Vince Cable backs George Osborne as chancellor

25 July 2012 Last updated at 17:38 ET Help

The senior Liberal Democrat peer, Lord Oakeshott, has called for George Osborne to be replaced as chancellor with the Liberal Democrat Business Secretary Vince Cable.

His comments came after the latest figures revealed that the economy had shrunk by 0.7% between April and June.

Speaking to the BBC's Newsnight Mr Cable said he still supported the chancellor.

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