In his speech to corporate executives, the Business Secretary deliberately condemned the Tories for following a naive economic policy, in order to get rid of the impact of recession.

The comments by Vince Cable were made specifically against David Cameron and George Osborne, the Chancellor, who ridiculed and warned against the harms inflicted by Gordon Brown and Labour on the economy and public services.

The statements by Mr. Cable arrived after Mr. Cameron came up with his plans to boost economic growth. He criticized the Conservatives by saying that the economic assumptions, what they used to back earlier, are now opposed by them.

Mr. Cable said, “Those of us who were worrying publicly about the unsustainable build-up of household debt, the housing bubble and the lending practices of banks were regarded as eccentrics or party poopers”.

The statements pointed towards Conservatives’ new plan of “sharing the proceeds of growth” that involves earning additional revenue as the economy grows or sharing the proportion between enhanced Government spending and reduction in taxes.

Also, Mr. Cable at his speech to the annual CBI conference criticized Chief Executives of Companies over their robust pay packages. He also called for consultation, in order to upgrade the level of corporate governance.