Commenting on Vince Cable’s widely trailed speech to the Lib Dem Conference, Scottish Trades Union Congress (STUC) General Secretary, Grahame Smith, said:
“The STUC welcomes this speech. For far too long politicians have ignored the failure of the UK’s model of turbo charged finance capitalism.
“Mr Cable’s propositions that markets are often irrational and rigged and that the City undermines successful UK companies by its relentless focus on short-term profit maximisation should be entirely uncontroversial.
“However, there is little sign yet that Mr Cable’s ideas are influencing policy. In particular, the Coalition approach to business regulation is impossible to reconcile with the ideas presented by Mr Cable today.
Perhaps the various reviews announced by Mr Cable today will result in genuine changes, but the STUC is not holding its breath”
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