Having been the front man for the entire LibDem campaign until 45 minutes into the Leader’s Debate, Vince has all but disappeared into the background this week. No longer the nation’s favourite politician, his soothsaying sage act is also washing a little thin. Inflation figures released yesterday were higher than Cable expected again at 3.4%, leading him to claim that “the inflation rise appears to be a blip caused by things that are out of our control...”
But that’s not how he saw it when he was reading his magical economic runes three months ago in January, then he said with his characteristic bluffer’s confidence “these figures are almost certainly a temporary spike.” Doesn’t seem too temporary to Guido,* in fact when you print £200 billion and call it quantitative easing (as supported by Cable), you inevitably get inflation.
Perhaps if Clegg would let him back on the platform, he might be able to explain why inflation has remained high and got even worse over the last three months. Could certainly liven up this afternoon’s Chancellor’s Debate…
*Have you taken Guido’s advice?