You are here: Home - Investing -

Cable: I would make a good Chancellor

Written by:
Business Secretary Vince Cable has thrown open a potential challenge to George Osborne's role as Chancellor of the Exchequer after claiming he would "make a good chancellor".
Cable: I would make a good Chancellor

Cable made the comments in an interview with the BBC, although he added he was “not pushing for the job”.

Pushed on whether he would make a good Chancellor, Cable reportedly said: “I probably would but George Osborne is doing the job, we are doing it together well as part of a team, and nobody’s suggesting we change the arrangements”.

It comes after his close ally Lord Oakeshott called for him to replace Osborne, who he described as a “work experience chancellor”.

Osborne is under fire after this week’s growth figure showed the UK economy is in its longest post-war recession.

The economy shrunk by 0.7% between April and June – and is the third quarter in a row that the economy has contracted.

Osborne said the government was “dealing with our debts at home and the debt crisis abroad”.

He also tried to shift the blame onto Europe, saying: “Given what is happening in the world, we need a relentless focus on the economy and recent announcements on infrastructure and lending show that is exactly what we are doing.”

However, his opponents are growing ever more vocal.

Lord Oakeshott told BBC News on Wednesday his fellow Lib Dem Cable should be put in charge at the Treasury.

He said: “George Osborne has got no business experience.

“He has never worked outside politics. He is doing surprisingly well for a Chancellor on work experience.

“But really in a torrid time like this I think we do need absolutely the best people available.”

In an interview with the BBC Two’s Newsnight programme, Cable said Lord Oakeshott was a “good friend” but he did not agree with him on the issue.

Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
British Gas comes under fire for ‘ripping off’ customers

British gas is being urged to cut prices after it revealed a 23% increase in year-on-year profits with operating profits...