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Clegg angry over bankers' bonuses

Deputy Prime Minister Nick Clegg has said he is angry that banks are still awarding super-sized salaries and bumper bonuses.

In his speech to the Scottish Liberal Democrat spring conference in Perth, Mr Clegg echoed the views of Mervyn King, governor of the Bank of England, who suggested that there could be a repeat of the financial crisis.

He said: "I understand why people are angry when they hear about the super-sized salaries and bumper bonuses awarded to top bankers.

"I am too. I agree with Mervyn King today that the job of making our banks safe and responsible is not yet complete."

Mr King highlighted the ongoing problems with the banking system, and said "imbalances are beginning to grow again".

Mr Clegg's anger was not only directed at the banks. In his speech he railed against Labour's "disgraceful" record on pensions, "taxpayer fleecing" MSPs and the "corrupt" first-past-the-post voting system, and his party's successes in helping to the end the "intrusive" identity card scheme and the "scandal" of child detention at Dungavel.

He said Scots were well aware of the effects of the economic crisis, which left the UK with a debt "eight times the size of the Scotland's GDP".

He added: "We have two Scottish banks - RBS and HBoS - propped up but weighed down with liabilities worth twenty-five times the size of the Scottish economy."

He called on his Scottish candidates to tell the electorate that the Lib Dems are the party that is "driving corruption out of our political system".

He added: "Tell them that it is this party - this government - that has abolished expensive and intrusive identity cards, smashed the ID database, and restored our civil liberties. And tell them also that we are the ones - this party, this government - who have ended the scandal of child detention at Dungavel."


From Belfast Telegraph