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Page last updated at 06:57 GMT, Saturday, 3 April 2010 07:57 UK

Mandelson slams Barclays' head

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Business Secretary Lord Mandelson has singled out the president of Barclays, Bob Diamond, as the "unacceptable face" of the banking sector in his strongest attack on the City since the start of the financial crisis.

The attack comes as the Tories claim that the prime minister has lost credibility on managing the economy after business leaders revolted over plans to raise National Insurance contributions.

Political correspondent Tim Reid outlines Lord Mandelson's comments.

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