Now the main areas of higher education that still enjoy considerable financial support from government are subjects like engineering and science and the research ringfence which is the basic minimum to protect Britain's scientific competitiveness.

We have sectors of the economy, aerospace is a good example, where Britain's probably the second country in the world, the automobile sector, where we've done extraordinarily well, an enormous amount of investment over the last couple of years, life sciences is another.

We do recognise that there are areas where the current financial services market, the banking market, just isn't working for chunks of the British economy.

Vince Cable Quotes