23/02/2013 BBC Weekend News


23/02/2013

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Good afternoon. Britain has been Good afternoon. Britain has been

:00:25.:00:26.

Good afternoon. Britain has been stripped of its triple-A credit

:00:26.:00:29.

stripped of its triple-A credit stripped of its triple-A credit

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stripped of its triple-A credit rating for the first time in 35

:00:30.:00:30.

rating for the first time in 35 years. The international ratings

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years. The international ratings agency, Moody's, downgraded the

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agency, Moody's, downgraded the agency, Moody's, downgraded the

:00:34.:00:35.

status because it expects growth to status because it expects growth to

:00:35.:00:36.

status because it expects growth to remain sluggish for the next few

:00:36.:00:38.

remain sluggish for the next few remain sluggish for the next few

:00:38.:00:39.

years. Labour said it was a years. Labour said it was a

:00:39.:00:40.

years. Labour said it was a humiliating blow for the government,

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humiliating blow for the government, humiliating blow for the government,

:00:42.:00:43.

which showed their policies on which showed their policies on

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which showed their policies on working. But the Chancellor, George

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working. But the Chancellor, George working. But the Chancellor, George

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Osborne, said it strengthened his Osborne, said it strengthened his

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Osborne, said it strengthened his resolve to cut the budget deficit.

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resolve to cut the budget deficit. resolve to cut the budget deficit.

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resolve to cut the budget deficit. It's the change of just one letter

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It's the change of just one letter It's the change of just one letter

:00:56.:00:57.

It's the change of just one letter into a number. But it's a downgrade

:00:57.:01:00.

into a number. But it's a downgrade into a number. But it's a downgrade

:01:00.:01:01.

which George Osborne, even in 2009 which George Osborne, even in 2009

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which George Osborne, even in 2009 before he was in government, had

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before he was in government, had before he was in government, had

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before he was in government, had fought to avoid. One of the things

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fought to avoid. One of the things fought to avoid. One of the things

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fought to avoid. One of the things I'm very keen on doing is to

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I'm very keen on doing is to preserve Britain's international

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preserve Britain's international preserve Britain's international

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credit rating. It is absolutely credit rating. It is absolutely

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credit rating. It is absolutely essential we don't have the

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essential we don't have the essential we don't have the

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downgrade that hangs over the downgrade that hangs over the

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downgrade that hangs over the country. Fast-forward to 2013 and

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country. Fast-forward to 2013 and country. Fast-forward to 2013 and

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the ratings agency Moody's has the ratings agency Moody's has

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downgraded Britain's credit rating. downgraded Britain's credit rating.

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downgraded Britain's credit rating. downgraded Britain's credit rating.

:01:23.:01:24.

I think this is a stark reminder of I think this is a stark reminder of

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I think this is a stark reminder of the debt problems that Britain

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the debt problems that Britain the debt problems that Britain

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faces. And the clearest possible faces. And the clearest possible

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faces. And the clearest possible faces. And the clearest possible

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warning to anyone who thinks we can warning to anyone who thinks we can

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warning to anyone who thinks we can run away from dealing with those

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run away from dealing with those run away from dealing with those

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problems. Far from weakening our problems. Far from weakening our

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problems. Far from weakening our problems. Far from weakening our

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resolve to deal with the debt, we resolve to deal with the debt, we

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resolve to deal with the debt, we should redouble our resolve.

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should redouble our resolve. should redouble our resolve.

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reasons given for the downgrade reasons given for the downgrade

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reasons given for the downgrade include the economy taking longer

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include the economy taking longer include the economy taking longer

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to get back into shape and to get back into shape and

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to get back into shape and Britain's debts still being too

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Britain's debts still being too Britain's debts still being too

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Britain's debts still being too high. Its theory it could push up

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high. Its theory it could push up countries cost of borrowing,

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countries cost of borrowing, countries cost of borrowing,

:01:54.:01:54.

although many analysts say the although many analysts say the

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although many analysts say the financial sector had been expecting

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financial sector had been expecting financial sector had been expecting

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financial sector had been expecting it and had already factored it in.

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it and had already factored it in. it and had already factored it in.

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But politically it is embarrassing But politically it is embarrassing

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But politically it is embarrassing for the Chancellor. I always said

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for the Chancellor. I always said for the Chancellor. I always said

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to George Osborne, don't set your to George Osborne, don't set your

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to George Osborne, don't set your policy by the credit rating

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policy by the credit rating policy by the credit rating

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agencies. They've got things so agencies. They've got things so

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agencies. They've got things so agencies. They've got things so

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wrong in the past. But he said no, wrong in the past. But he said no,

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wrong in the past. But he said no, that is my number one imperative.

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that is my number one imperative. that is my number one imperative.

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that is my number one imperative. He said it would be humiliating to

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He said it would be humiliating to He said it would be humiliating to

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He said it would be humiliating to lose 888. He said if he had bigger

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lose 888. He said if he had bigger lose 888. He said if he had bigger

:02:18.:02:19.

lose 888. He said if he had bigger tax rise and spending cuts he would

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tax rise and spending cuts he would tax rise and spending cuts he would

:02:21.:02:21.

tax rise and spending cuts he would keep that rating. But he and his

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keep that rating. But he and his keep that rating. But he and his

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policy had failed. Next month policy had failed. Next month

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policy had failed. Next month George Osborne will come to

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George Osborne will come to George Osborne will come to

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Parliament to deliver his Budget. Parliament to deliver his Budget.

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Parliament to deliver his Budget. Parliament to deliver his Budget.

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He will say he's carrying on with He will say he's carrying on with

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He will say he's carrying on with the same economic plan to bring

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the same economic plan to bring the same economic plan to bring

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down the deficit. But today's down the deficit. But today's

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down the deficit. But today's downgrade gives ammunition to his

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downgrade gives ammunition to his downgrade gives ammunition to his

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opponents who say the Chancellor opponents who say the Chancellor

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opponents who say the Chancellor has got it wrong. Our business

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has got it wrong. Our business has got it wrong. Our business

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has got it wrong. Our business reported joins me now. Do you think

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reported joins me now. Do you think reported joins me now. Do you think

:02:46.:02:47.

we should be concerned by this we should be concerned by this

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we should be concerned by this we should be concerned by this

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downgrade? On the face of it, not a downgrade? On the face of it, not a

:02:50.:02:51.

downgrade? On the face of it, not a downgrade? On the face of it, not a

:02:51.:02:52.

lot is going to really change. The lot is going to really change. The

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lot is going to really change. The markets have factored this in

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markets have factored this in markets have factored this in

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already, they were ahead of the already, they were ahead of the

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already, they were ahead of the already, they were ahead of the

:02:56.:02:57.

curve when it came to their view of curve when it came to their view of

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curve when it came to their view of curve when it came to their view of

:02:59.:03:00.

the state of the UK economy. What the state of the UK economy. What

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the state of the UK economy. What the state of the UK economy. What

:03:01.:03:02.

is interesting, just to put it into is interesting, just to put it into

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is interesting, just to put it into context, there are only two

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context, there are only two context, there are only two

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context, there are only two economies in the G7 that still have

:03:05.:03:08.

economies in the G7 that still have economies in the G7 that still have

:03:08.:03:09.

the triple-A rating intact. They the triple-A rating intact. They

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the triple-A rating intact. They are Germany and Canada. Last year

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are Germany and Canada. Last year are Germany and Canada. Last year

:03:12.:03:12.

are Germany and Canada. Last year we saw that the United States and

:03:13.:03:14.

we saw that the United States and we saw that the United States and

:03:14.:03:15.

France also had their it rating France also had their it rating

:03:15.:03:16.

France also had their it rating France also had their it rating

:03:16.:03:17.

downgraded in the same way the UK downgraded in the same way the UK

:03:17.:03:18.

downgraded in the same way the UK house. You would normally expect

:03:19.:03:19.

house. You would normally expect house. You would normally expect

:03:19.:03:21.

that the cost of borrowing would that the cost of borrowing would

:03:21.:03:22.

that the cost of borrowing would rise because investors feel it's

:03:22.:03:23.

rise because investors feel it's rise because investors feel it's

:03:23.:03:24.

rise because investors feel it's more risky to lend money to those

:03:24.:03:25.

more risky to lend money to those more risky to lend money to those

:03:25.:03:26.

governments. In that case it did governments. In that case it did

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governments. In that case it did not happen. It's also likely we

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not happen. It's also likely we not happen. It's also likely we

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not happen. It's also likely we will see the same here. What this

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will see the same here. What this will see the same here. What this

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will see the same here. What this will see the same here. What this

:03:32.:03:33.

does Anna -- and a line is the lack does Anna -- and a line is the lack

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does Anna -- and a line is the lack does Anna -- and a line is the lack

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of growth in the UK economy. It's of growth in the UK economy. It's

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of growth in the UK economy. It's of growth in the UK economy. It's

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very hard to see where any growth very hard to see where any growth

:03:36.:03:38.

will come from, particularly will come from, particularly

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will come from, particularly will come from, particularly

:03:40.:03:40.

because of the eurozone. It is our because of the eurozone. It is our

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because of the eurozone. It is our biggest trading partner, yet just

:03:42.:03:43.

biggest trading partner, yet just biggest trading partner, yet just

:03:43.:03:44.

this week we heard the economy this week we heard the economy

:03:44.:03:46.

this week we heard the economy this week we heard the economy

:03:46.:03:47.

there is shrinking by 0.3 % again. there is shrinking by 0.3 % again.

:03:47.:03:48.

there is shrinking by 0.3 % again. there is shrinking by 0.3 % again.

:03:48.:03:49.

With such a bleak outlook for our With such a bleak outlook for our

:03:49.:03:50.

With such a bleak outlook for our With such a bleak outlook for our

:03:50.:03:51.

trading partner, here in the UK it trading partner, here in the UK it

:03:51.:03:52.

trading partner, here in the UK it is difficult to see whether growth

:03:52.:03:55.

is difficult to see whether growth is difficult to see whether growth

:03:55.:03:57.

is difficult to see whether growth will come from. The UKIP MEP has

:03:57.:03:58.

will come from. The UKIP MEP has will come from. The UKIP MEP has

:03:58.:03:59.

announced she is defecting to the announced she is defecting to the

:03:59.:04:00.

announced she is defecting to the Conservative Party. She said she

:04:00.:04:01.

Conservative Party. She said she Conservative Party. She said she

:04:01.:04:02.

was leaving UKIP because the party was leaving UKIP because the party

:04:02.:04:04.

was leaving UKIP because the party leader, Nigel Farage, treated any

:04:04.:04:05.

leader, Nigel Farage, treated any leader, Nigel Farage, treated any

:04:05.:04:07.

views other than his own with views other than his own with

:04:07.:04:09.

views other than his own with contempt. She also praised David

:04:09.:04:10.

contempt. She also praised David contempt. She also praised David

:04:10.:04:11.

Cameron's plans to hold a Cameron's plans to hold a

:04:11.:04:13.

referendum on EU membership. referendum on EU membership.

:04:13.:04:15.

referendum on EU membership. Michael Baros responded by calling

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Michael Baros responded by calling her an impossible woman.

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her an impossible woman. her an impossible woman.

:04:19.:04:20.

Authorities have confirmed that six Authorities have confirmed that six

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underground storage tanks are underground storage tanks are

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underground storage tanks are underground storage tanks are

:04:22.:04:24.

looking at a nuclear site in the US looking at a nuclear site in the US

:04:24.:04:25.

looking at a nuclear site in the US state of Washington. The governor

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state of Washington. The governor state of Washington. The governor

:04:28.:04:30.

they described the situation as they described the situation as

:04:30.:04:31.

they described the situation as disturbing news. But insists there

:04:31.:04:32.

disturbing news. But insists there disturbing news. But insists there

:04:32.:04:34.

disturbing news. But insists there is no risk to human health. The

:04:34.:04:35.

is no risk to human health. The is no risk to human health. The

:04:35.:04:36.

site has nearly 200 ageing site has nearly 200 ageing

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site has nearly 200 ageing containers that hold millions of

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containers that hold millions of containers that hold millions of

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litres of radioactive waste from litres of radioactive waste from

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plutonium production for nuclear plutonium production for nuclear

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plutonium production for nuclear weapons. Oscar Pistorius has spent

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weapons. Oscar Pistorius has spent weapons. Oscar Pistorius has spent

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weapons. Oscar Pistorius has spent his first full day out of custody

:04:45.:04:46.

his first full day out of custody his first full day out of custody

:04:46.:04:47.

since being granted bail. The since being granted bail. The

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Paralympian faces murder charges Paralympian faces murder charges

:04:49.:04:50.

Paralympian faces murder charges over the shooting of his girlfriend,

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over the shooting of his girlfriend, over the shooting of his girlfriend,

:04:52.:04:53.

Reeva Steenkamp, who he claims he Reeva Steenkamp, who he claims he

:04:53.:04:54.

Reeva Steenkamp, who he claims he killed by mistake in the belief

:04:54.:04:55.

killed by mistake in the belief killed by mistake in the belief

:04:55.:04:56.

killed by mistake in the belief that she was an intruder. He will

:04:56.:04:57.

that she was an intruder. He will that she was an intruder. He will

:04:57.:05:00.

that she was an intruder. He will be tried later this year. It is

:05:00.:05:01.

be tried later this year. It is be tried later this year. It is

:05:01.:05:02.

part of his bail conditions that part of his bail conditions that

:05:02.:05:03.

part of his bail conditions that Oscar Pistorius lives not in his

:05:03.:05:05.

Oscar Pistorius lives not in his Oscar Pistorius lives not in his

:05:05.:05:06.

Oscar Pistorius lives not in his own home but at his uncle's house.

:05:07.:05:08.

own home but at his uncle's house. own home but at his uncle's house.

:05:08.:05:08.

The private security guards are The private security guards are

:05:08.:05:10.

The private security guards are The private security guards are

:05:10.:05:10.

there to try to keep the media there to try to keep the media

:05:10.:05:12.

there to try to keep the media under control. There's been no sign

:05:12.:05:13.

under control. There's been no sign under control. There's been no sign

:05:13.:05:15.

of Mr Pistorius himself, but this of Mr Pistorius himself, but this

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of Mr Pistorius himself, but this morning parole officers arrived. Mr

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morning parole officers arrived. Mr morning parole officers arrived. Mr

:05:19.:05:20.

morning parole officers arrived. Mr Pistorius' bail has been set at 1

:05:20.:05:22.

Pistorius' bail has been set at 1 Pistorius' bail has been set at 1

:05:22.:05:23.

million rand, about �74,000. He's million rand, about �74,000. He's

:05:23.:05:24.

million rand, about �74,000. He's had to surrender his passport and

:05:24.:05:26.

had to surrender his passport and had to surrender his passport and

:05:26.:05:27.

any firearms. He's banned from any firearms. He's banned from

:05:27.:05:28.

any firearms. He's banned from taking any drugs or alcohol and

:05:28.:05:29.

taking any drugs or alcohol and taking any drugs or alcohol and

:05:29.:05:30.

must report to a police station must report to a police station

:05:30.:05:32.

must report to a police station twice a week. The headlines are

:05:32.:05:33.

twice a week. The headlines are twice a week. The headlines are

:05:33.:05:34.

still full of the Pistorius story still full of the Pistorius story

:05:34.:05:35.

still full of the Pistorius story still full of the Pistorius story

:05:35.:05:35.

and the nation is divided over the and the nation is divided over the

:05:35.:05:38.

and the nation is divided over the and the nation is divided over the

:05:38.:05:41.

decision to give him bail. I was so decision to give him bail. I was so

:05:41.:05:42.

decision to give him bail. I was so disappointed. This is saying to us

:05:42.:05:43.

disappointed. This is saying to us disappointed. This is saying to us

:05:44.:05:45.

disappointed. This is saying to us to say that people can just shoot

:05:45.:05:48.

to say that people can just shoot to say that people can just shoot

:05:48.:05:49.

to say that people can just shoot and be given bail. Can we hold this

:05:49.:05:52.

and be given bail. Can we hold this and be given bail. Can we hold this

:05:52.:05:52.

and be given bail. Can we hold this guy here? That's all that is being

:05:52.:05:54.

guy here? That's all that is being guy here? That's all that is being

:05:54.:05:54.

guy here? That's all that is being decided not. I don't think he is a

:05:54.:05:56.

decided not. I don't think he is a decided not. I don't think he is a

:05:56.:05:58.

flight risk. He's a national figure flight risk. He's a national figure

:05:58.:05:59.

flight risk. He's a national figure who is well-known. That's all there

:05:59.:06:01.

who is well-known. That's all there who is well-known. That's all there

:06:01.:06:02.

who is well-known. That's all there is to it. The prosecution and the

:06:02.:06:03.

is to it. The prosecution and the is to it. The prosecution and the

:06:03.:06:04.

is to it. The prosecution and the defence will now spend the next few

:06:04.:06:06.

defence will now spend the next few defence will now spend the next few

:06:06.:06:07.

months preparing their cases. Oscar months preparing their cases. Oscar

:06:07.:06:08.

months preparing their cases. Oscar Pistorius says he shot his

:06:08.:06:10.

Pistorius says he shot his girlfriend, Reeva Steenkamp, by

:06:10.:06:12.

girlfriend, Reeva Steenkamp, by girlfriend, Reeva Steenkamp, by

:06:12.:06:13.

mistake, thinking she was an mistake, thinking she was an

:06:13.:06:14.

mistake, thinking she was an intruder. The police say it was

:06:14.:06:16.

intruder. The police say it was premeditated murder. Mr Pistorius

:06:16.:06:17.

premeditated murder. Mr Pistorius premeditated murder. Mr Pistorius

:06:17.:06:20.

premeditated murder. Mr Pistorius is due back in court in June. A

:06:20.:06:21.

is due back in court in June. A is due back in court in June. A

:06:21.:06:22.

mural by the graffiti artist Banksy mural by the graffiti artist Banksy

:06:22.:06:24.

mural by the graffiti artist Banksy mural by the graffiti artist Banksy

:06:24.:06:25.

that was taken from the wall of a that was taken from the wall of a

:06:25.:06:26.

that was taken from the wall of a shop in north London could fetch

:06:26.:06:28.

shop in north London could fetch shop in north London could fetch

:06:28.:06:29.

more than �450,000 when it is more than �450,000 when it is

:06:29.:06:31.

more than �450,000 when it is auctioned today in Miami. The image

:06:31.:06:33.

auctioned today in Miami. The image auctioned today in Miami. The image

:06:33.:06:35.

of slave-labour depicts a young boy of slave-labour depicts a young boy

:06:35.:06:37.

of slave-labour depicts a young boy hunched over a sewing machine,

:06:37.:06:38.

hunched over a sewing machine, hunched over a sewing machine,

:06:38.:06:39.

making Union Jack bunting. It making Union Jack bunting. It

:06:39.:06:41.

disappeared in mysterious disappeared in mysterious

:06:41.:06:42.

circumstances. England have beaten circumstances. England have beaten

:06:42.:06:44.

circumstances. England have beaten circumstances. England have beaten

:06:44.:06:45.

New Zealand by five wickets in the New Zealand by five wickets in the

:06:45.:06:46.

third one-day international in third one-day international in

:06:46.:06:47.

third one-day international in third one-day international in

:06:47.:06:49.

Auckland, to seal a 2-1 series win. Auckland, to seal a 2-1 series win.

:06:49.:06:49.

Auckland, to seal a 2-1 series win. Stephen been led the attack,

:06:49.:06:51.

Stephen been led the attack, Stephen been led the attack,

:06:51.:06:52.

claiming three wickets for 27 runs. claiming three wickets for 27 runs.

:06:53.:06:54.

claiming three wickets for 27 runs. claiming three wickets for 27 runs.

:06:54.:06:55.

He removed both openers to set a He removed both openers to set a

:06:55.:06:57.

He removed both openers to set a trend for the match. The tourists

:06:57.:06:59.

trend for the match. The tourists trend for the match. The tourists

:06:59.:07:00.

trend for the match. The tourists dismissed the Kiwis for 185 and one

:07:00.:07:01.

dismissed the Kiwis for 185 and one dismissed the Kiwis for 185 and one

:07:01.:07:01.

dismissed the Kiwis for 185 and one that 75 balls to spare. Their first

:07:01.:07:03.

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