Commenting on Vince Cable’s speech at the Liberal Democrat party conference, John Longworth, Director General of the British Chambers of Commerce (BCC), said:

"Vince Cable is right to say that all the good things we want to see in society depend on business and wealth creation. Companies will welcome his comments on stability, and his commitment to the government’s deficit reduction plan. Both are fundamental to business confidence and our growth prospects.

"However, Dr Cable and his cabinet colleagues should not be distracted by peripheral issues such as executive pay. While pay should be based on performance in every business, we need the attention of ministers to be focused on radical measures to create wealth, growth and jobs.

"Politicians must remember that their performance is tied to that of business. For that reason, now is the time for them to focus on the core issues, rather than hobbyhorse projects. Business needs real deregulation, access to capital, better infrastructure, and a more productive public sector, and it is down to the government to deliver these and enable firms to grow and thrive.”