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6. 1 Cable worked for the oil company Royal Dutch Shell from toserving as its Chief Economist between and We include information concerning EBITDA because we believe it is a useful measure to evaluate our operating performance.
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Cable studied Economics at Cambridge and Glasgowthen worked as an economic adviser to the Government of Kenya between — and to the Commonwealth Secretary-General in the s and s. From — he lectured in Dpp1 at Glasgow University.
He served as Chief Economist for Shell from 2011 Inhe defected to the newly formed Social Democratic Partywhich later amalgamated with the Liberal Party to form the Liberal Democrats, and he stood unsuccessfully for parliament in the general elections of,and before being elected for Twickenham in Cable resigned from both of these positions in May after becoming Secretary of State for Business, Innovation and Skills in the Cameron—Clegg coalition government.
Following the snap election and resignation of Tim FarronCable stood in the Liberal Democrats leadership election and was elected unopposed. Cable was born in Yorkto a working-class Conservative supporting family.
He then attended Fitzwilliam College, Cambridgewhere he initially studied Natural Sciences and later switched to Economics. He was also a committee member and later President-elect of the Cambridge University Liberal Clubbut he resigned from the Liberal Party before taking up the office of President.
He graduated in with a PhD degree in Economics from the University of Glasgow on economic integration 2011 industrialisation. He was involved in a CBI trade mission to South America at this time, engaging in six months of commercial diplomacy.
In the late s, he was special adviser to John Smith when the latter was Trade Secretary. He was also present at the 29795ru of, and From 2011 s onwards, Cable authored and co-wrote numerous publications in favour of globalisationfree tradeand economic integration such as Protectionism and Industrial DeclineThe Commerce of Cultureand Developing with Foreign Investment.
Cable worked for the oil company Royal Dutch Shell from toserving as its Chief Economist between and His role at Shell came under scrutiny as the company was accused of playing a role in a turbulent era of Nigerian politics during the dictatorship of General Sani Abacha.
Cable later became a Glasgow Councillorand inhe sought the Labour Party nomination for Hampsteadlosing to Ken Livingstone ; who was unsuccessful in taking the seat.
He was the SDP-Liberal Alliance parliamentary candidate for his home city of York in both the and general elections. Cable entered the House of Commons after defeating sitting Conservative MP Toby Jessel in the Twickenham constituency in his second attempt, at the general election.
He subsequently increased his majority at the elections ofand increased still further in He lost his seat inbut regained at in the snap election in InCable was a contributor to the economically liberal Orange Bookwhich advocated for policies such as greater private sector involvement in higher education and healthcare.
Following the Orange Bookhe was one of several Lib Dem MPs that oversaw the party’s shift to economic liberalism with the adoption of a more free market approach,   a development which was suggested by some as having helped lead to the coalition with the Conservatives.
Prior to the Liberal Democrat party conference, Cable did not rule out the possibility that the Lib Dems might form a coalition government with the Conservatives in the event of a hung parliament at the forthcoming general election.
However, party leader Charles Kennedy said that the Lib Dems would remain an “independent political force”. In late or early, Cable presented Charles Kennedy a letter signed by eleven out of the twenty-three frontbenchers, including himself, expressing a lack of confidence in Kennedy’s leadership of the Liberal Democrats.
On 5 Januarybecause of pressure from his frontbench team and an ITN News report documenting his alcoholismCharles Kennedy announced a leadership election in which he pledged to stand for re-election.
However, he resigned on 7 January. Cable passed on the opportunity to run for the party leadership himself, instead supporting Sir Menzies Campbell ‘s candidacy. However, the Daily Telegraph reported in May that he had been unaware that he was entitled to the London Supplement and dpp1 in wrote to the Fees Office to ask if he could receive retrospective payments for —03 and — The Fees Office refused the request, informing Cable that these accounts were already closed.
The Daily Telegraph also noted that he did not take a recent 2. Cable won plaudits for his repeated warnings and campaigns on the high level of personal debt in Britain.
His responsibilities and authority were somewhat reduced when it was revealed in December that he had boasted to Daily Telegraph reporters posing as constituents of his “nuclear option” to bring the government down by his resignation.
Still worse, he claimed to the reporters that he had “declared war” on Rupert Murdoch of News Corporation despite having the responsibility to impartially arbitrate on the News Corporation bid to acquire the remaining Amid cries for his resignation or sacking, all his responsibilities concerning the bid were removed.
Cable did not resign. Asked on Channel 4 News that day by Jon Snow whether he would be a candidate for the leadership, he refused to rule himself in or out at such an early stage, but a few days later; Cable did rule himself out.
Cable received significant acclaim during his tenure as Acting Party Leader, with particular praise for his strong performances at Prime Minister’s Questions. The latter attracted for Cable positive media attention for a joke at PMQs describing Gordon Brown ‘s “remarkable transformation in the last few weeks from Stalin to Mr Beancreating chaos out of order rather than order out of chaos”, called by The Economist”the single best line of Gordon Brown ‘s premiership”.
Cable is credited by some [ who? The Governor said, “there is no indication that the scale of debt problems have 29795ru his book The StormCable writes, “The trigger for the current global financial crisis 29795ru the US mortgage market and, indeed, the scale of improvident and unscrupulous lending on that side of the Atlantic dwarfs into insignificance the escapades of our 2011 banks.
Bush for his response to the financial crisis and for attempting to “save Western capitalism. Cable has also been vocal over the bonus culture in the banking system.
He has called for bonuses to all bank employees to be frozen. However, Cable has been criticised by some, mostly Conservatives, for ” flip-flopping ”  on issues in connection with the crisis.
For example, he is accused of criticising the Government’s policy of Quantitative Easingwhen in January he used the phrase “the Robert Mugabe school of economics”,  while in March he said, “directly increasing the amount of money flowing into the economy is now dpp1 only clear option”.
On the issue of fiscal stimulus, Cable told the BBC in October”it is entirely wrong for the government to assume the economy should be stimulated by yet more public spending rather than tax cuts”.
Despite the severe financial constraints on the public sector, we believe that such a stimulus is right and necessary”. On the principle of the independence of the Bank of England, Cable said at the Liberal Democrat party conference, “The Government must not compromise the independence of the Bank of England by telling it to slash interest rates.
At the general election Cable was again returned as MP for Twickenham. With the election resulting in a hung parliamentCable was a key figure in coalition talks, particularly the unsuccessful negotiations with the Labour Party.
Senior Conservative MPs attacked the rise as a tax on the middle-classes and a betrayal of Conservative values. Cable told BBC News it was a “key” part of the coalition deal and there was no disagreement over it between the coalition partners.
Cable said the changes to Capital Gains Tax would help to fulfil the Lib Dem aim of bringing more “fairness” to the tax system: He insisted there was no real disagreement at the top of government over the changes: In JulyCable sought to reform credit lines amid a “significant demand” according to the Forum of Private Business of smaller firms finding it harder to secure loans.
The British left-wing press has been critical of his role in the Coalition Governmentfrom The Guardian  to The Morning Star describing him as “the man who started off a Lib Dem and now looks more convincingly Tory than most of the Tory frontbench” for his role in supporting public spending cuts.
Beginning in and continuing throughout the Conservative-Lib Dem coalition’s tenure in office, Cable led the drive for deregulation ; notably the ” Red Tape Challenge” to reduce existing regulation and the “One In, One Out” rule to limit any future regulation, Cable agreeing with the need for a “bonfire of regulations”.
In Septemberduring a speech at the Liberal Democrat conference, Cable said that bankers present more of a threat to Britain than trade unions. Cable said that “On banks, I make no apology for attacking spivs and gamblers who did more harm to the British economy than Bob Crow could achieve in his wildest Trotskyite fantasies, while paying themselves outrageous bonuses underwritten by the taxpayer.
There is much public anger about banks and it is well deserved. It does address head on the issue of banks that are too big to fail, the dependency on the government guarantee. It makes the case for separation,” he added.
In JuneCable said “rewards for failure” were unforgivable at a time when real wages were being squeezed across the country. Speaking at the Association of British Insurers biennial conference, Cable warned he planned to bring “excessive and unjustified” executive pay under control by launching a fresh consultation.
He said that although “Britain does have some world-class executives”, investors had not seen a return “since the turn of the century” and claimed executive pay was times that of the average UK employee, whereas it was only 45 in The plans also included binding votes by shareholders on executive pay as well as greater transparency and diversity on boards.
In NovemberCable announced the first of several reforms to employment laws. Beginning with changes to the tribunal system, he proposed the introduction of tribunal fees for employees making claims against employers, stating that the current system had become a “major impediment” to small businesses hiring people.
In an article for The Telegraph in MayCable denounced the “red tape factories” of the European Unioncalling for increased deregulation and labour market flexibilityas well as the expansion of 29795ru Single Market and scrapping of the Working Time Directive.
He revealed that at a recent meeting of European economic ministers in VilniusLithuaniaa group of like-minded nations had formed in making these same demands. In SeptemberCable and his department colleague Michael Fallon announced a large package of deregulation for businesses, including scrapping 3, regulations and implementing exemptions from health and safety inspections for shops, pubsand offices.
Cable claimed that businesses should not be “tied up in unnecessary red tape”, but the move was criticised by trade unions. This was also criticised by trade unions. In JanuaryCable rejected calls by Labour for the government to intervene in the high street crisis following the collapse of music retailer, HMVhe said.
Consumers make their choices and there are consequences. Induring the Israel-Gaza conflictCable received criticism for his involvement in the signing off of arms deals to Israelprimarily concerning component parts used in the assembly of Hermes drones.
In FebruaryCable was reportedly a speaker at an event hosted by various arms companies at the London Hilton hotel. InCable refused to issue export licences for the sale of Paveway IV laser-guided bomb to dpp1 Royal Saudi Air Force over concern about how they might be used in the Saudi Arabian-led intervention in Yemen.
Cable stated he was then given specific assurances by the Ministry of Defence that the UK would be given oversight of potential bombing targets to minimise the risk of civilian casualties, including involvement in decisions, to a similar level given to the United States.
Init became apparent the Ministry of Defence did not have this level of oversight, to which Cable responded “That is categorically contrary to what I was told was going to happen. In late-Decemberundercover reporters from The Daily Telegraphposing as constituents, set up a meeting with Cable, who expressed frustration with being in the coalition and compared it to “fighting a war”; he stated he had “a nuclear option He also claimed the Liberal Democrats had pressed for a “very tough approach” to the UK’s banks, which had been opposed by the Conservatives.
He described the coalition’s attempt at fast, widespread reforms including the health service and local governments as being a “kind of Maoist revolution”, and thought “we [the Government] are trying to do too many things We should be putting a brake on them.
Cable’s stature in the Government grew since then, being dubbed “the moral centre of this Coalition” by Peter Obornechief political commentator at the Daily Telegraph. The National Audit Office said that the Department for Business, Innovation and Skills was too cautious when setting the sale price, but that a planned postal workers’ union strike also affected the government’s sale price.
The NAO also noted that some “priority investors”, had made significant profits following the sale, having been allocated more shares in the belief that they would form part of a stable and supportive shareholder base.
However, almost half of the shares allocated to them had been sold within a few weeks of the sale. Cable lost his seat, previously considered safeto the Conservative candidate Tania Mathias at the general election.
He had also enjoyed the longest tenure as President of the Board of Trade since that of Peter Thorneycroftwhich ended in Cable announced on 18 April his intention to stand for his former seat of Twickenham at the snap general election.
Following Tim Farron ‘s resignation as leader of the Liberal Democrats, Cable announced his candidacy in the subsequent leadership election. On 20 JulyCable became leader of the Liberal Democrats after facing no other competition.
In a manifesto released upon his ascent to leadership, Cable revealed his policy priorities as Liberal Democrat leader would include tackling inequality, improving public services, opposing Brexitelectoral reform and young people.
In late Cable revealed that he had become “more interventionist ” economically due to experiences while in the Coalition government. In September Cable echoed Foreign Secretary Boris Johnson in calling for greater taxation of foreign speculators in the housing market.
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Central Asia Kazakh Tajik Uzbek. Retrieved 14 May Retrieved July 29, He has also long suggested aligning capital gains tax with income tax as a kind of anti-avoidance measure, previously noting this was last a policy of past Conservative Chancellor Nigel Lawson. The Daily Telegraph also noted that he did not take a recent 2. He described the coalition’s attempt at fast, widespread reforms including the health service and local governments as being a “kind of Maoist revolution”, and thought “we [the Government] are trying to do too many things
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