But then today, he warns against the effect of making big cuts too soon following a disappointing report in the Bank of England's quarterly bulletin about the state of the jobs market. Cable says:
"The clear implication of the Bank’s analysis is that if any Government tries to cut back too soon, it will aggravate unemployment, making the deficit worse and compounding the country’s problems. Each party must set out a clear process of what and how it will cut to tackle the deficit, but when this starts must be guided by economics, not political dogma."
He's right in the last bit, but compared to what he said yesterday, he's trying to have it both ways. Only 5 months ago, Nick Clegg was calling for "savage cuts". LibDems don't like to be reminded of that. Was he being "guided by economics, or political dogma"?