Clegg in Sheffield: Let’s wring the necks of these wretched bankers

The Deputy Prime Minister issued the strongly-worded attack as he prepared to face party activists gathering in Sheffield for the Liberal Democrats’ spring conference.

“It’s a red rag to my bull,” he said when questioned about Government action to curb bonuses during an interview with BBC Radio Sheffield.

“I am like anybody else: you want to wring the neck of these wretched people who behaved so irresponsibly and then we are now having to bail them out.”

The Government had imposed higher taxes on banks, secured promises of higher lending and lower bonuses and was set to impose the world’s toughest pay transparency rules, he said.

Mr Clegg also urged students and others planning to demonstrate over his policies during the weekend gathering not to turn violent or attend “just to cause a ruck”.

And he defended significantly enhanced security arrangements in the city - where he is an MP - saying it was for the police to decide how to keep order around such events.

Beset by plummeting poll ratings and a humiliating by-election result, Mr Clegg has urged party members to “hold your nerve” and defended his decision to lead it into coalition with the Tories.

Conference opens today against the humiliating backdrop of sixth place in last week’s Barnsley Central by-election, with many rank-and-file members unhappy about Mr Clegg’s U-turns on issues like university tuition fees and the pace of spending cuts.

Party chiefs have decided to issue a credit card-sized list of the party’s “achievements” in influencing policy to the 3,000 activists attending in a bid to bolster support.

UK Independence Party leader Nigel Farage criticised Mr Clegg’s “ill-judged” remarks about bankers, calling him “a hypocritical moron whose privileged upbringing was paid for by the banking industry”. Mr Clegg’s father is non-executive chairman of United Trust Bank.

It was “a desperate attempt to regain popularity for the flagging Lib Dems ahead of the May elections,” Mr Farage said.

“But attacking our biggest industry when he is the deputy leader of this coalition Government is ill judged and wrong.”

Mr Clegg defended his decision to back the near-doubling of maximum student fees to an annual £9,000 when he took questions from sixth-formers in his Sheffield Hallam constituency.

The subject dominated the session but he told the concerned youngsters the proposals amounted to a “time limited” version of the graduate tax demanded by student union leaders.

“I think as people look at the details they will realise the way we’ve done this is very, very fair. It’s much, much fairer than the way we’re doing this at the moment,” he said.

Mr Clegg said he was looking forward to taking on his critics at the conference- accusing other parties of trying to bury internal dissent.

The latest YouGov survey for The Sun has put the Lib Dems on just 9%, trailing well behind their Conservative coalition partners on 34% and Labour on 45%.

“We are very open and very democratic. You do not have these North Korean-style conferences like you do in the other parties where everyone just agrees with each other and nods robotically at whatever the leader says.

“There are going to be some demonstrations outside and some debate inside and I think that is exactly right when the Liberal Democrats are in Government at a controversial time.”

Asked about security fencing erected around the city hall venue, he said: “That is up to the police. I want to give the police all they need to manage public events like this.

“I am the first to defend anyone’s right to demonstrate. I just guess I speak for many Sheffielders when I say I hope the demonstrations are peaceful.”

Insisting that he will not be blown off course by polling setbacks, he told The Independent: “We are in this for the long haul. We are going to keep our nerves. We are not going to flinch.

He played down the potential for internal splits over issues like the planned reform of the NHS, which is the subject of a critical motion at conference.

“People want to build this up into the Gunfight at the OK Corral,” said Mr Clegg. “It is not like that at all. Most people accept we want to see the NHS become more democratic. I am very much in listening mode.”