Cable: New party may form after Corbyn's Labour win

Former Business Secretary Sir Vince Cable has suggested a new political party may emerge as frustrated Labour moderates team up with the Liberal Democrats following Jeremy Corbyn's election win.

The senior Lib Dem made the prediction as he called for a "common sense centre-left formation" to oppose the Conservatives.

Sir Vince Cable said "millions of people" want an alternative. Credit: PA

There are many voters who will never back the Tories, and are now desperately unhappy with Labour's leftward lurch, who will be looking for a new home. I think we may get some people coming across. It may even become an avalanche, although I doubt it. Defection is never an easy option, as I know all too well.

– Sir Vince Cable

"What I hope emerges from this is the creation of a common sense centre-left formation made of sensible Labour, the Lib Dems and indeed some Tories who don't like the direction of their party", he added.

"It will be a very long process but ultimately, this movement might well have to become a fully fledged political party."

Sir Vince's comments came after Lib Dem leader Tim Farron claimed his party offers the only credible alternative to a generation of Tory rule despite the party's disastrous general election result.