2101 Mr Clegg says there should be no bonuses for board members of banks. He adds there should be no bonuses for staff of banks making a loss and no cash bonuses at all of more than £2,500.

George Orwell once remarked that political thought, especially on the left, is a sort of masturbation fantasy in which the world of fact hardly matters. That's true, unfortunately, and it's part of the reason that our society lacks a genuine, responsible, serious left-wing movement.