Industrial Strength Cable

An article by George Parker discussing UK industrial policy has just been posted at FT.com (£). Its focus is a letter from Vince Cable to David Cameron and Nick Clegg. Cable is of the view that Coalition thinking on the economy is falling short. There is need to look beyond the electoral cycle and look to the long term. If we want to avoid an over-reliance on finance, what are the foundations upon which the UK economy is to rest? He is quoted as arguing:

There is something important missing: a compelling vision of where the country is heading beyond sorting out the fiscal mess; a clear and confident message about how we will earn our living in future.

This is undoubtedly correct. It has been evident for quite some time. Many people, including me, were blogging about it a year or more ago.

So the question is why it has taken so long for Cable to raise the issue.

Better late than never I guess.

It will be interesting to see what the response is.

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