Business Secretary Vince Cable is a ‘socialist who found a home in the Lib Dems’, claims Adrian Beecroft, a Tory donor and venture capitalist who reviewed employment law for No 10.

In his interview with the Daily Telegraph, Adrian Beecroft attacked Vince Cable saying that Business Secretary’s objections to the proposals are “ideological not economic”. Beecroft’s intervention came after Cable described his plans for boosting UK businesses, which are reportedly backed by most of the Tory’s MP, as ‘bonkers’.

“I think he is a socialist who found a home in the Lib Dems, so he’s one of the Left. I think people find it very odd that he’s in charge of business and yet appears to do very little to support business”, said Beecroft, who was asked to review employment law by Downing Street.

The Tory donor in the interview also declared that the Lib Dems are holding back the Tories, blaming Nick Clegg of blocking reforms by issuing a “hollow threat” to “go nuclear” and bring down the government.

Beecroft told the Telegraph that if Government fails to introduce his reform of employment laws, economy will loose at least £50 billion, or 5% in terms of growth. No 10 advisor adviser criticised the Treasury for failing to “drive growth”, but confirmed that he backed the delay of new family friendly rules.

The entrepreneur’s report, which was published on Monday, reportedly outlined plans to make it easier to sack poor performers. He called for a standard 30-day period and an emergency five-day period, instead of the current mandatory 90-day consultation period, if a firm was in severe distress.

Related:
Nick Clegg: Social mobility is a vital task facing coalition government
Nick Clegg wants a transparent judiciary system
Nick Clegg urged Lib Dems ‘to be proud’