I hate to find myself agreeing with the sentiments aired by Cable. However, his grasp of policy does place him on the same side as other cautious critics of the coalition's policies. Tinkering with access to credit could stimulate an artificial rise in property prices unreflective of actual demand in the economy. Not that Cable is averse to tinkering in his own way.
Without interest rate policy, governments have to rely on other methods to pump up a boom in time for the election. It is an irony that Brown did abolish boom by fostering an eternal bust. Now Osborne has reinvented boom and bust: boomtime for your vote and bust a year later, or midterm as the scheme runs out in 2017.
Which wag will call this the 'Help to Buy Your Vote' scheme.