Vince Cable has stressed that the Lib Dems are not “anti-bank or anti-banker”, party.

Which is nice. But, as with most analysis, there seems to be a significant difference between what the market thinks and the underlying values of the party.

Liberal Democrat leader Nick Clegg said yesterday that senior bankers should no longer be paid bonuses. He also said that if the Liberal Democrats form a coalition government they will press for:

•An extra ten per cent levy on operating profits at state-owned banks;

•The government to hold onto its stakes in RBS and Lloyds for up to ten years;

•Capital requirements for banks to be temporarily eased, freeing up cash for lending;

•A separation of retail and investment banking for all institutions operating in the UK;

•And a 50p top rate of tax on capital gains for those earning over £150,000, as part of plans to tax income and capital gains at the same level.

Vince’s credibility just invited a downgrade.