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Vince Cable: Our obsession with competitiveness risks another crash

The government's plans to free up the City after Brexit could backfire

Failing to learn the lessons of history could plunge us into another financial crisis
Failing to learn the lessons of history could plunge us into another financial crisis Photo: Chris Ratcliffe/Getty Images

Sir Vince Cable was shadow Chancellor from 2003 to 2010, secretary of state for business, innovation and skills from 2010 to 2015, and leader of the Liberal Democrats from 2017 to 2019. 

It is now 15 years since the first tremors were felt. They became a financial earthquake that humbled — and almost destroyed — major banks. They caused immense economic damage and hardship, some of which is being felt to this day.

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