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Cable cautious over recovery

Just two days after the Chancellor said the economy had "turned a corner", the Business Secretary Vince Cable will warn of the dangers of being complacent about the recovery on the strength of "a few quarters of good data."

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Cable wants Help to Buy mortgage scheme rethink

Vince Cable warned against a new housing bubble that could result from the government's mortgage guarantee scheme. Credit: PA

Business Secretary Vince Cable has called for a rethink of Chancellor George Osborne's flagship Help to Buy scheme amid fears of a new housing market bubble.

Mr Cable questioned whether the second part of the scheme - providing government guarantees for low-deposit mortgages - should go ahead as planned in January.

"We should certainly think about how it should come into effect, indeed whether it should come into effect, in the light of changing market conditions. We don't want a new housing bubble," he told Sky News.

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