Vince Cable paints the world grey
From our UK edition
Even by his own standards Vince Cable’s speech today was noticeably pessimistic. The Business Secretary warned that the post-war cycle of ever-rising living standards has been broken by the crash. There was little in what he said to suggest that he has any optimism about the prospects for growth over the next few years. If Cable’s analysis is correct — and it is shared, at least in part, by several Tory Cabinet ministers — then the politics of the next few years will look very different than we expected. The initial post-election Tory hope of running a ‘It’s morning in Britain again’ campaign in 2015 now seems like a distant memory.