The Secretary of State for Business, Innovation and Skills has said we were right to enter the coalition.

At the Ealing Liberal Democrat's annual dinner and auction last Saturday (November 22), Vince Cable said the economic situation facing the UK after the last election was the worst in more than 100 years, and among the most critical of developed countries in the world.

He said although the problems caused by the international banking crisis and government over-spending at home are not yet over, the UK is now one of the best performing economies.

Mr Cable added: “In a parliament where no party had an overall majority, the pain of the austerity needed to achieve this turn-round would have been far more unequal in its impact if we had not been prepared to play a part.

“Liberal Democrats remain committed to the objective of a strong economy and a fairer society.

“We can’t protect our services, particularly the NHS, if we aren’t prepared to pay for them. Promises of unfunded tax cuts were particularly misleading and potentially damaging to these services."

In particular, he praised Nick Clegg, the Lib Dem leader, for the principled stance he had taken on insisting we give proper priority to mental health, and to the Ealing Lib Dems for their part in fighting to preserve A&E and other services at local hospitals.

Councillor Jon Ball, prospective Liberal Democrat parliamentary candidate for the Ealing Central & Acton constituency, also praised the party’s efforts to protect local NHS provision.

He said: “ The latest proposals from Ealing’s Labour council to close centres caring for those least able to look after themselves , such as the Carlton Road Day Centre, are both unfeeling and short-sighted. It is likely a greater burden will fall on other parts of our social services as a result.”

The event raised more than £1,500 for local Lib Dem funds.