Osborne’s duty

Vince Cable has a point. The government does, alas, lack a ‘compelling vision for the economy’ but the Liberal Democrats see this as an opportunity, not a defect. They regard George Osborne’s agenda as a blank slate on to which they can write all sorts of policies: a mansion tax, capital gains tax, even a state bank which would bring to corporate Britain the sub-prime loans that triggered the financial meltdown in America.