Vince Cable used his first speech as Business Secretary to assert his pro-capitalist credentials in a bid to win round sceptical City bosses. Cable, who described bankers as "Scargills in pin-stripes" during the election campaign, said his criticism had been wrongly interpreted as a "grudge against the City".
"I'm not some kind of a socialist"
In a wide-ranging speech delivered at Cass Business School in London, Cable admitted he had changed his mind and was no longer against cutting public spending immediately.
The full text of Cable's speech can be found on a separate page, here.
