Business Secretary Vince Cable was taped by Daily Telegraph journalists posing as constituents. He told them that that “I have a nuclear option ... If they push me too far then I can walk out and bring the government down.” Cable’s Liberal Democrat party is junior partner to the Conservatives in Britain’s coalition government. Before the election Cable was strongly critical of many economic policies his government now endorses as it seeks to cut public spending and slash the country’s deficit.
Cable told the reporters that his desire for a tough approach to the banks, which precipitated the financial crisis, had been opposed by “our Conservative friends.” He likened the planned reforms to health care and local government to a “Maoist revolution ... which is in danger of getting out of control.” “They haven’t thought them through,” Cable said.” We should be putting a brake on it.” After the story ran, Cable issued a statement saying “I am embarrassed by these comments and I regret them.” “I have no intention of leaving the government.” But the opposition Labour Party said Cable’s unguarded comments revealed deep divisions within the government, which was formed after no party won an outright majority in May’s national election.
“The government is paralyzed while millions wonder if their job will go next,” said Labour’s business spokesman, John Denham.
