Umunna: Cameron won’t fix crony capitalism

Shadow business secretary Chuka Umunna accuses the prime minister of hypocrisy for claiming to support "moral capitalism", then continuing to allow bonuses:

"While millions of hard-working British families are struggling to pay their heating bills and our real wealth creators are struggling to access the finance ministers promised, David Cameron has abandoned the pretence that he will tackle irresponsible capitalism.

"Having gone around lecturing other shareholders to take an active role in ensuring pay restraint in the country’s boardrooms and the City, the prime minister has failed to practice what he preaches when it comes to the government's role as principal shareholder in RBS.

"He has chosen the very day when RBS dishes out hundreds of million in bonuses to loss-making investment bankers and British Gas announces huge profits to declare a truce with vested interests."