|
|
Richmond upon Thames Liberal Democrats:Covering the constituencies of Twickenham and Richmond Park |
Vince Cable’s Trade and industry dinner speech at the Mansion House
March 4, 2011 5:14 PM
• [Mar 03] Vince Cable: THANK you for the honour of inviting me to this important event. I recall my first political invitation to discuss the future of the City: a dozen years ago, as an unknown MP and a minor spokesman for a third party far removed from power, when I was sounding off about banks in the wake of the Cruikshank Report. I appreciated your courtesy then, as now, and also admired your capacity to finger potentially troublesome politicians at an early stage.
You will have noticed that I have moved on and for the last 9 months I have been busy in government. Indeed, my department has completed an extraordinarily challenging spending review: our contribution to deficit reduction. We have succeeded where our predecessors failed with a clear programme to stabilise and privatise the Royal Mail. We have put in place unprecedented higher education reforms. I could go on. However, our central task is the one I set out in my very first speech: to put growth at the centre of the government's work and growth to provide employment.
. . In my more wistful moments I do see the continued attractions of writing books explaining how we got into this situation rather than being in government trying to dig our way out of it. But what defines this government is a collective willingness to make difficult decisions in pursuit of a wider, long term, national interest. If I am less popular in some quarters than a year ago that is some sign that I am doing my job.
. . the absolutely central issue of bank structure is being actively considered by Sir John Vickers and the Banking Commission. The issue was summarised well by the Governor of the Bank of England the other day: "our role is not to stop banks failing; it is to make sure that if they fail they do not contaminate the rest of the economic and financial sector".
I should say that in supporting this agreement I chose to disregard the advice of commentators and supporters who told me not to touch the agreement with a barge pole. Nonetheless I believe it was right to try; that we shouldn't let the best be the enemy of the good; and that we have to take political risks in order to get the British economy moving.
That is the spirit with which the Coalition, and my party in particular, approach the formidable task of economic management that we have inherited. Our Growth Review exemplifies this approach, and will continue to for duration of this. Vigorous, targeted action where the government can make a difference; combined with robust and unsentimental withdrawal of Government from unnecessary interference. This is what you should hold me and my colleagues accountable for.
I would now like to propose a toast to the Lord Mayor and the Lady Mayoress.
What would you like to do next?
-
Subscribe for updates
Follow the party's activity on...
- Twitter:
- Liberal Democrats
- Facebook:
- Liberal Democrats
- YouTube:
- Liberal Democrats