Vince Cable stands down as Liberal Democrats' deputy leader

Vince Cable stood down from his role as deputy leader of the Liberal Democrats last night in order to concentrate on his role as business secretary in the new coalition government. His departure after four years in the role now allows for a contest of the parliamentary Lib Dem party, which could see its backbenchers register disquiet at their leadership taking the party into government with the Conservatives. Announcing his decision, Cable said: "It has been an honour to serve as the deputy leader of our party. However, in joining the cabinet I have taken on many new challenges and responsibilities and it is right that I focus wholeheartedly on the job in hand. "These are exciting times to be a Liberal Democrat, and despite all the challenges we face we have a real opportunity to change Britain for the better." Though Cable is known to have made every effort to make a Lib-Lab coalition possible while coalition negotiations were under way with the Tories, his vacation of the post to concentrate on his joint ventures with the Tories makes him less of a lightning rod for Lib Dem dissent. The contest to replace him will take place on Wednesday 9 June, with the result announced that evening. Social liberal and left-winger Simon Hughes is rumoured to be a possible favourite, placating the left of the party uneasy at the coalition and who would like a more muscular and independent voice to stand up for them in coming months as their party leadership experiences more testing political times. Candidates will be nominated next Wednesday. As things stand the party is content with what the Lib Dems have won in government, a partnership it entered into after its parliamentary party voted 50-0 in favour of the move. Former Lib Dem leader Charles Kennedy was among those who abstained.