Cameron: I won't micro-manage banks
The Prime Minister David Cameron tells Andrew Marr that he understands the public's anger over bankers' bonuses, but believes that for the financial sector to be successful it can't be micro-managed on a daily basis.
He suggests that while the Government was the main shareholder of the Royal Bank of Scotland there was a responsibility not to stifle growth by excessive interference:
'I'm determined, as a Prime Minister and as a government, er that the taxpayer gets its money back from those banks. And that means they've got to be successful banks. They've got to be good performing banks and I want to be able to sell them back into the private sector to pay the taxpayer back that they put into those banks and we won't do if we micro-manage them on a daily basis.'
He also warns Union leaders that he will not give in to their demands, even if they threatened extensive strike action, saying:
'Striking is not going to achieve anything and the trade unions need to know they're not going to be able to push anyone around by holding this strike or that strike or even a whole lot of strikes together - they can forget it.'
