"For too long the mirage of growth... has hidden the harder virtues of making things productively"

Business quote of the day.

Vince Cable. Photograph: Getty Images

For too long the mirage of growth based on property speculation and financial gambling has hidden the harder virtues of making things productively.

Vince Cable, business secretary, who is set to announce that £1bn of capital will be pumped into the government’s new business bank. The coalition is hoping the bank will stimulate up to £10bn of lending to small and medium-sized businesses. Cable will announce the investment in Brighton today at the Liberal Democrat party conference, along with reiterating his earlier call for an “industrial strategy” for the country.