Liberal Democrat Shadow Chancellor Vince Cable has attacked the ‘blasé attitude’ of Barclay’s investment boss, Bob Diamond following this week’s shareholder meeting that saw criticism of his high pay.

Commenting, Vince Cable said:

“Bob Diamond’s bank breaking wage packet and blasé attitude towards the credit crunch is everything the City shouldn’t be, Barclay’s shareholders have every right to be angry.

“It is entirely unacceptable for a director such as Bob Diamond to be on a wage 75 times that of the Governor of the Bank of England, while his bank is going with its begging bowl to the taxpayer.

“As billions are lost by banks due to poor investment decisions, it is managers who should be feeling the pain, not receiving mega pay packets.

“The attitude surely also once again seriously calls into question the judgement of Boris Johnson who has appointed Bob Diamond as an adviser.

“Diamond’s attitude to both taxpayer money, and the shareholders who put him in a job, makes him just about the worst possible candidate to be advising on the use of public money.”