Vince Cable to launch a scathing attack on city practices
Business Secretary Vince Cable is today expected to launch a scathing attack on the UK financial arena highlighting "murky practices" and self-interest in an attempt to appease Liberal Democrats concerns about the coalition government. Over the last few days it is become more apparent that Vince Cable and Nick Clegg are veering off-line with regards to the coalition government's official line on the city which could cause friction with David Cameron and his Conservative counterparts. So why are Vince Cable and Nick Clegg attacking the city?
It seems that the traditional differences between the Conservative party and the Liberal Democrat party are becoming more and more apparent each day. Nick Clegg is under pressure from his fellow Liberal Democrats party members who have accused him of selling out to the Conservative party and is obviously looking to curry favour with party members. On the other hand Vince Cable would appear to be coming more and more detached from the coalition government amid rumours he is considering his position in the longer-term because of policy differences.
The next danger for the coalition government is the Conservative Party conference which could see party concerns about the coalition also come to the fore.
Share this..
Related stories
Was T5 worth all of that money and bother?
News that the performance of Heathrow is as low now as it has ever been in recent history does not back up the wild promises of BAA and British Airways prior to the opening of the 'white elephant' that is Terminal 5, Heathrow. So what is going wrong now?
A report by the Civil Aviation Authority (CAA) has confirmed that during the months of April, May and June nearly four out of ten...
Is it time for the UK government to exit the banking sector?
Today's revelation that taxpayer share stakes in Royal Bank of Scotland and Lloyds bank currently boast a £3.4 billion profit has prompted the question from many in the UK investment arena as to whether the UK government should now consider exiting the banking sector? If you cast your minds back just a few months the taxpayer stakes in Royal Bank Scotland and Lloyds bank were showing enormous...
Read MorePoundland sold in £200 million deal
Private equity group Advent today sold Poundland to rival Warburg Pincus in a deal which is said to be worth £200 million. The bosses of the operation will receive a £20 million windfall although a number have decided to reinvest under the new owner to take a 25% stake in the business. This is just the latest example of cut-price goods proving very defensive during a recession which has seen bus...
Read MoreNational Express on the verge of being taken over
National Express today stands on the verge of being taken over in a potential £765 million deal financed by Spain's Cosmen family, the largest shareholder in the group, in unison with CVC. The consortium increased its offer to £5 a share which is a significant improvement on the earlier offer of £4.50 a share. The consortium has also confirmed that a previous agreement with Stagecoach to acquir...
Read MoreHas George Osborne pulled the rug from the FSA?
Rumours in the market suggest that George Osborne is on the verge of announcing major changes to the FSA (Financial Services Authority) which could see the Authority become a subsidiary of the Bank of England. Despite indications to the contrary only days ago it now seems that the Conservative party is trying to push through its initial plans to strip the FSA of its main status in the UK regulator...
Read More