Vince Cable is the new Business Secretary, one of five Liberal Democrats in David Cameron’s new coalition government.
Vince Cable studied Economics at Cambridge University and gained a PhD in Economics from the University of Glasgow. He became an economic advisor to the Kenyan government in 1966 and advisor to the British government and then the Commonwealth Secretary General in the 1970s and 1980s. He served as Chief Economist for the oil company Shell from 1995–1997 before going into politics.
Cable is credited by some with prescience of the global financial crisis of 2007–2010. In November 2003, Cable asked Gordon Brown, then Chancellor, “Is not the brutal truth that … the growth of the British economy is sustained by consumer spending pinned against record levels of personal debt, which is secured, if at all, against house prices that the Bank of England describes as well above equilibrium level?” Brown replied, “As the Bank of England said yesterday, consumer spending is returning to trend. The Governor said: ‘there is no indication that the scale of debt problems have … risen markedly in the last five years.’ He also said that the fraction of household income used up in debt service is lower than it was then.”
## https://en.wikipedia.org/wiki/Vince_Cable
Vince Cable would make a very good choice for Chancellor of the Exchequer, so why is he the Business Secretary while George Osborne with only a second class degree in modern history the new Chancellor of the Exchequer?
He really does deserve it. Although he should be Chancellor
Dear Sir,
I watched the ‘ Made in Britain ‘ program this evening with considerable interest and would like to offer my comments following my 43 year career in Engineering in the Ministry of Defence.
There is no substitute for experience and there are a lot of experienced Engineers who have been either retired or made unemployed and keen to pass on their priceless Knowledge. If a selection of these people were to be offered an opportunity to educate young ‘ would be ‘ Engineers, most would be keen to pass on their skills. We should be making use of this option while we still have this wealth of skills available. There are many genuine Engineers who would be prepared to pass on their priceless experience for minimal pay if they thought their efforts would get this country back on track.
Innovation does not necessarily come from academia yet there is a strong emphasis on university trained students when one is looking for a job. In my experience, university students are good at taking the credit for work done by others. Frank Whittle developed the jet engine before he obtained his degree !
We need to make use of the thin knowledge base that we still have and limit the restrictions imposed by health and safety. Health and safety is essential but like the whistle manufacturer said in the program, lets be sensible about it.
I was fortunate in being able to spend five years as an MOD apprentice, ten years in the Design Office, twenty five years as Design Authority for the decoy systems on Polaris, joint innovator in the only change in the production of pyrotechnics since the Ming Dynasty ( comment by Professor Bailey at Shrivenham )and the remainder of my time on modern battery technology.
During my latter years, I interviewed and enrolled the last of the MOD apprentices, so I do know what I am talking about.
I, and a lot of Engineers would be keen to get involved with any scheme which gave youngsters the opportunity to become an Engineer in any shape or form.
Let us give those youngsters who would like to be involved in Engineering a good start.
Our Government needs to cut the groove. If I can oil the wheels, let me know.
Malcolm Place M.I.E.D. ph. 01892 669004
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