Why the CBI got it so wrong on Cable's speech

The reaction by the CBI to Vince Cable's speech was absolutely extraordinary, and a symptom of the problem we face.

To give him credit, it may be that Richard Lambert never actually read what Vince said when he made his remarks. If he had, he would have realised that the Business Secretary was absolutely pro-enterprise, pro-competition and pro-business.

But he wasn't pro-monopoly, or pro-corruption. What is extraordinary is that Lambert and the CBI reach for their dictionary of insults, not bec...