He was the main economics spokesperson for the Liberal Democrats from 2003 to 2010 and became the Liberal Democrats' Deputy Leader in 2006. In May 2010, a coalition government was formed between the Conservative Party and the Liberal Democrats and Vince Cable was made the Secretary of State for Business, Innovation and Skills. He has promised a 'very radical overhaul' of the state pensions system. He resigned from his position as Deputy Leader in May 2010.