SIR Vince Cable is set to be crowned leader of the Liberal Democrats today.

The 74-year-old is the only MP to put his name forward. Nominations will close at 4pm and if, as is expected, no one else throws their hat in the ring, the MP for Twickenham will succeed Tim Farron as the party leader.

Sir Vince, who was Business Secretary in the Lib-Con Coalition Government, lost his London seat in the 2015 election but won it back in June.

It has been suggested that one of his main aims when he becomes leader will be to make the Lib Dems the second largest party in the country.

At the end of May, the Lib Dems had 101,000 members, behind the Tory Party, which last year had just 134,000 members, and behind the SNP, which recorded a record 120,000 members in 2016.

In 1970, he unsuccessfully contested Glasgow Hillhead for Labour and later became a councillor in the city.

In the 1970s, Sir Vince received a doctorate in economics at Glasgow University, where he went on to lecture in the subject. In the same decade, he was special advisor to John Smith when he was Trade Secretary and before he became Labour leader.

Mr Cable's acceptance speech is due to take place at a hotel in Westminster this afternoon.