Vince Cable

Vince Cable

Biography

Author Profession: British Politician
Born: May 09, 1943
Age: 73 years old
Birth Sign: Taurus

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Vince Cable quotes

The economy has become seriously unbalanced. Its growth has not been driven by investment or by overcoming Britain's long-standing weaknesses in investment and productivity, particularly skills. Instead, there has been a binge of debt-financed consumer spending.

I'm now happily remarried to a good cook, which encourages me to be lazy. I like to think that I'm a new man, but perhaps I'm not. I offset it by doing the ironing, though. She has a small farm in the New Forest with a herd of cattle, so she serves up a steak and kidney pie made with her own beef.

My late wife Olympia was Goan and I've been to India many times. I love the food there. We used to do our shopping in Southall, where you can find cheap but wonderful fruit like mangoes, vegetables and spices. I didn't do much of the cooking, as Olympia did a lot - I was the under-chef and did some of the chopping.

Investment banking has, in recent years, resembled a casino, and the massive scale of gambling losses has dragged down traditional business and retail lending activities as banks try to rebuild their balance sheets. This was one aspect of modern financial liberalisation that had dire consequences.

And humility in politics means accepting that one party doesn't have all the answers; recognising that working in partnership is progress not treachery.

There was, of course, a global financial crisis. But our Labour predecessors left Britain exceptionally vulnerable and damaged: more personal debt than any other major economy; a dangerously inflated property bubble; and a bloated banking sector behaving as masters, not the servants of the people.

I made friends with a boy who was a communist when I was 13 and that broadened my political views, but it also brought me into conflict with my father who was very Right-wing.

We have sectors of the economy, aerospace is a good example, where Britain's probably the second country in the world, the automobile sector, where we've done extraordinarily well, an enormous amount of investment over the last couple of years, life sciences is another.

When Gordon Brown becomes prime minister, the balance sheet that reflects his economic stewardship could look very sickly indeed. He could become Labour's biggest liability, not its most marketable asset.

I am a bit of a lefty on some issues.

Banks operate like a man who either wears his trousers round his chest, stifling breathing, as now, or round his ankles, exposing his assets. We want their trousers tied round their middle: steady lending growth; particularly to productive British business, especially small scale enterprise.

I think what is happening is I think first of all there is confidence in the U.K. economy. We're in a German rather than a Greek position in international financial markets, which is very positive and keeps our debt service costs down, and we're also beginning to see real evidence of rebalancing.

No, and in fact I get a bit frustrated, because I'm actually quite good at one-liners, and I've had hundreds of them over the years, and they sink without trace, and I get very frustrated. Every party conference I really work on the speeches, and I always have two or three things I'm quite proud of, and no one ever remembers them.

Billions of taxpayers' money has been wasted in bad deals. The London Underground modernisation, personally negotiated by one of Gordon Brown's team, was a disaster, as the National Audit Office has confirmed.

Small- and medium-sized businesses need access to a diverse range of finance options, including non-bank lending. These new forms of finance are still small in scale today but they should, over time, bring additional choice and greater competition to the lending market.

When my job was attempting to predict future economic developments for the Shell oil company, I was frequently reminded of an Arabic saying: 'Those who claim to foresee the future are lying, even if by chance they are later proved right.'

On banks, I make no apology for attacking spivs and gamblers who did more harm to the British economy than Bob Crow could achieve in his wildest Trotskyite fantasies, while paying themselves outrageous bonuses underwritten by the taxpayer. There is much public anger about banks and it is well deserved.

I don't feel comfortable with luxury, and I try to stay fairly normal.

I've always been comfortable working with women and I've had two happy marriages. Draw what conclusions you like from that.

Where there is flagrant abuse of corporate entities we must and will seek to tackle it.

The lecturer should give the audience full reason to believe that all his powers have been exerted for their pleasure and instruction. Michael Faraday quotes

You can live your life angry, bitter, mad at somebody or even guilty, not letting go of your own mistakes, but you won't receive the good things God has in store. Joel Osteen quotes

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