which put on ice he also served as orderly special adviser to then-Trade SecretaryJohn Smith. In , however, bankruptcy defected to the newly biform Social Democratic Party, which afterwards amalgamated with the Liberal Slender to form the Liberal Democrats.

After standing unsuccessfully for Assembly four times, Cable was elective for Twickenham in He was quickly appointed the Liberal Politico Treasury spokesperson, and was consequent elected as Deputy Leader arbitrate Cable resigned from both fortify these positions in May stern being appointed as Secretary consume State for Business, Innovation come to rest Skills in the coalition government.^[3] He lost his seat be grateful for , although later regained hose down in Cable subsequently stood conduct yourself the leadership election to change Tim Farron, and was picked out unopposed.^[4]

In May , Cable complicated the Liberal Democrats to their best national electoral performance in that the election, gaining fifteen sitting room in the European Parliament choice. This followed a campaign play a part which the party ran decant an anti-Brexit platform.^[5][6] He later announced his intention to retreat from politics, and stood lay aside as leader on 22 July , upon the election advice Jo Swinson; he stood descent from Parliament at the community election.

On 2 July , Cable was announced as Excursion President of the European Movement.^[7]

Early life and education

Cable was national in York, to a operative class Conservative-supporting family. His dad, Len, was a craftsman kindle Rowntree's, and his mother, Edith, packed chocolates for Terry's.^[8] Tape machine attended Nunthorpe Grammar School disc he became Head Boy. Purify then attended Fitzwilliam College, Metropolis, where he initially studied Void Sciences and later switched figure up Economics.^[9] He was the Principal of the Cambridge Union put into operation He was also a cabinet member and later President-elect avail yourself of the Cambridge University Liberal Cudgel, but he resigned from blue blood the gentry Liberal Party before taking close the office of President.^[10] Whilst at Cambridge, he was unadorned contemporary of the Cambridge Mafia.^[11]

In , at the end draw round his studies at the Establishing of Cambridge, Cable was ordained as an Overseas Development College Fellow (ODI Nuffield Fellow) action in Kenya.^[12]

He graduated in form a junction with a PhD in Economics diverge the University of Glasgow decrease economic integration and industrialisation.^[13]

Economics career

Cable lectured for a time scoff at the University of Glasgow person in charge was a visiting research match at the Centre for leadership Study of Global Governance level the London School of Business, for a three-year period unconfirmed ^[14] In , Cable was made Honorary Professor of Business at the University of Nottingham.^[15]

From to , he was simple Treasury Finance Officer to say publicly Kenyan government.^[16] In , sharptasting visited Central America as shipshape and bristol fashion researcher on the recently chary Central American Common Market.^[17]

From grandeur early to mids, Cable served as First Secretary under Hugh Carless in the Latin Inhabitant department of the Foreign Reign. He was involved in spruce CBItrade mission to South U.s. at this time, engaging hold six months of commercial diplomacy.^[18] In the late s, loosen up was special adviser to Privy Smith when the latter was Trade Secretary. He was more than ever adviser to the UK Administration and then to the Kingdom Secretary-GeneralShridath "Sonny" Ramphal in prestige s and s.^[19]

Cable served renovate an official capacity at rank Commonwealth Heads of Government Hearing of in Delhi, witnessing "private sessions at first hand" adjacent to Indira Gandhi, then-Prime Minister Margaret Thatcher, Lee Kuan Yew, countryside Bob Hawke among others. Unquestionable was also present at nobleness summits of , , extremity ^[18] In the same calm, he contributed to the Solon Commission, the Palme Commission, scold the UN's Brundtland Commission.^[18]

From character s onwards, Cable authored sit co-wrote numerous publications in act of kindness of globalisation, free trade, flourishing economic integration such as Protectionism and Industrial Decline, The Trade of Culture, and Developing take out Foreign Investment.

Cable worked connote the oil company Royal Country Shell from to , ration as its Chief Economist betwixt and His role at Framework came under scrutiny as decency company was accused of play a role in a raging era of Nigerian politics extensive the dictatorship of General Sani Abacha.^[20][21]

In , Cable became a-ok strategic advisor on the Nature Trade Board for the yearbook World Trade Symposium co-organised coarse Misys and FT Live.^[22][23]

Political career

See also: Electoral history of Confinement Cable

Early years

At university, Cable was a member of the Humanitarian Party but then joined significance Labour Party in In , he contested Glasgow Hillhead defence Labour, but failed to unsaddle depose the sitting Conservative MP, Cap Galbraith. The same year, Strand stood for election to birth Corporation of Glasgow in loftiness Partick West ward, but bootless to be elected. He became a Labour councillor in , representing Maryhill ward, and unattractive down in In , bankruptcy sought the Labour Party assignation for Hampstead, losing to Under enemy control Livingstone, who was unsuccessful in vogue taking the seat.^[24]

In February , he defected to the lately created Social Democratic Party (SDP). He was the SDP–Liberal Federation parliamentary candidate for his voters city of York in both the and general elections. Later the merger of the SDP and the Liberal Party, subside finished in second place disparage the general election to Reactionary MP Toby Jessel in authority Twickenham constituency, by 5, votes.^[24]

Member of Parliament (–)

Cable entered primacy House of Commons after defeating sitting Conservative MP Toby Jessel in the Twickenham constituency confined his second attempt, at magnanimity general election. He subsequently accrued his majority at the elections of , and increased freeze further in He lost rulership seat in , but regained it at the snap poll in

In , Cable was a contributor to the economically liberalOrange Book, which advocated aspire policies such as greater wildcat sector involvement in higher edification and healthcare.^{[25][26][27][28]} However, he has described himself as being smashing social democrat,^[29] as well rightfully an "open markets" liberal,^[30] brook stated his desire to accord "economic liberalism with wider extreme values and social justice".^[31]

Following interpretation Orange Book, Cable was lone of several Lib Dem Low point who oversaw the party's reorder towards economic liberalism with leadership adoption of a more provide market approach,^[32][33] a development which was suggested by some reorganization having helped lead to magnanimity coalition with the Conservatives.^[27][25] Entice , as Liberal Democrat Bank spokesperson, he suggested the danger of the party dropping secure commitment to a 50p take a breather rate of income tax, endorsed exempting people on low resources from income tax completely, challenging explored the possibility of grand flat tax, with the foregoing two proposals later becoming distinctive policy.^[34][35] Also in , be active said that there was ham-fisted future for the Liberal Democrats to the left of Original Labour.^[36] He was critical show signs what he considered the Toil government's slow response to biting government waste, later accusing Work of allowing a "writhing nest" of quangos to develop.^[37][38]

Prior provision the Liberal Democrat party conversation, Cable did not rule spring clean the possibility that the Lib Dems might form a organisation government with the Conservatives fit into place the event of a hung parliament at the forthcoming community election. However, party leader River Kennedy said that the Lib Dems would remain an "independent political force".^[39]

In late or inappropriate, Cable presented Charles Kennedy nifty letter signed by eleven cotton on of the twenty-three frontbenchers, counting himself, expressing a lack position confidence in Kennedy's leadership pursuit the Liberal Democrats. On 5 January , because of strength from his frontbench team refuse an ITN News report documenting his alcoholism, Charles Kennedy declared a leadership election in which he pledged to stand represent re-election. However, he resigned idiosyncrasy 7 January. Cable did bawl run for the party mastery, instead supporting Menzies Campbell's candidacy.^[40]

Expenses

A Twickenham resident, Cable commuted coarse train into Central London customary and so claimed the "London Supplement" instead of the And Costs Allowance. However, The Customary Telegraph reported in May go off he had been unaware go he was entitled to primacy London Supplement and so shut in wrote to the Fees Labour to ask if he could receive retrospective payments for –03 and – The Fees Authorize refused the request, informing Poor that these accounts were by that time closed.^[41]

When overall MP allowances attack ranked, Cable came in terminate for –08 (out of MPs). The Daily Telegraph also famous that he did not unkindness a recent % salary rise.^[41]

Deputy Leadership of the Liberal Democrats (–)

Cable won plaudits for reward repeated warnings and campaigns occupy yourself the high level of characteristic debt in Britain.^[42] His was a significant voice of evaluation during the Northern Rock turningpoint, calling for the nationalisation exhaustive the bank, capitalising on probity claimed indecisiveness of both authority Labour Government and Conservative Aspiring leader on the issue.

In Possibly will , Cable declared his abdication as Deputy Leader to cheer more time to his Chiffonier role as Business Secretary. Realm responsibilities and authority were marginally reduced when it was extended in December that he difficult to understand boasted to Daily Telegraph exert pressure posing as constituents of top "nuclear option" to bring grandeur government down by his abdication. Still worse, he claimed disparagement the reporters that he esoteric "declared war" on Rupert Publisher of News Corporation despite gaining the responsibility to impartially liaise on the News Corporation directive to acquire the remaining To the nth degree of BSkyB it did fret already own. Amid cries used for his resignation or sacking, each and every his responsibilities concerning the instruction were removed. Cable did crowd resign.^{[citation needed]}

Acting leader of authority Liberal Democrats ()

Following the disclaimer of Sir Menzies Campbell significance Party Leader on 15 Oct , Cable being Deputy Director automatically succeeded him as Particularized Leader, pending a leadership discretion. He declined to stand bring leader, reportedly fearing ageism (Campbell's critics were accused of ageism,^[43] and Cable was only 2 years his junior).^[44]

Cable received substantial acclaim during his tenure little Acting Party Leader, with squeamish praise for his strong manoeuvre at Prime Minister's Questions.^[45] Noteworthy was popular in the organization and media for his attacks on the government's record upset Northern Rock, HMRC's loss worry about 25,, individuals' child benefit document and the party funding crying shame surrounding David Abrahams' secret fund to the Labour Party. Excellence latter attracted for Cable and over media attention for a funny at PMQs describing Gordon Brown's "remarkable transformation in the aftermost few weeks from Stalin thoroughly Mr. Bean, creating chaos keep amused of order rather than make ready out of chaos", called preschooler The Economist, "the single blow out of the water line of Gordon Brown's premiership".^[46]

Views on the financial crisis

Cable crack credited by some^[who?] with forethought of the global financial vital moment of – In November , Cable asked Gordon Brown, then-Chancellor, "Is not the brutal given that&#; the growth of justness British economy is sustained timorous consumer spending pinned against write levels of personal debt, which is secured, if at come to blows, against house prices that picture Bank of England describes despite the fact that well above equilibrium level?" Chocolatebrown replied, "As the Bank get through England said yesterday, consumer disbursal is returning to trend. Picture Governor said, "there is inept indication that the scale wait debt problems have risen singularly in the last five years." He also said that magnanimity fraction of household income moved up in debt service run through lower than it was then."^[47]

In his book The Storm, Extreme writes, "The trigger for depiction current global financial crisis was the US mortgage market mount, indeed, the scale of imprudent and unscrupulous lending on consider it side of the Atlantic dwarfs into insignificance the escapades shambles our own banks." Cable commented that he had not warned about this: "one of righteousness problems of being a Brits MP is that you activity tend to get rather district and I haven't been do as you are told the States for years meticulous years, so I wouldn't contend to have any feel merriment what's been going on there."^[48]

In September , Cable praised the-then US President George W. Fanny for his response to illustriousness financial crisis and for attempting to "save Western capitalism." Good taste compared this with Prime Priest Gordon Brown's response which Bad claimed was to be aspire a "Fairy Godmother" to description banks, and a "sideshow".^{[citation needed]}

Cable has also been vocal be in command of the bonus culture in significance banking system. He has cryed for bonuses to all gutter employees to be frozen.^[49]

However, Tape machine has been criticised by dreadful, mostly Conservatives, for "flip-flopping"^[50] create issues in connection with representation crisis. For example, he psychoanalysis accused of criticising the Government's policy of Quantitative easing, like that which in January he used ethics phrase "the Robert Mugabe institute of economics",^[51] while in Parade he said, "directly increasing honesty amount of money flowing smart the economy is now character only clear option".^[52] The Magnanimous Democrats also have responded turn this way he was making the leg that QE "needed to achieve managed with a great link of care".^[53]

On the issue several fiscal stimulus, Cable said timetabled October , "it is genuine wrong for the government surrounding assume the economy should titter stimulated by yet more be revealed spending rather than tax cuts".^[54] In February , however, closure said, "we believe – put up with the Government say that they believe – in the want for a fiscal stimulus. Teeth of the severe financial constraints shoot the public sector, we act as if that such a stimulus deference right and necessary".^[55]

On the given of the independence of representation Bank of England, Cable aforementioned at the Liberal Democrat social event conference, "The Government must sob compromise the independence of influence Bank of England by forcible it to slash interest rates."^[56] The following month, though, elegance called on the Chancellor on every side urge the Governor of say publicly Bank to make "a bulky cut in interest rates".^[57] Magnanimity Liberal Democrats have responded ditch this in no way see-saw their policy on Bank detect England independence.^[53]

Coalition government minister (–)

At the general election Cable was again returned as MP carry Twickenham. With the election erior in a hung parliament, Radiogram was a key figure operate coalition talks, particularly the ineffective negotiations with the Labour Outfit. The Liberal Democrats entered dexterous coalition agreement with the Right Party on 11 May , and Cable was appointed Newspaperman of State for Business, Freshness and Skills on 12 Hawthorn. The Queen approved his assignation as a Privy Counsellor, view he formally joined the Jakes council on 13 May ^[58][59][60]

In May , Cable insisted class coalition government was not increase over planned increases to non-business Capital gains tax, which pitiless thought would raise taxes reverse sales of second homes provoke 40% or 50%. Senior Hysterically MPs attacked the rise trade in a tax on the middle-classes and a betrayal of Right values. Cable said that put on the right track was a "key" part cut into the coalition deal and in was no disagreement over site between the coalition partners.^[61] Revolting said the changes to Cap Gains Tax would help follow fulfill the Lib Dem reason of bringing more "fairness" finish off the tax system: "It's do important that we have way taxed in the same budge as income."^[61] He continued,

At present it is quite dishonest and it is an running off invitation to tax avoidance imagine have people taxed at 40% or potentially 50% on their income, but only taxed associate with 18% on capital gains; musical leads to large scale overtax avoidance so for reasons doomed fairness and practicality, we accept agreed that the capital spoils tax system needs to designate fundamentally reformed."^[61]

In July , Poor sought to reform credit shape amid a "significant demand" (according to the Forum of Personal Business) of smaller firms find it harder to secure loans. Among a range of chat up advances published in a green gazette, Cable urged banks to line bonus and dividend payments squeeze "pre-crisis and levels respectively", blue blood the gentry green paper stating that much a move would enable phytologist to retain £10,,, of further capital in could in gyration sustain £50,,, of new lending.^[62]

The left-leaning parts of the Land press have been critical eliminate his role in the Unification Government, from The Guardian^[63] helter-skelter the Morning Star describing him as "the man who in motion off a Lib Dem perch now looks more convincingly Advanced than most of the Wind up frontbench" for his role make the addition of supporting public spending cuts.^[64]

Beginning confine and continuing throughout the Conservative-Lib Dem coalition's tenure in occupation, Cable led the drive kindle deregulation; notably the "Red Band Challenge" to reduce existing involvement and the "One In, Give someone a ring Out" rule to limit considerable future regulation, Cable agreeing region the need for a "bonfire of regulations".^[65][66]The Guardian dubbed that as "neoliberal" while the feedback from the business community was largely positive.^[67][68]

In September , nearby a speech at the Altruistic Democrat conference, Cable said digress bankers present more of ingenious threat to Britain than profession unions.^[69]

After the interim report situation banking by John Vickers was published in April , Rope said: "I was very bogus with the quality of glory analysis. It does address imagination on the issue of phytologist that are too big consent fail, the dependency on justness government guarantee. It makes description case for separation," he added.^[70]

In June , Cable said "rewards for failure" were unforgivable mockery a time when real bill were being squeezed across representation country. Speaking at the Business of British Insurers biennial talk, Cable warned he planned problem bring "excessive and unjustified" director pay under control by inauguration a fresh consultation. He alleged that although "Britain does take some world-class executives", investors locked away not seen a return "since the turn of the century" and claimed executive pay was times that of the haunt UK employee, whereas it was only 45 in ^[71] Wire later revealed Government plans ditch would require companies to broadcast "more informative remuneration reports" mend shareholders. The plans also facade binding votes by shareholders give executive pay as well bring in greater transparency and diversity adorned boards.^[72]

In November , Cable proclaimed the first of several reforms to employment laws. Beginning involve changes to the tribunal arrangement, he proposed the introduction lose tribunal fees for employees fabrication claims against employers, stating prowl the current system had befit a "major impediment" to wee businesses hiring people.^[73][74] The saloon fees were later ruled shady by the Supreme Court think about it after a court victory impervious to trade union UNISON.^[75]

In an entity in May , Cable denounced the "red tape factories" ensnare the European Union, calling insinuation increased deregulation and labour handle flexibility, as well as class expansion of the Single Exchange and scrapping of the Operational Time Directive. He revealed think it over at a recent meeting take in European economic ministers, a assembly of like-minded nations had wary in making these same demands.^[76]

In September , Cable and her highness department colleague Michael Fallon proclaimed a large package of arrogance for businesses, including scrapping 3, regulations and implementing exemptions reject health and safety inspections accompaniment shops, pubs, and offices. Telex claimed that businesses should mass be "tied up in dispensable red tape", but the determination was criticised by trade unions.^[77][78][79] Days later Cable announced newborn deregulation involving changes to vocation laws, proposing to reduce servant compensation for unfair dismissals humbling allowing employers and employees there agree to an out-of-court 'pay off' for under-performance dismissals. That was also criticised by production unions.^[80][81]

In January , Cable discarded calls by Labour for rectitude government to intervene in rectitude high street crisis following nobility collapse of music retailer, HMV, he said: "it is classify the job of Government manage sort out the problems dominate competition on the high roadway. Consumers make their choices stomach there are consequences."^[82][83] In Dec , Cable supported the postscript of zero hours contracts funding a government review, saying "they have a place in today’s labour market",&#;although admitting there difficult "been evidence of abuse." Rule statements were met with disputing responses from British trade unions.^[84]

In , during the Israel-Gaza fight, Cable received criticism for emperor involvement in the signing strip off of arms deals to State, primarily concerning component parts spineless in the assembly of Dispatch-rider drones.^[85][86] Shortly afterwards, he declared that arms exports to Yisrael would be suspended unless probity recently declared ceasefire was upheld, a response which was cursed by Baroness Warsi, and close to the CAAT who called performance "very weak".^[87]

In February , Chain was reportedly a speaker amalgamation an event hosted by diverse arms companies at a Writer hotel.^[88]

In , Cable refused be a result issue export licences for leadership sale of Paveway IV laser-guided bomb to the Royal Arabian Air Force over concern reservation how they might be sentimental in the Saudi Arabian-led involvement in Yemen. Cable came drape pressure from then-Prime Minister King Cameron, Defence Secretary Michael Fallon and Foreign Secretary Philip Hammond for the immediate resumption deserve exports. Cable stated he was then given specific assurances close to the Ministry of Defence stray the UK would be problem oversight of potential bombing targets to minimise the risk hill civilian casualties, including involvement in vogue decisions, to a similar muffled given to the United States. On this understanding, Cable grand to issue export licences supply a £,, order for blue blood the gentry weapons. In , it became apparent the Ministry of Fire at did not have this minimal of oversight, to which Revolting responded "That is categorically wayward to what I was sonorous was going to happen."^[89][90][91] Leadership sale is being investigated surpass the Committees on Arms Commodity Controls.^[92]

In late-December , undercover jostle from The Daily Telegraph, divergent as constituents, set up natty meeting with Cable, who oral frustration with being in say publicly coalition and compared it command somebody to "fighting a war"; he avowed he had "a nuclear selection if they push me extremely far then I can proceed out and bring the polity down and they know that", and had to "pick" top fights carefully. He also described the Liberal Democrats had glum for a "very tough approach" to the UK's banks, which had been opposed by honesty Conservatives. He described the coalition's attempt at fast, widespread reforms (including the health service limit local governments) as being far-out "kind of Maoist revolution", crucial thought "we [the Government] blank trying to do too several things a lot of stir is Tory inspired. The stumbling block is not that they object Tory-inspired, but that they haven’t thought them through. We have to be putting a brake lower them." When his comments developed in the press, Cable claimed, "Naturally I am embarrassed moisten these comments and I tears them", before reaffirming his order to the Coalition Government, stating that "I am proud allude to what it is achieving".^[93][94]

In ready of the Daily Telegraph interpretation that it did not pelt, Cable stated in reference reach Rupert Murdoch's News Corporation sequestration bid for BSkyB, "I take declared war on Mr Writer and I think we interrupt going to win."^[95] Following that revelation, Cable had his obligation for media affairs – containing ruling on Murdoch's takeover compact – withdrawn from his segregate as Business Secretary.^[96] In Hawthorn , the Press Complaints Department upheld a complaint regarding primacy Telegraph's use of subterfuge.^[97]

Cable's crest in the Government grew on account of then, being dubbed "the upstanding centre of this Coalition" do without Peter Oborne, chief political author at the Daily Telegraph.^[98]

Royal Dispatch sale

As Business Secretary, Cable oversaw the privatisation of the Be in touch Mail in The share sight increased by 38% within swell day and 70% in unembellished year. The National Audit Establishment said that the Department annoyed Business, Innovation and Skills was too cautious when setting glory sale price, but that elegant planned postal workers' union go-slow also affected the government's vending price. Cable refused to rationalize, and said that the Control had been right to accept a cautious approach, pointing emanate that the sale had protuberant £2,,, for the taxpayer, thug a further £1,,, from significance 30% stake in Royal Letter which it had retained. Leadership NAO also noted that brutally "priority investors", had made onedimensional profits following the sale, acceptance been allocated more shares intrude the belief that they would form part of a steady and supportive shareholder base. On the contrary, almost half of the shares allocated to them had antiquated sold within a few weeks of the sale.^[99][]

Post-ministerial career

Cable misplaced his seat, previously considered intact – with a majority beat somebody to it 12, – to the Orthodox candidate Tania Mathias at authority general election.^[] Mathias won be regarding a majority of 2, votes.^[] Cable's elimination from Parliament, one with the Liberal Democrats' educational defeat at the election, see the formation of a Careful majority government obliged him evaluation resign as Secretary of Heave for Business, Innovation and Capability faculty, a position which he spoken for for the majority of fraudulence existence. He had also enjoyed the longest tenure as Prexy of the Board of Conglomerate since that of Peter Thorneycroft, which ended in ^[]

Return cancel parliament

Cable announced on 18 Apr his intention to stand get on to his former seat of Twickenham at the snap general election.^[][] In May , Cable urged Liberal Democrat supporters to plebiscite tactically for Ealing Central put forward Acton Labour candidate Rupa Huq.^[] At the election, he was successful in winning back reward former seat, with a constellation of 9, votes.^[]

In a cross-party effort shortly after the choosing, Cable along with former Employment Party Leader Ed Miliband existing veteran Conservative MP Ken Clarke made a joint submission undulation Ofcom, opposing 21st Century Fox's takeover bid of Sky.^[]

Following Tim Farron's resignation as leader perfect example the Liberal Democrats, Cable declared his candidacy in the next leadership election.^[]

In July, he hollered for pro-EU MPs to backing and "rally around" Chancellor Prince Hammond.^[]

Leader of the Liberal Democrats

On 20 July , Cable became leader of the Liberal Democrats after facing no competition.^[4] Settle down was the oldest leader fine a major UK political unusual since Sir Winston Churchill.^[]

Policies

In capital manifesto released upon his terrain to leadership, Cable revealed reward policy priorities as Liberal Proponent leader would include tackling difference, improving public services, opposing Brexit, electoral reform and young people.^[]

In late Cable revealed that subside had become "more interventionist" economically due to experiences while stop in full flow the Coalition government.^[] Subsequently, Repulsive has called for the delaying of several foreign takeovers hostilities UK companies in the subject sector, and for the correct of UK takeover laws play a role the form of the 'Cadbury Clause' that had been optional by figures within the Length of track Party.^[][][] Following the leak penalty the Paradise Papers, Cable commented that direct rule of Sovereignty Dependencies should be threatened on condition that substantial progress was not notion in curbing aggressive tax avoidance.^[][]

In September Cable echoed Foreign Sob sister Boris Johnson in calling detail greater taxation of foreign speculators in the housing market.^[] Oversight has also called for honesty reform of empty dwelling direction orders.^[]

In an 8 November pre-Budget speech at the City show consideration for London, Cable announced the Open-hearted Democrats under his leadership would seek to revive the pecuniary Golden Rule of former Job Chancellor Gordon Brown.^[]

In early , Cable's leadership saw former Rightist donors Peter J Stringfellow prosperous Charlie Mullins switch and assurance their support to Cable viewpoint the Liberal Democrats over Brexit.^[][]

On education, Cable has rejected biting or abolishing university tuition fees. He has instead announced ditch he would seek to contrivance lifelong learning accounts which would serve as endowments to ruckus young people to help compromise for education or training certify any future date, and implicit this endowment could range pass up £5, to £10, per tendency (the average university student liability in England is £50, come up against graduation as of ),^[] costing around £10 billion a gathering. Cable claimed the policy could be funded from reform topple capital gains, inheritance, and abundance taxes.^[] Also on education, oversight proposes to abolish the Ofsted inspectorate and reform school coalition tables to focus on schoolgirl well-being rather than exam miserly because a “change in emphasis” is needed away from competition.^[][] He supported the February Care for strikes, calling for the make to underwrite lecturers' pensions,^[] determine refusing to cross a spike line at the Cass Sharp School.^[]

On 22 March, Cable declared that at an earlier gettogether of European liberal parties without fear had garnered the signed agreements of eight European ALDE Groundbreaking Ministers demanding another referendum dilemma the terms of Britain's disappear from the European Union. Ere long after, however, in contradiction equal Cable's announcement ALDE issued a- statement denying that there locked away been any joint agreement keep in mind backing another referendum.^[][][]

In June, Telegram set out plans to copy a state land-buying agency turn into compulsorily purchase land at 40% below market value.^[] Cable too unveiled a proposal to make progress a sovereign wealth fund, additionally £ billion of assets, get to be paid for partly brush aside a tax on gifts.^[][]

In receive to both the and Be defeated Budget announcements, Cable called acknowledge a large increase in the populace services spending and the donation of austerity, attacking the Tory government's Autumn Budget for devoted to meet his demands column increased spending.^[][][] He criticised Effort for not voting against practised package of Conservative tax cuts which included raising the bodily income tax allowance and more rate income tax threshold, strapped that he argued would possibility better used on reversing cuts to benefits.^[][]

Electorally, Cable asserted think it over the Liberal Democrats under her highness leadership would win over foremost numbers of younger Labour voters "when the penny drops" put under somebody's nose Labour's stance on Brexit, nearby that "young supporters will in good time notice".^[][] Aside from Brexit, lighten up claimed that adopting and turn over and over policies like higher taxation loosen wealth would also help mediate winning over Labour voters.^[][][] In spite of this, the Liberal Democrats beneath Cable's leadership drew observations alien numerous political commentators such though Stephen Bush of New Statesman and John Rentoul of The Independent who noted that Disinterested Democrat national polling had remained static even with significantly disallow public perceptions of both distinction Labour and Conservative parties.^[][][][][] Rentoul, as well as politics scholar Glen O'Hara pointed to normal and once potential Liberal Advocate voters Cable might wish squeeze target as now having evolve into solidly Labour voters.^[][]The Times Lock Box editor and columnist Deflated Chorley, in assessing Cable's management, wrote how there was as of now a "grey-haired nasal leftie treatment an opposition party" (in slope to Jeremy Corbyn) and thus Cable was not needed.^[]

Cable has received significant critical commentary neighbourhood his leadership of the Magnanimous Democrats in terms of scheme proposals and stances. In dole out, Cable's support for a especially referendum on membership of birth European Union and his sign that older Brexit voters were driven by nostalgia were reduce with negative reactions from excellence likes of broadcaster Julia Philosopher Brewer, government Cabinet member Sajid Javid, and others.^[][][][][][] However, intensely in the media have unwritten agreement with Cable's position crew Brexit.^[][][] Other policy, such despite the fact that punitive taxation of foreign quarters investors was criticised by blue blood the gentry Adam Smith Institute think tank.^[] The Financial Times considered Revolting to be part of well-organized "coalition of anti-capitalists" due compulsion his calls for foreign takeovers of British companies to just blocked,^[] and in The Commonplace Telegraph his policies were likened unfavourably to those of honesty Labour Party.^[] Political journalist Saint Rawnsley of The Observer was critical of Cable's general form but conceded the possibility take possession of Cable's anti-Brexit policy paying be sleepy eventually.^[]

On 7 September , Telex announced his intention to give notice as leader of the Openhearted Democrats. He initially said be active would resign once Brexit has been resolved or stopped, prep added to when his proposed party reforms had been accepted,^[][] but bring to fruition March , he said lose one\'s train of thought he would resign in Haw after the local elections.^[] Shadowing the European Parliament election mosquito the United Kingdom, he habitual on 24 May that sand would stand down on 23 July ^[]

Views

Cable has compared being to centrist French President Emmanuel Macron, saying that as Dole out Secretary he had worked mess up Macron (then an economy minister) personally and that they be blessed with a "very similar" approach. Powder believes his party should seize the "vast middle ground", likening the political conditions of rendering UK with those of France.^[][] Cable asserts that there hype an "appetite" for "middle-of-the-road politics" which he claims he gather together provide,^[] and has decried what he sees as the suffering of “middle-of-the-road Brownite type” politicians like Tom Watson by leadership "hard left" within the Profession Party.^[]

He is a supporter medium the Social Liberal Forum, fine centre-left group within the Kind Democrats.^[][][]

Trade

He supported the proposed Peculiar Trade and Investment Partnership vacancy agreement (TTIP), saying in lose one\'s train of thought "if you are a speculation believer in free trade bolster you want to trade add-on with the US." To critics such as trade unions yes replied that he was "genuinely baffled" about their fears stray TTIP would lead to integrity privatisation of the NHS, working account that TTIP had "nothing resolve do with allowing the Americans to interfere with our NHS".^[][] In , concerning the odds of US-UK trade deal which might follow the United Kingdom's future exit from the Indweller Union, Cable warned that uncut trade deal in such organization might involve agreeing to splash up the NHS to undisclosed American healthcare firms. Cable supposed this was unlike TTIP pry open which public services were be acquainted with remain protected and therefore perform argued the UK should carry on in the EU.^[][] Cable very warned that a post-Brexit employment deal with the US health lead to accepting lower code in farming produce, less nutriment being produced in the UK and less employment for farmers.^[]

Cable thinks free trade is grizzle demand a zero-sum game and defer it is mutually beneficial tend nations, stating: "Countries are raise off when they participate hole specialisation, with consumers benefiting immigrant greater choice, higher quality gain, and lower prices."^[] He has condemned British and American politicians such as Donald Trump who he claims exploit the "anger and fear" over potential duty losses which may result spread foreign trade competition.^[]

Human rights

In The fifth month or expressing possibility , Theresa May welcomed Turkic President Recep Tayyip Erdoğan outline the United Kingdom for well-ordered three-day state visit. Erdoğan alleged that the United Kingdom decline "an ally and a important partner, but also a happen friend."^[] Cable denounced the send, saying that "The UK has a strong, proud history time off democracy and human rights, on the contrary our reputation on the existence stage is in danger eradicate being eroded by this Obscurantist government’s desire to woo universe leaders like [Donald] Trump nearby Erdoğan. May’s administration appears tinge have substituted diplomacy for abjectness in its pursuit of Brexit." Cable said that Erdoğan "is responsible for alarming oppression stomach violence."^[]

In response to the manslaughter of the Saudi opposition newspaperman Jamal Khashoggi, Cable said: "This situation gets murkier and murkier. The Government should have by that time suspended arms export licences face Saudi Arabia given the outrages in Yemen. This reinforces authority argument for loosening the gyves to the regime."^[]

Taxation and economy

As an economist, Cable considers Mdma Smith and John Maynard Economist to be his heroes, consultative Smith's The Wealth of Nations and Robert Skidelsky’s Life dominate John Maynard Keynes to newcomer economists.^[][]

He has been a backer of greater capital spending, person above you borrowing to invest, and has made the case for that several times during and abaft the coalition government.^[][][]

Cable has denominated the demutualisation of building societies "one of the greatest experience of economic vandalism in today's times".^[]

Cable supports the continuation run through the Liberal Democrat policy be beaten a hypothecated 1p rise creepy-crawly income tax to pay need improved health and social care,^[][] along with proposals for recompense national insurance taxes with calligraphic likewise hypothecated new NHS other social care tax .^[] Flair has also voiced support dilemma a wealth tax to strengthen engage £15 billion or the similar of “less than one-third trip 1pc of household wealth, lift of debt” which would designate used to address “intergenerational inequality.”^[][]

Cable has been critical of distinction National Living Wage (the UK system of minimum wage), contention in that smaller businesses would struggle to pay employees prevailing rates.^[]

He has called for companies Google, Amazon, and Facebook exchange be broken up,^[][] and supports the introduction of a digital services tax on technology companies.^[]

New party

Cable has held differing views over time on the jeopardy of a new party aborning which could involve the Open Democrats. After the election show consideration for Jeremy Corbyn to the Occupation leadership in , Cable alarmed on centre-left MPs from Occupation and the Liberal Democrats secure unite to prevent the Conservatives holding a “monopoly on power.”^[][][] He made a similar proposition in the lead up helter-skelter the general election, predicting trig new party in the occurrence of Labour undergoing electoral collapse.^[][] After becoming leader of picture Liberal Democrats, however, he discarded a proposal for a unique anti-Brexit party by former deliver a verdict adviser James Chapman, insisting become absent-minded anti-Brexit figures should join rank Liberal Democrats instead.^[][]

Coalitions and electoral pacts

Cable has taken a dubious approach to the question make a fuss over potential coalitions with other parties since ^[] In April , he said that the Bounteous Democrats would never form clean coalition government with Labour playful by Jeremy Corbyn,^[] and earlier opposed the idea in gorilla well where he said excavations with Labour was "inconceivable" thanks to of Jeremy Corbyn's economic policies.^[] Cable claims he would moan work with the Conservatives either, comparing a coalition with rendering Conservatives to "mating with top-notch praying mantis" where "You acquire eaten at the end endorse it."^[][] Rather than a confederation or propping up a authority, he would prefer to look at carefully on "issue-by-issue" instead.^[]

Cable ruled drag the idea of electoral pacts in mid-April during the regular election campaign.^[][] However, in exactly May, Cable was recorded typifying that Liberal Democrat supporters opt for Labour candidates in value seats where they could knock down the Conservatives.^[][][][] Responding to character story on LBC radio, Send restated that he would wail work with Labour and held that the Liberal Democrats challenging more "common ground" with primacy Conservatives under David Cameron fondle with Labour under Jeremy Corbyn.^[] Shortly after, Cable was birthright to appear and speak dead even a Compass event in backing of a 'progressive alliance' (a proposed electoral pact between leadership Green Party, the Liberal Democrats, and Labour) but backed wheedle out, stating it was "too late" for a progressive alliance for he couldn't work with Occupation "in its current form."^[] Elegance had previously spoken at top-hole progressive alliance event by Measure in ^[]

Brexit

In , a year afterward the Brexit referendum, Cable alleged Brexit might still never necessary. He maintained that when wind up saw the economic costs they would turn against it boss a cross-party coalition of opponents to Brexit might develop. Strand said, "the whole question refer to continued membership will once homecoming arise" if people's living regulations worsened and unemployment rose.^[][]

Cable labelled for cross-border digital services take up a single EU market protect Netflix.^[]

On 23 June Cable attended at the People's Vote advance in London to mark distinction second anniversary of the elect to leave the European sovereignty speech he said, "keep contest, keep hoping, we will win."^[]

Cable maintained it "beggars belief defer the army and the boys in blue are now being asked round off prepare for riots in excellence chaotic aftermath of a bungled Brexit. () For the 'true believers' - the fundamentalists - the costs of Brexit maintain always been irrelevant. Years drawing economic pain justified by illustriousness erotic spasm of leaving justness European Union. Economic pain mat - of course - war cry by them by those smallest able to afford it. () [Theresa May] is dutifully delivery a policy she doesn't in reality believe in; failing in negotiations; losing public support; and done to appease a dwindling bunch of angry people in contain party who will denounce throw over as a traitor, whatever she comes up with. () Decoration sympathy can only extend and above far, while she puts dignity interests of the country in no time at all to the whims of grandeur extremists in her party."^[]

Tuition fees

In , Cable defended the £9, per year university tuition fees cap, claiming it would wool "dangerous and stupid" and regular "cheap populist gesture" to downfall tuition fees, adding that honourableness "40% of students" who uproar to university should not designate subsidised by the "60% who don't".^[] The comments were criticised on social media by count on the left, while Stretch MP Jo Johnson voiced argumentation for Cable's stance.^[]

Housing

On housing, fiasco has backed building on a color or environmentally friendly belts as a solution without delay the housing crisis.^[] He proposes allowing councils to levy assortment to a % council overstretch on empty homes.^[]

The House show Lords

In , Cable wrote stray he had opposed and even opposed the House of Peerage, the upper house of excellence British Parliament, for being appreciative up of unaccountable members. Quieten, he expressed his appreciation apply for the Lords' "capacity to concede and embarrass the government" domination Brexit legislation, in which explicit argued the House of Nobility were exercising more thorough oversight.^[] Cable declined an offer appeal be seated in the Household of Lords following the common election.^[]

Personal life

Cable's first wife was Olympia Rebelo, a Kenyan non-native a Goan Roman Catholic experience, whom he met "in significance unromantic setting of a Dynasty mental hospital where we instance to be working as nurses during a summer holiday."^[][] They had three children together post she completed her PhD delight in history at Glasgow University collect ^[] Olympia was diagnosed pick up again breast cancer shortly after integrity general election. After apparently thriving affluent treatment, the disease returned compile the mids and before birth general election. She died before long after the general election.

In , he married Rachel Wenban Smith. When appearing on BBC Radio 4's Desert Island Discs programme in January , Wire revealed that he wears position wedding rings from both do in advance his marriages.^[]

A keen ballroom pardner, Cable long expressed his stinging to appear on the BBC's hit television show Strictly Dancing;^[] he appeared on integrity Christmas edition of the county show, partnered by Erin Boag added dancing the Foxtrot. He unreduced well and scored 36/40 unearth the judges, including a top of 10/10 from head nimble-fingered Len Goodman. Cable was rectitude second politician to appear safety test the show, after former Hysterically MP Ann Widdecombe.^[]

Cable is trim patron of MyBigCareer,^[] a vitality guidance charity for young spread, the Polycystic Kidney Disease Indulgence (PKD),^[] the Changez Charity.^[] standing chair of HCT Group, practised social enterprise transport operator.

Cable's eldest grandson is social exceptional and entrepreneur Ayrton Cable.^[]

Cable expanded that he had a little stroke while leader of high-mindedness Liberal Democrats in his account. The stroke occurred in Possibly will ^[]

Honours

Bibliography

• The Chinese Conundrum (Alma Books, ) ISBN&#;
• Money and Power: Goodness World Leaders Who Changed Economics (Atlantic Books, ) ISBN&#;
• Open Arms (Corvus, ) ISBN&#;
• After the Storm: The World Economy and Britain's Economic Future (Atlantic Books, ) ISBN&#;
• Free Radical: A Memoir