By . Matt Chorley, Mailonline Political Editor . PUBLISHED: . 05:31 EST, 8 January 2014 . | . UPDATED: . 11:04 EST, 8 January 2014 . Vince Cable could become Home Secretary in a future coalition, friends have claimed . The Lib Dems’ economic guru has ’given up’ his dream of being Chancellor of the Exchequer, admitting that the larger coalition party should take charge of the Treasury. Aides moved today to insist the Business Secretary was not eying Theresa May's job, as Tory MPs predicted he would be a 'complete and utter disaster' if put in charge of the country's borders. Lib Dem Vince Cable would like to Home Secretary to change the direction of the coalition's immigration policy which he fears his damaging business and universities . As the Lib Dem shadow chancellor in opposition, many had assumed Mr Cable would have taken a job at the Treasury when the coalition was formed in 2010. But his relationship with Conservative George Osborne was so bad he was instead handed the Department for Business, Innovation and Skills. He regularly launched attacks on Mr Osborne’s economic strategy, most recently warning the Chancellor’s flagship Help to Buy scheme to get more people on the property ladder risked fuelling a new house price bubble. However, Mr Cable has also been outspoken about the Tory target of cutting net migration to the tens of thousands, warning of the impact on attracting highly-skilled immigrants and foreign students. One source told MailOnline that Mr Cable would be open to the Home Office job 'because of the migration thing' and suggested he had 'given up on the Treasury'. Another source insisted Mr Cable did not want Mrs May's job but added: 'He has real concerns about the way the rhetoric on immigration is affecting business and universities.’ However, the idea of the senior Lib Dem taking charge of Britain's law and order was dismissed as laughable but the Conservatives. Tory MP Philip Davies said: I think Vince Cable is an idiot. If you want to have unlimited immigration then I am sure Vince Cable would be a completely brilliant Home Secretary. 'But for the vast majority of the public it would be a complete and utter disaster.’ Fellow Conservative Douglas Carswell thought the idea was a joke: ‘Is it April Fool’s Day yet? I thought we had only just had Christmas.’ Deputy Prime Minister Nick Clegg has complained of having to intervene in policy rows with Home Secretary Theresa May on an 'almost daily basis' Mr Cable reignited coalition tensions on immigration yesterday after warning David Cameron’s target would not be met. He said: 'Setting an arbitrary cap is not helpful, it almost certainly won’t achieve the below 100,000 level the Conservatives have set, so let’s be practical about it.’ Meanwhile, Mr Clegg no longer views as Mr Cable as a threat to his leadership, but expects him to play a key role in the next election campaign. ‘Vince has been put back in his box,’ said a senior Lib Dem source. Another source close to Mr Clegg said: ‘The danger to Nick’s leadership has passed, he is in a stronger position than he has been at any point in the coalition. If the Lib Dems demanded the Home Office in a coalition deal with Labour, shadow Home Secretary Yvette Cooper would have to be found another job . ‘At the end of the day Vince will be part of the team up to the election and beyond.’ There is little chance of Mr Cable . becoming Home Secretary in this coalition, but it could be a key demand . of any future coalition talks. Making the Home Office a dealbreaker for a future-power sharing deal would be hugely contentious for both Labour and the Tories. It . would mean the Tories ditching Mrs May or Labour leader Ed Miliband not . keeping Yvette Cooper in the job she currently shadows. Mr Cable has repeatedly clashed with current Home Secretary Theresa May, warning curbs on numbers coming to Britain would cause ‘enormous damage’ particularly to universities which rely on income from overseas students. The Lib Dems have grown increasingly frustrated with the Tory-dominated Home Office. Deputy Prime Minister Nick Clegg complains of having to intervene in policy disputes with Mrs May ‘on an almost daily basis’. The political battles escalated when Lib Dem Norman Baker, who claimed MI5 covered up the death of government weapons adviser Dr David Kelly, implicated the security was made a Home Office minister by Mr Clegg in October’s reshuffle. With Labour’s poll lead over the Tories narrowing, a hung parliament looks increasingly likely in 2015. Mr Clegg is being urged to consider demanding control of one, big government instead of spreading ministers too thinly across Whitehall. A Downing Street source said: 'Theresa May is an excellent Home Secretary.'
Lib Dem Business Secretary has given up hope of becoming Chancellor .
But now has eye on the Home Office after row with Tories over immigration .
Reignited tensions with warning Tory net migration target not realistic .
Team Clegg say they no longer see Cable as a leadership threat .
Tory MPs predict Cable in charge of borders would be an 'utter disaster'
By . Matt Chorley, Mailonline Political Editor . PUBLISHED: . 05:31 EST, 8 January 2014 . | . UPDATED: . 11:04 EST, 8 January 2014 . Vince Cable could become Home Secretary in a future coalition, friends have claimed . The Lib Dems’ economic guru has ’given up’ his dream of being Chancellor of the Exchequer, admitting that the larger coalition party should take charge of the Treasury. Aides moved today to insist the Business Secretary was not eying Theresa May's job, as Tory MPs predicted he would be a 'complete and utter disaster' if put in charge of the country's borders. Lib Dem Vince Cable would like to Home Secretary to change the direction of the coalition's immigration policy which he fears his damaging business and universities . As the Lib Dem shadow chancellor in opposition, many had assumed Mr Cable would have taken a job at the Treasury when the coalition was formed in 2010. But his relationship with Conservative George Osborne was so bad he was instead handed the Department for Business, Innovation and Skills. He regularly launched attacks on Mr Osborne’s economic strategy, most recently warning the Chancellor’s flagship Help to Buy scheme to get more people on the property ladder risked fuelling a new house price bubble. However, Mr Cable has also been outspoken about the Tory target of cutting net migration to the tens of thousands, warning of the impact on attracting highly-skilled immigrants and foreign students. One source told MailOnline that Mr Cable would be open to the Home Office job 'because of the migration thing' and suggested he had 'given up on the Treasury'. Another source insisted Mr Cable did not want Mrs May's job but added: 'He has real concerns about the way the rhetoric on immigration is affecting business and universities.’ However, the idea of the senior Lib Dem taking charge of Britain's law and order was dismissed as laughable but the Conservatives. Tory MP Philip Davies said: I think Vince Cable is an idiot. If you want to have unlimited immigration then I am sure Vince Cable would be a completely brilliant Home Secretary. 'But for the vast majority of the public it would be a complete and utter disaster.’ Fellow Conservative Douglas Carswell thought the idea was a joke: ‘Is it April Fool’s Day yet? I thought we had only just had Christmas.’ Deputy Prime Minister Nick Clegg has complained of having to intervene in policy rows with Home Secretary Theresa May on an 'almost daily basis' Mr Cable reignited coalition tensions on immigration yesterday after warning David Cameron’s target would not be met. He said: 'Setting an arbitrary cap is not helpful, it almost certainly won’t achieve the below 100,000 level the Conservatives have set, so let’s be practical about it.’ Meanwhile, Mr Clegg no longer views as Mr Cable as a threat to his leadership, but expects him to play a key role in the next election campaign. ‘Vince has been put back in his box,’ said a senior Lib Dem source. Another source close to Mr Clegg said: ‘The danger to Nick’s leadership has passed, he is in a stronger position than he has been at any point in the coalition. If the Lib Dems demanded the Home Office in a coalition deal with Labour, shadow Home Secretary Yvette Cooper would have to be found another job . ‘At the end of the day Vince will be part of the team up to the election and beyond.’ There is little chance of Mr Cable . becoming Home Secretary in this coalition, but it could be a key demand . of any future coalition talks. Making the Home Office a dealbreaker for a future-power sharing deal would be hugely contentious for both Labour and the Tories. It . would mean the Tories ditching Mrs May or Labour leader Ed Miliband not . keeping Yvette Cooper in the job she currently shadows. Mr Cable has repeatedly clashed with current Home Secretary Theresa May, warning curbs on numbers coming to Britain would cause ‘enormous damage’ particularly to universities which rely on income from overseas students. The Lib Dems have grown increasingly frustrated with the Tory-dominated Home Office. Deputy Prime Minister Nick Clegg complains of having to intervene in policy disputes with Mrs May ‘on an almost daily basis’. The political battles escalated when Lib Dem Norman Baker, who claimed MI5 covered up the death of government weapons adviser Dr David Kelly, implicated the security was made a Home Office minister by Mr Clegg in October’s reshuffle. With Labour’s poll lead over the Tories narrowing, a hung parliament looks increasingly likely in 2015. Mr Clegg is being urged to consider demanding control of one, big government instead of spreading ministers too thinly across Whitehall. A Downing Street source said: 'Theresa May is an excellent Home Secretary.'
economic guru has ’given up’ his dream of being Business Secretary was not eying Theresa May's job, as Tory MPs predicted he would be a 'complete and utter disaster' if put in charge of the country's borders. Lib Dem Vince Cable would But his relationship with Conservative George target of cutting net migration to the tens of open to the Home Office job 'because of the tensions on immigration yesterday after warning longer views as Mr Cable as a threat to his