Cable made Lib Dem deputy leader

Mr Cable is on the right of the party

Liberal Democrat Treasury spokesman Vincent Cable has won the contest to become the party's deputy leader.

The 62-year-old MP for Twickenham won the final vote, contested with Matthew Taylor, by 31 to 29.

Former Treasury spokesman Mr Taylor had been leading after the first round, after which David Heath, who shadows the Commons leader, was eliminated.

Mr Cable worked as chief economist for the oil giant Shell before he became an MP in 1997.

Speaking after the announcement, he said he was "delighted and honoured" to take up the post.

"My key priority in the coming weeks will be to focus on the upcoming local elections, where we will once again show that the Liberal Democrats are the best representatives for local communities up and down the country," he said.

Mr Cable is a close ally of new party leader Sir Menzies Campbell.

"Vince's extensive political experience and policy expertise will provide a further boost to a team determined to improve our performance in the May local elections," said Sir Menzies.

Orange Book

From the right of the party, he is one of the authors of the Orange Book, which set out a series of free-market ideas.

He has called for "fairer, not higher taxes" to benefit the poorest in society.

Cambridge-educated Mr Cable was a high-profile backer of Sir Menzies' campaign to become leader.

He first stood for Parliament in 1970 as a Harold Wilson-supporting Labour candidate in Glasgow. He later joined the SDP, which eventually merged with the Liberal Party to form the Lib Dems.

The contenders to become Lib Dem deputy leader had to gather the support of five MPs before standing.