Age ‘not an issue’ in leadership, says Cable

In an interview with Cathy Newman, the Business Secretary also defended plans for a new business bank as well as outlining his continued support for a mansion tax.

The 69-year-old insisted he was not too old for any job in government, telling Cathy Newman: “I’ve got one of the toughest jobs in government, I work hard, I’ve got plenty of energy, I’ve got good health, I don’t see my age as being a problem.”

However he stressed that he was not after Nick Clegg’s job – despite recent polls showing that he would be a much more popular leader.

“I’m not bidding for the leadership but whatever job I have…I don’t see my age as an impediment,” he added.

Sir Menzies Campbell, Nick Clegg’s predecessor, resigned as Liberal Democrat leader in October 2007 at the age of 66, amid suggestions that he was too old to connect with younger voters.

‘Fairer tax’

Mr Cable also hinted that the Lib Dems’ mansion tax plans may have to wait until after the election – and a possible Liberal Democrat-Labour coalition.

“We haven’t persuaded the Conservatives yet – but there are a lot of thoughtful Conservatives who do see that it is fair and right and also efficient to tax extremely valuable property more and in a fairer way,” he said.

Asked by Cathy Newman if this could mean waiting to get Labour as a coalition partner rather than the Tories, he responded: “It is a distinctive policy that we know is right and popular, and we will continue to make the case, and if we don’t persuade the Conservatives we will continue to make the case into any future election, of course.”

Business bank

The business secretary also insisted that plans outlined today for a new bank to kickstart lending to small and medium-size businesses were a valuable addition to other schemes already in place.

“What we’re talking about with this business bank is something different. We’re talking about taking a billion pounds of taxpayer’s money and bringing in some serious long term private investors, using government guarantees to create ten billion of mainly long term funding to supplement small and medium size enterprise.

“It’s something that, quite apart from the crisis, Britain has long been deficient in, unlike countries like Germany… British business is not going to fly unless it gets proper support.”