Alan Johnson MP, Labour’s Shadow Chancellor, responding to Nick Clegg’s “warning” on bankers’ bonuses, and the news that the Government has been encouraging its MEPs to water down rules on bankers bonuses, said:
“Nick Clegg’s hot air on bankers’ bonuses is designed to rehabilitate a tarnished reputation. But he is Deputy Prime Minister in an administration that will not even apply regulations that Labour introduced requiring banks to notify the public about individual bonuses in excess of £1m.
"And today we've learnt that Lib Dem and Tory MEPs have been encouraged to push for softer European rules on bonuses.
“Another day, another broken promise from this Tory-led Government and its Lib Dem frontman."