Vince Cable sets out Coalition Government work programme at Cass
Thursday, 3 June, 2010
Vince Cable, Secretary of State of Business, Innovation and Skills, set out his work programme today at Cass in his first speech in government.
During the speech, Cable said he wanted to reduce the numbers of quangos, take a tougher line on banking regulation, and give higher education a sound footing for the future, including linking it to the economy.
He said: We do not expect to see viable businesses deprived of credit or working capital by banks that are largely owned by the taxpayer, or the general beneficiaries of wider public support.
The banks claim that there is no demand. That is not right. If the bar is set too high, of course no one is willing to jump. The current risk aversion by banks in the SME sector will stifle recovery and, if it does, will actually rebound on the banks through bad debt.
Cable also defended claims he is a socialist. He said: I am a liberal. I am a free trader. I believe in open markets. Anyone who doubts the clarity and consistency of my views should look up my writing on trade policy from the 70s, attacking protectionism."
To read the full speech please visit: http://www.bis.gov.uk/news
Vince Cable speaking at Cass