Sir Vince Cable on the EU, steel and Liberal Democrat resurgence.

2nd April 2016
Vince Cable - "Lib Dems - We have a One Party State - We have a Duty to promote ourselves"
Vince Cable, rallying assembled Lib Dems, 2nd April, a...t WM Lib Dem Spring Conference, Newcastle Under Lyme, stated the Lib Dems had a 'duty' to provide a moderate alternative for the country as the Labour Party had 'gone to pieces'.
Now was the moment as the electorate were beginning to feel 'buyer's remorse' with the impact of a Tory government hitting them full-on.
"People have begun to see what a Tory government on its own looks like - the harshness and the incompetence.
"Time and again we have seen this with Tax Credits, Disability Payments, the Housing sector, Homeless charities which can scarcely cope with the rise in people sleeping on the streets and the increase in mental illness.
"Social housing is being destroyed as small associations are being forced to sell off their stock. House prices have been allowed to get out of control creating a 'Crisis of Affordability'."
The Lib Dems had overseen the introduction of many aspects of responsible capitalism, not simply 'letting the market rip' which was what we were currently witnessing in all its short-term devastation.
Giving credit to his fellow Lib Dem Ministers Vince Cable stated that the Lib Dems had enjoyed a strong track record whilst in government.
"Our Industrial Strategy meant we were able to deliver long term partnerships with business in the car industry, aerospace, pharmacy, chemicals, and the creative sector. We had a process for training, innovation, enabling funding access and delivering the re-birth of the Apprenticeship systems.
"We delivered two State Banks - British Business Bank and the Green Investment Bank delivering £10bn into wind, waste and energy efficient investments accelerating the move to a green economy.
"We delivered comprehensive reform of governance for companies and long-termism into the work of the Takeover Panel and Competition Authorities. The Industrial Strategy introduced long term thinking across a number of key sectors which of necessity work and invest to longer time scales. We introduced Flexible Working, Parental Strategy, promoting the rail revolution, doubling the number of female directors on FTSE boards, and promoting science and innovation.
"Whilst in government I received a text from Will Hutton, political economist and commentator, making reference to the German system of Fraunhofer as a role model for the UK. Shortly following this we came up with funding for a Catapult System which has turned out very well for UK Advanced Manufacturing, with most people in business understanding that we have a system comparable to the Germans.
"People are beginning to see what a Tory government on its own looks like. This undiluted Conservative government is creating chaos.
"What's the alternative?" he asked.
"Labour is unelectable. We still have a base in Local Government. Yes, we took a hammering in Birmingham. But in some parts of the country our base is still strong.
"We have a tradition of activism which people recognise and is a political asset. We have a strong story to promote out the debris.
"It is not just a question of our future. We're going to be needed as we have a One Party State at present.
"However appalling and incompetent the Tories are, they're there. We have a duty to promote ourselves.
"We are sleep walking into Brexit through the Referendum on the EU - a Tory PM promise to the Tory Party.
"Hedge Funds have a big interest in instability. However the EU is a practical example of collaboration, forging peace from conflict delivering sensible economic cooperation."
With the current Steel debacle there were lessons to be learnt from the past, he stressed.
"When I was Secretary of State and Ellesmere Port was threatened I went to Detroit to persuade management to stay in the UK. It was clear at that time that they agreed to stay in as we were part of the EU. Nissan and JLR have all invested in the UK on the same basis. Standardisation of Environmental, Energy, Safety standards across Europe were critical for many industries. Much of our tradeable economy is based on British membership of the EU.
"If we leave it's not as if there is some clear alternative.
"If we adopt the Norwegian model we are still in the Single Market and we still have unrestricted immigration.
"If we adopt the Canadian Model - the Leave alternative - then we still have tariffs to pay.
"The EU Referendum represents an enormous risk and the chance that we will sleep walk out of the EU at a time when we need, more than ever, cooperation over - Refugees, Terrorism, Environment."
On the crisis in the Steel industry at Port Talbot, Vince Cable recommended Sajid Javid to spend some time with Tory grandees such as Michael Heseltine stating:
"When we were in government we got agreement for High Energy Cost Compensation but Treasury dragged its feet and they need to sort this out.
"On the Chinese dumping government has a duty to intervene. But, whereas the government were claiming they weren't allowed to act against dumping they actually sabotaged the EU efforts to put up tariffs.
"I believe we need to improve the Balance Sheet of TATA by taking on the Pension Fund, that's what we did with Royal Mail."
He closed his words to assembled party loyalists by calling for government to invest.
"Government should be investing, borrowing to invest. It is insane that interest rates are virtually zero and that we are not. We could invest in railway and social housing but won't do it because of doctrinal beliefs about debt."
Lib Dems needed to take the fight to the country: not laissez faire, but 'laissez nous faire' our greater Liberal Democracy.