Iain Dale asks where Vince Cable was in 1997. One would have hoped Iain would know this but Vince was only newly elected that year.
Secondly, for the second time this week he is trying to claim that the Tories were first to predict the economic crisis. Oddly his justification for this last time was a quote from Robert Peston (the BBC economic guru) that stated the Tories were asking questions about the economy before Labour. What the Peston quote didn't say was that the Tories were first to say it. But this didn't stop Iain from taking the quote and claiming it showed the Tories were first and said it before the Lib Dems.
But now he is saying that Peter Lilley, back in 1997, was saying that there were problems ahead. This is odd in itself as it seems to be that Peter Lilley, a Tory, was saying just as the Tories were leaving office, that the Tories policies were wrong. And given that Labour pretty much adopted Tories spending for the first two years of their government, clearly Peter Lilley must have been saying that the Tories own policies were to blame ?
It might make Iain feel better to make spurious claims that the Tories were right, but the country and the press know the truth, and a few postings like Iain's are not going to persuade people otherwise.
Update : As Iain points out to me in the comments, Peter Lilley was explicitly referring to the government decision (Labour) to set up the FSA. I accept that this is not a direct criticism of Tory policies up to 1997 but does beg the more important question as to why it is that Peter Lilley has been sidelined by the Tories since the late 1990s. It seems his criticisms were not welcome in the Tory party, a party reliant on hedge funds managers and city types making large donations from their bonuses. So let's be kind and accept that one Tory might have made a good point. Out of all the Tories in parliament you might bless at least one of them with a brain. You can say he spoke for the Tory Party at this point but when the Tory Shadow cabinet hasn't exactly been repeating Lilley's line since 1997, it tells you where the Tories stand on the issue.
Compare this to Vince Cable who speaks for the Lib Dems officially and remains a key member of the Lib Dem team and there is your difference Iain.