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Cable to urge caution over economy

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Business Secretary Vince Cable, pictured in a file photo, was on Wednesday to warn that the economy was still in a precarious position despite chancellor George Osborne's insistence that country was "turning a corner".AFP/File

Business Secretary Vince Cable was on Wednesday to warn that the economy was still in a precarious position despite chancellor George Osborne's insistence that country was "turning a corner".

The Liberal Democrat minister was to caution that the recent release of positive figures was no reason to become complacent.

In a speech to be delivered to business leaders at Warwick University later Wednesday, he will stress that "a few quarters of good economic data" did not mean the government could "rest on our laurels", according to released extracts.

He is also due to say that the "beginnings of a recovery story" would not become "meaningful" until the economy was rebalanced by an increase in investment.