Following the '' Orange Book '' , Cable was one of several Lib Dem MPs who oversaw the party 's shift towards economic liberalism with the adoption of a more free market approach , a development which was suggested by some as having helped lead to the 2010 coalition with the Conservatives . In 2005 , as Liberal Democrat Treasury spokesperson , he suggested the possibility of the party dropping its commitment to a 50p top rate of income tax , supported exempting people on low income from income tax completely , and explored the possibility of a flat tax , with the former two proposals later becoming party policy . Also in 2005 , he said that there was no future for the Liberal Democrats to the left of New Labour . He was critical of what he considered the Labour government 's slow response to cutting government waste , later accusing Labour of allowing a " writhing nest " of quangos to develop
2010 coalition with the Conservatives
2010 United Kingdom government formation
Vince Cable