The FINANCIAL — Nick Clegg will renew warnings to state-owned banks not to consider awarding "irresponsible" annual bonuses this year or face intervention by the Government. From London Stock Exchange Home Page.
His promise of "no let up" on the issue will form part of a speech designed to set out a distinct Liberal Democrat "open society" vision amid testing times for the coalition.
While he will claim some common ground with the Tories, the Deputy Prime Minister will sustain his weekend assault on his power-sharing partner's proposed tax break for marriages.
And he will let rip at eurosceptics for putting "narrow national interest" above "enlightened internationalism" – pledging the UK will "re-engage" with EU partners on a range of issues.
UK politics and economics is "distorted by unaccountable hoards of power, wealth and influence", he will say – in the media, lobbying, the City and boardrooms.
Turning on the banks, he will add: "I understand the anger that people feel at the bonuses still flowing to bankers, especially those who have been bailed out by the taxpayer. If we are serious about tackling wealth inequality, serious about responsible capitalism, serious about ensuring everyone contributes fairly to the Government's coffers, then we cannot be neutral on this issue.Mr Clegg said the Tories' proposed tax break for marriage was not only philosophically objectionable but also unlikely to influence people's decision anyway.
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