Sir Vince Cable has suggested that Chuka Umunna could lead the Liberal Democrats one day, amid claims from party insiders that the former Labour MP has “set himself up for the next leadership race”.

Unveiling his party’s new MP at a press conference yesterday, Sir Vince praised Mr Umunna as a “big political figure” who had the “leadership potential” necessary to run in the future.

Whilst he insisted that Ed Davey and Jo Swinson were “excellent candidates” to replace him when he steps down next month, he acknowledged that Mr Umunna was one of several “good people coming through the ranks" for a contest further down the line.

It came less than 24 hours after Mr Umunna, who briefly ran for the Labour leadership just four years ago, announced he was joining the Liberal Democrats, his third political party in 2019.

The Streatham MP had been a founding member of the breakaway group Change UK, but quit earlier this month after the party tanked in the European elections.

The move has been hailed as a major scalp for Sir Vince, who was originally snubbed by Mr Umunna and other Labour and Tory defectors when they broke away from the two main parties earlier this year.