Vince Cable has pledged to offer an “exit from Brexit” as the new leader of the Liberal Democrats, signalling he will continue to push his party’s demand for a second referendum on EU membership.



The 74-year-old former business secretary was named party leader as the only candidate on the ballot paper when nominations closed at 4pm on Thursday. Former leader Tim Farron, who stood down after the election citing conflicts with his Christian faith and the demands of leadership, said his successor would be “strong and Cable”.

'Vince Cable is a building block': Lib Dems on the party's future Read more

Cable had initially been reticent to endorse calls for a second referendum on the EU but said he was now convinced of the need to give the British people a say on the final Brexit deal, which would include the option to remain.



“What we now need is an exit from Brexit,” he said. “The exit from Brexit comes as a result of the policy that we have adopted, which is that we must consult the British public at the end of the process.

“Voters should be asked, ‘Do you wish to accept what is coming down the track, jumping off the cliff and hoping there’s a tree to catch you, or do we want to stay within the European Union?’.”

Cable said British politics was “more polarised and divided than at any time any of us can remember” and said there was a void in the centre of British politics. “My aim is that my party will occupy that space in British politics,” he said.

The new leader said he feared a “disastrous outcome” to the Brexit talks and said he wanted to work with others in other parties to preserve the single market and the four freedoms, including free movement.

However, Cable said he did not want Europe to be the party’s sole focus, particularly given his reputation as an economist. “I came into politics as a radical and a reformer and I want to put at the centre of what I do addressing some of the inequalities that disfigure British society,” he said.

“I think it can be done because at heart the British public are humane and tolerant and I think we can appeal to that instinct, which is in very marked contrast to the icy indifference of this Conservative government.”

Though Cable said he would do no pacts or deals with either Labour or the Conservatives, he had some praise for Philip Hammond in his battles with hardline Brexiters in the cabinet, calling the chancellor a “political adult”.

“You’ve got Boris Johnson in short trousers, and Dr Fox in nappies,” said Cable. “In that company he deserves some qualified support.”

He takes charge after the early favourite for the job, Jo Swinson, stood aside and stood instead for deputy leader, where she was again the sole candidate. Former cabinet minister Ed Davey also said he would not run for family reasons and party health spokesman Norman Lamb also declined to run.

The party’s new leadership team are both newly returned as MPs. Cable returns to parliament to lead the party just weeks after regaining his Twickenham seat that he lost in 2015. Swinson too regained her East Dunbartonshire seat in June after losing it in 2015, having been a coalition minister.

The deputy leader said the party was fortunate to have a recognisable face at the helm. “He was a sage on the financial crisis and keeps a calm head in times of crisis,” she said. “When Vince speaks people listen, so our distinctive liberal voice will be heard.”

At the launch, Farron described Swinson as the party’s future, but Cable denied he was a stop-gap leader. “I will serve for as long as I need to,” he said. “I’m not here for the short term, I’m not here as a caretaker.”

Farron praised Cable as a “campaigner and a statesman” who understood the challenges Britain faced more than any other political leader: “This is no time to allow our destiny to be in the hands of fools or extremists. This is the time for a fresh start.”