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Osborne a work experience chancellor, says Cable ally | Osborne a work experience chancellor, says Cable ally |
(about 6 hours later) | |
A close ally of Vince Cable has called for the business secretary to replace George Osborne as chancellor. | A close ally of Vince Cable has called for the business secretary to replace George Osborne as chancellor. |
Lib Dem Lord Oakeshott said Mr Osborne was a "work experience chancellor" with "no business experience". | |
He added that the "best people" were needed to help the UK out of its worsening economic situation. | |
Mr Cable later told the BBC he would "probably" make a good chancellor but Mr Osborne was doing the job well and "nobody was suggesting" a change. | |
Speculation about Mr Osborne's future came after the latest figures revealed that the economy had shrunk by 0.7% between April and June. | |
The worse-than-expected figure was the third quarter of a year in a row of falling GDP. | |
In response, Mr Osborne said the government was "dealing with our debts at home and the debt crisis abroad". | |
And he added: "But given what's happening in the world, we need a relentless focus on the economy and recent announcements on infrastructure and lending show that's exactly what we're doing." | |
'Arrogance' | 'Arrogance' |
However, Lord Oakeshott told BBC Radio 4's World at One that his fellow Liberal Democrat Mr Cable should be put in charge at the Treasury. | However, Lord Oakeshott told BBC Radio 4's World at One that his fellow Liberal Democrat Mr Cable should be put in charge at the Treasury. |
He said: "George Osborne has got no business experience. | He said: "George Osborne has got no business experience. |
"He has never worked outside politics. He is doing surprisingly well for a chancellor on work experience. | "He has never worked outside politics. He is doing surprisingly well for a chancellor on work experience. |
"But really in a torrid time like this I think we do need absolutely the best people available." | "But really in a torrid time like this I think we do need absolutely the best people available." |
Lord Oakeshott told the BBC News Channel that the Treasury was displaying "inertia combined with arrogance". | Lord Oakeshott told the BBC News Channel that the Treasury was displaying "inertia combined with arrogance". |
He said: "We have just got to have a bolder plan to to grow, to make the banks lend and to get houses built, and I do think it would help if we had the A-team in the Treasury. | He said: "We have just got to have a bolder plan to to grow, to make the banks lend and to get houses built, and I do think it would help if we had the A-team in the Treasury. |
"George Osborne has been working hard and done his best, but we are in uncharted waters and I think more experience would be good." | "George Osborne has been working hard and done his best, but we are in uncharted waters and I think more experience would be good." |
In an interview with the BBC Two's Newsnight programme, Mr Cable said Lord Oakeshott was a "good friend" but he did not agree with him on the issue. | |
Asked whether he would make a good chancellor, Mr Cable replied: "I probably would but George Osborne is doing the job, we're doing it together well as part of a team, and nobody's suggesting we change the arrangements". |