That’s essentially the message of a speech – entitled A Day of Reckoning – that David Cameron is giving in London Docklands this morning:

"In the good times, some people working in the financial services industry paid themselves vast financial rewards – salaries and bonuses beyond the comprehension of most of us. Now when it’s all gone wrong, they have been bailed out by the taxpayer. Nurses and cleaners and teachers and many millions of others, working in every part of our economy they will foot this multi-billion pound bill. Well: on behalf of the taxpayer, on behalf of the nurse on £20,000 a year, on behalf of the cleaner on the minimum wage, on behalf of working families worrying this Christmas like never before about what next year will bring I say it is fair and reasonable that those responsible are held to account for their behaviour and that we show clearly that in this country, there is not one rule for the rich and a different rule for everybody else. Fairness also means understanding that the whole financial services industry has had its name blackened – and wrongly. Over a million people work in this industry, most of whom are honest and hard working. It’s in their interests too that we make sure we root out any wrongdoing that may have happened, whoever is involved, however high or well-connected they may be."

Mr Cameron welcomed the recent commitment from the FSA to “bring more criminal prosecutions in the future”:

"The FSA and the SFO should be following up every lead, investigating every suspect transaction. And the government should be urging them on, because we need to make it one hundred percent clear: those who break the law should face prosecution."

The Conservative Party is determined to blunt the two central Labour attacks that the Conservative Party is the do-nothing party during the recession and that it is the party of the wealthy.  I’m told to expect almost daily activity for at least the next month.

Tim Montgomerie

1pm: WATCH highlights of David Cameron’s speech

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