Liberal Democrat annual conference 2011: Vince Cable speech

Liberal Democrat annual conference 2011: Vince Cable speech; Vince Cable speech continued SOT That’s what I mean by a business recovery, cars not casinos. (applause) The work is just beginning. To turn Britain round we need much more. Three priorities: Stability, stimulus, solidarity. Stability in the government’s finances – the deficit problem – and in our banks. Stimulus to support growth; sustainable growth based on business investment, exports, green technology and manufacturing. Solidarity to give people a sense of a shared society, reducing our appalling inequalities of income and wealth, and creating a responsible capitalism. As for stability, the last government promised an end to boom and bust but gave us both – and left us a dangerous, unsustainable budget deficit. Cutting it is a thankless and unpopular task, but unavoidable if our country and party are to be taken seriously. The Government’s tough approach to deficit reduction is often attacked as ideological, as right wing. Financial discipline is not ideological; it is a necessary condition for effective government. I see us following in the footsteps of Stafford Cripps and Roy Jenkins in post war Britain and, abroad, the Canadian Liberals, Scandinavian Social Democrats and Clinton Democrats in the USA. They understood, unlike today’s Labour Party – that the progressive agenda of centre left parties cannot be delivered by bankrupt Governments. (applause) I think most of the British public do get it. But there are politicians on both left and right who don’t. Some of them believe government is Father Christmas. They draw up lists of tax cuts and giveaways and assume that Santa will pop down the chimney and leave presents under the tree. This is childish fantasy. Some believe that if taxes on the wealthy are cut, new revenue will miraculously appear. I think their reasoning is this: all those British billionaires who demonstrate their p...