Business

Mr Cable: What he thinks about the Telegraph

BBC business editor Robert Peston on the Business Secretary's unguarded remarks

Some would say that Mr Cable is fortunate to still be Business Secretary.

Some would argue Mr Cameron's decision to rebuke him rather than dismiss him shows that the coalition's grip on power is not as firm as it would like - in that, perhaps, Mr Cable is still in his job because of the perceived damage he could do the solidarity of the coalition from the bankbenches.

However Mr Cable and his department have paid a substantial price - in that the whole of the business department's media responsibilities are being transferred to the department of culture, media and sport.

Which means that Jeremy Hunt as culture secretary will now have 50 more civil servants working for him, who are being transferred from the business department..

And Mr Hunt will have responsibility for deciding in early January whether News Corporation's bid for the 61 per cent of British Sky Broadcasting it doesn't own needs to be probed further by the Competition Commission.

If Mr Cable owes his continuation in office to the generosity of Mr Cameron, the prime minister may be interested in Mr Cable's views of what the two of them have in common.

Again, these are remarks which were not in the Daily Telegraph's self-proclaimed full transcript this morning. And interestingly they are not wholly flattering about the Telegraph or about the relationship between the Tory "faithful" on the one hand and Mr Cameron and his Chancellor George Osborne, on the other.

"I assume you don't read the Daily Telegraph or Daily Mail but Cameron is being attacked by his own people for being a liberal.

"You see the same thing is happening to both sides. He and Osborne are both hated by their own party faithful. And I'm not kidding, if you read the Daily Telegraph I am described as a communist. They are saying 'why have you got this anti-bank communist in your government?' And they are attacked for betrayal in the same way that we are."‬‪

You can keep up with the latest from business editor Robert Peston by visiting his blog on the BBC News website.

More on this story

Around the BBC