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Cable calls to 'tighten-up regime of rogue directors'

Business Secretary Vince Cable has called to "tighten-up the regime" of "rogue" directors, under new proposal to disqualify those convicted with overseas offences.

Speaking to ITV News, Mr Cable said: "There are some nasty scams out there, we've had them around wine shops and land banks... a lot of people have been cheated out of a lot of money".

Cable: 'Rogue' directors can cause huge amount of harm

Government proposals to implement more restrictions and punishments for so-called "dodgy directors" will protect Britain's economy, Business Secretary Vince Cable has said. He added:

The vast majority of directors in this country run their businesses in the right way. But some people have suffered unnecessary losses as a result of rogue behaviour.

Rogue directors can cause a huge amount of harm in terms of large financial losses, unnecessary redundancies and lifelong investments going down the drain. It is only right that we should put the toughest possible sanctions in place, make sure we stamp out unfair practices and deter those who are looking to act dishonestly.

Read: Government to crackdown on 'dodgy directors'

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Government to crackdown on 'dodgy directors'

The Government is set to bring forward proposals aiming to implement more restrictions and punishments for so-called "dodgy directors".

Directors convicted of a commercial offence overseas would be banned from running British companies under the plans, Business Secretary Vince Cable said.

Vince Cable said the proposed changes would "protect the British economy" Credit: PA

The Department for Business, Innovation and Skills (Bis) said courts could also be asked by the Government to award compensation against a disqualified director, although the court would have the final say.

It is understood the measures are expected to be brought forward as part of the Government's legislative programme for the next session of Parliament, which will be outlined in the Queen's Speech on June 4.

Cable: Allegations of Cyril Smith cover up 'very serious'

File photo dated 01/05/91 of the late Sir Cyril Smith. Credit: John Giles/PA Wire

Business Secretary Vince Cable has spoken about the "horrific" allegations that the late MP Sir Cyril Smith sexually and physically abused young boys in the 1960s, saying that the suggestion of an establishment cover up was "very serious".

Speaking as one of the guests on The Agenda with Tom Bradby on ITV tonight, Mr Cable said:

“It is horrific, it is really horrible. Let’s remember this was a very long time ago. We’re talking 40-50 years ago. This is the Saville era. I mean I was actually a member of the labour party when all of this happened. I’ve no personal recollection of it.”

More: Young boys 'were victims of abuse' by Sir Cyril Smith

When questioned on whether the case was an establishment cover up, Cable commented:

“That’s the suggestion, I mean these are allegations. They are very serious. This is criminal paedophilia on a very large scale. It’s absolutely awful.”

The Agenda with Tom Bradby is on ITV tonight at 10:35pm.

Get involved in the debate during the show using the hashtag #theagenda and following @agendaitv.

Vince Cable to appear on The Agenda tonight

Business Secretary Vince Cable will appear on The Agenda tonight. Credit: Danny Lawson/PA Wire/Press Association Images

Vince Cable, the Secretary of State for Business, Innovation and Skills, will join ITV News Political Editor Tom Bradby on The Agenda tonight.

Also on the panel will be the children's author Michael Morpurgo, the novelist and columnist Allison Pearson and the actress and writer Emma Kennedy.

They will be discussing bad behaviour in schools, the housing crisis and ageism.

The Agenda with Tom Bradby is on ITV tonight at 10:35pm.

Get involved in the debate during the show using the hashtag #theagenda and following @agendaitv.

Vince Cable to face further Royal Mail grilling

Business Secretary Vince Cable is being recalled to the business select committee on April 29 to give further evidence over the privatisation of the Royal Mail, it was announced today.

Business Secretary Vince Cable to face further scrutiny over the privatisation of Royal Mail Credit: PA

Read: Cable: No apology over handling of Royal Mail sale

Read: Cable criticised as Royal Mail's owners revealed

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Cable: Home ownership 'unaffordable' for families

Home ownership is becoming "unaffordable" for middle income families, the Business Secretary has warned.

Cable: Home ownership 'unaffordable' for families.
Cable: Home ownership 'unaffordable' for families. Credit: Yui Mok/PA Wire

In an interview with The Independent, Vince Cable said there were still not enough homes being built to satisfy the demand of people wanting to buy a place of their own.

"The fundamental problem is a chronic imbalance between supply and demand. A recovering mortgage market is just fuelling demand again," he said.

"A family on average income is nowhere near able to afford a house at the average price. Property has become much more unaffordable for people on middle incomes."

'Dunce' Cameron takes aim at 'muppet' Miliband

Ed Miliband has branded David Cameron a "dunce" over his handling of the Royal Mail privatisation, prompting the Prime Minister to attack his Labour opponent as a "muppet" over his role in selling off the UK's gold stockpile.

Read: Government 'more concerned by successful Royal Mail sale than share price'

The pair clashes in a heated Prime Minister's Questions, in which the Labour leader claimed the Government had "lost £1.4bn for the taxpayer" by undervaluing shares in Royal Mail.

As well as his attack over the sale of British gold - which took place when Gordon Brown was Chancellor - Mr Cameron claimed Labour had themselves wanted to privatise the Royal Mail.

"The truth is this. You sat in a Cabinet that wanted to privatise the Royal Mail, they couldn't do it... because the trade unions won't let them," Mr Cameron said.

Cable: No apology over Royal Mail sale

Vince Cable has refused to apologise for the Government's handling of the Royal Mail privatisation, amid Labour claims of a "first-class disaster".

The Business Secretary clashed with his Labour opposite number, Chuka Umunna, in the House of Commons, with Mr Umunna claiming the low initial share price for the company meant investors were "laughing all the way to the bank".

Vince Cable addressing the House of Commons Credit: ITV News

But Dr Cable hit back, saying:

"The last thing I intend to do is apologise. What I do intend to do is to refer to what the report actually said as opposed to the spinning and the froth that is being generated around me."

Read: Royal Mail was 'undervalued & sale left public short-changed'

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