Browse content similar to 24/10/2013. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
Uh-oh. Just like any other private sector organisation they have to | :00:10. | :00:14. | |
look at how they get a grip on their pension costs. It is the biggest | :00:15. | :00:18. | |
pension fund in the country with the biggest black hole. Almost ?8 | :00:19. | :00:22. | |
billion of a shortfall. It is the scheme for university teachers. | :00:23. | :00:26. | |
Balancing the books could result in higher tuition fees. We will try to | :00:27. | :00:29. | |
find out who will end up paying the bill. The death boats that lead some | :00:30. | :00:34. | |
of the wretched of the earth to perish on the sea in sight of | :00:35. | :00:40. | |
Europe. We tell one family's story. We called Allah hu Akbar. They fired | :00:41. | :00:47. | |
at the hull of the boat and left. Water began leaking into the boat. | :00:48. | :00:54. | |
And a blow for freedom or an act of desperation, newspaper publishers | :00:55. | :01:00. | |
apply for a judicial review, a politician's efforts to set up a new | :01:01. | :01:09. | |
press regulator. This matter was shaping up to be something | :01:10. | :01:16. | |
wonderful, but then... Jeremy Clarkson might not like the Tesla | :01:17. | :01:22. | |
electric car, but does the billionare behind it care. His two | :01:23. | :01:28. | |
pet peeves are American cars and electric cars, we are an American | :01:29. | :01:33. | |
electric car, we are in the worse possible situation for someone like | :01:34. | :01:38. | |
him. The death of Anthony Caro who changed the face of British | :01:39. | :01:47. | |
sculpture. Good evening, all kinds of pension | :01:48. | :01:50. | |
funds have been in trouble in recent years, at least in part, because | :01:51. | :01:54. | |
poor stock market performance has seen bad returns on investments. But | :01:55. | :02:00. | |
the problems of the university superannuation SKEERJS or USS, | :02:01. | :02:09. | |
dwarfs the rest. It faces a -- It faces a shortfall of billions. Using | :02:10. | :02:16. | |
the private companies used it would have been ?10. 5 billion. It | :02:17. | :02:22. | |
requires a rise in tuition fees of up to a thousand pounds a year. | :02:23. | :02:40. | |
Drinks and canapes to celebrate exactly 50 years since the | :02:41. | :02:42. | |
Government accepted the recommendations of this man, Lionel | :02:43. | :02:48. | |
Robin, before his 1963 report only 5% of people went to university. | :02:49. | :02:52. | |
After it university places trebled. With that went a big expansion in | :02:53. | :02:56. | |
teaching staff, and also the cost of the pensions they were promised. The | :02:57. | :03:01. | |
university superannuation scheme is now the biggest pension fund in the | :03:02. | :03:06. | |
country, with gaping deficit. Here is what the university pension | :03:07. | :03:08. | |
scheme told its 30003,000 -- 300,000 It has just 83% of the money it | :03:09. | :03:32. | |
needs. Critics of the US S, as the | :03:33. | :03:35. | |
university scheme is known, say its managers aren't doing anything like | :03:36. | :03:39. | |
what they must do to close that black hole. There is a whole degree | :03:40. | :03:46. | |
of denial, USS is in denial about its real financial position. | :03:47. | :03:49. | |
Universities are in denial about the cost of pension promise, we have | :03:50. | :03:53. | |
seen private sector pension schemes closing to new members and existing | :03:54. | :03:57. | |
members wholesale over the last few years. USS can't stand up and say | :03:58. | :04:03. | |
they have a real problem, they have been making too small contributions | :04:04. | :04:07. | |
over the last few years. They have been running a very risky investment | :04:08. | :04:11. | |
strategy, this is where it has got us and this is what we need to do. | :04:12. | :04:15. | |
There will be reprecussions for the university sector, if we don't have | :04:16. | :04:19. | |
the reprecussions now or over the next year years, we are giving a | :04:20. | :04:23. | |
very big problem to our children. The thing about FENGSs is they span | :04:24. | :04:28. | |
deck -- pensions is they span deck cautioused you are a member from the | :04:29. | :04:34. | |
start to the day you die. Acties act trees have to make assumptions, at | :04:35. | :04:40. | |
the stroke of an actuary's pen you can gain or win millions. What the | :04:41. | :04:48. | |
actuaries know is what they will pay in future and how much money they | :04:49. | :04:52. | |
have to pay the pensions. What they have to take a guess on is what the | :04:53. | :04:56. | |
money will be worth by the time it is needed. They wave their pen and | :04:57. | :05:00. | |
assume a growth rate. It will be either be enough to fulfil their | :05:01. | :05:09. | |
promises, if not they will have a black hole. Actuaries for private | :05:10. | :05:16. | |
firms have to follow a strict formula on working out the debt, FRS | :05:17. | :05:21. | |
17, you have to assume growth based on market rate interest rates. It | :05:22. | :05:25. | |
seems to me completely wrong, where as private sector KRNGS even public | :05:26. | :05:31. | |
sector schemes have to come up with their figures on an FRS 17 basis, | :05:32. | :05:40. | |
USS doesn't do that. That figure is picked out of the air. It is the | :05:41. | :05:48. | |
actuary's magic person. He calculates the deficit at ?10. 5 | :05:49. | :05:53. | |
billion, and employers would have to throw a lot more money at the scheme | :05:54. | :06:01. | |
to fix it. There is ?5 00 million coming from the universities, it | :06:02. | :06:06. | |
needs to go up to ?1. 2 billion, the fees will have to go up by ?1,000, | :06:07. | :06:15. | |
it is a ?1 thousand each undergraduate will have to pay for | :06:16. | :06:19. | |
the next ten years. If tuition fees are forced up by that amount every | :06:20. | :06:23. | |
year, the minister who knows about it is the minister for education, | :06:24. | :06:29. | |
David Willetts, he has showed up at conference. Why don't I ask hi If | :06:30. | :06:33. | |
you use the same figures the companies have to use, the deficit | :06:34. | :06:39. | |
is ?10 billion. How do you react? I don't recognise the figure. | :06:40. | :06:42. | |
Universities are autonomous bodies, and one of their financial | :06:43. | :06:47. | |
responsibility is STRAN behind pension -- stand behind pensions. | :06:48. | :06:53. | |
This will push up tuition fees by ?1,000, would you acknowledge these | :06:54. | :06:56. | |
pressures on pensions would make tuition fees more expensive. It | :06:57. | :07:00. | |
would be wrong to expect TU accidents to bail out pension -- | :07:01. | :07:06. | |
students to bail out pensions that are much more generous than they | :07:07. | :07:12. | |
will enjoy when in work. If higher contributions are needed, how will | :07:13. | :07:15. | |
the universities recover that money? It is worrying for now and the | :07:16. | :07:19. | |
future. It would be an added cost which we would have to cover from | :07:20. | :07:25. | |
tuition fees or some other source, private philanthropy, earnings from | :07:26. | :07:29. | |
consulting or other enterprises. The man just appointed by the USS to run | :07:30. | :07:34. | |
its scheme was two months ago the man who ran the pensions regulator. | :07:35. | :07:39. | |
Is he comfortable with the size of this deficit. Let's be blunt you | :07:40. | :07:43. | |
will have to ask the employers sponsoring the scheme to put their | :07:44. | :07:46. | |
hands in their pockets? It is the normal course of deciding how to | :07:47. | :07:50. | |
fund a pension scheme. It is here for the long-term. Was that a yes? | :07:51. | :07:56. | |
We have to look at 80 years. Is that a yes? It is a normal process. It | :07:57. | :08:00. | |
was done in 2008 and 2011, we are looking at it again now. The members | :08:01. | :08:04. | |
of the scheme won't like to hear that. University staff are already | :08:05. | :08:08. | |
planning to strike next week over pay. If they are going to discuss to | :08:09. | :08:13. | |
pay more, one, we will want to know that the long-term future of the | :08:14. | :08:16. | |
fund is clearly one that's at risk. Two, we will want to make sure that | :08:17. | :08:19. | |
the employers themselves are making an equal and increased contribution | :08:20. | :08:25. | |
as well. The USS has three-quarters of its money in relatively risky | :08:26. | :08:30. | |
investment, shares, property and alternative investments like a stake | :08:31. | :08:34. | |
in Heathrow, unlike other funds who buy more safe Government bonds. The | :08:35. | :08:38. | |
hope is those investments will rise in value and close up that black | :08:39. | :08:41. | |
hole. That has been a strategy for years now. So far, at least, it | :08:42. | :08:46. | |
hasn't worked. Earlier I spoke to the chair of the | :08:47. | :08:53. | |
employers pension forum, and a pensions expert from Warwick | :08:54. | :08:57. | |
University's Institute for Employment Research, and a USS | :08:58. | :09:04. | |
pensions scheme member. I started by asking how universities ended up | :09:05. | :09:07. | |
running the biggest pension fund deficit in the country? It is not as | :09:08. | :09:11. | |
simple as that. A pension fund deficit can't just be measured on | :09:12. | :09:14. | |
one point in time. It is hugely volatile. One of the things that has | :09:15. | :09:17. | |
happened over the last couple of years, of course, is that bond | :09:18. | :09:20. | |
yields have fallen, because of quanative easing. And the fact it is | :09:21. | :09:24. | |
not the assets of the pension fund that have changed dramatically over | :09:25. | :09:28. | |
the past two years, but you have almost a day-to-day volatility in | :09:29. | :09:33. | |
the liabilities. That is true, everybody's pension fund is the | :09:34. | :09:35. | |
same. It is the worst in Britain and it is getting worse for years on | :09:36. | :09:40. | |
years. Those figures of ?7. 9 billion, at one point in time, we | :09:41. | :09:43. | |
have consulted people who say if you measured it the same way the private | :09:44. | :09:49. | |
industry did it would be ?10. 5 billion. The point is you cannot | :09:50. | :09:52. | |
measure it at a point in time, it can change from month to month and | :09:53. | :09:57. | |
go down as well as up. It is huge? It is large. What we are doing as | :09:58. | :10:01. | |
part of work as employers is to work with the USS, to work with the | :10:02. | :10:07. | |
unions in partnership to produce sustainable pensions. Are you | :10:08. | :10:11. | |
cheered up by that? No, I'm not. I find it rather ridiculous to blame | :10:12. | :10:16. | |
QE. OK it is true that QE has an impact upon bond yields. But QE also | :10:17. | :10:23. | |
has an impact upon bond prices, so any bonds that one has in one's | :10:24. | :10:27. | |
portfolio in increase in value. What do you think the problem is then? I | :10:28. | :10:34. | |
think the problem is a poor match of assets to LANLTS in general. If -- | :10:35. | :10:41. | |
LABLTHS in liabilities in general. It is a relatively mature scheme, | :10:42. | :10:47. | |
half of the members are either retired people or deferred | :10:48. | :10:51. | |
pensioners, people who are no longer attributing and probably never will | :10:52. | :10:56. | |
again. If you have those kinds of liabilities you need to match them. | :10:57. | :11:00. | |
Do you see the force of that? Not entirely. I don't agree with all of | :11:01. | :11:05. | |
it. Of course you have to match liabilities and your assets. But in | :11:06. | :11:10. | |
fact what is happening with USS is it is a scheme that has done well in | :11:11. | :11:15. | |
terms of its asset base, it actually has grown. Do you understand anybody | :11:16. | :11:18. | |
watching this will say if I'm a student or my son or daughter is a | :11:19. | :11:22. | |
student we will end up paying for it, because the fees will inevitably | :11:23. | :11:26. | |
go up, because there is a huge shortfall? That is not right at all. | :11:27. | :11:30. | |
That is not the approach we are taking. Deficits of this type have | :11:31. | :11:33. | |
to be addressed through a recovery plan, which can take, ten, 15, 20 | :11:34. | :11:40. | |
years. The covenant the USS employees have is extremely strong. | :11:41. | :11:43. | |
We can afford to manage it over a long period of time. It is about | :11:44. | :11:46. | |
constructing the right financial management plan, and more | :11:47. | :11:49. | |
importantly, it is about producing sustainable pensions that are right | :11:50. | :11:53. | |
not only for the employers but the employees. It is about working in | :11:54. | :11:56. | |
partnership with the employees to come up with a good plan. Do you | :11:57. | :12:01. | |
think it will inevitably fall on the students? Income comes to | :12:02. | :12:03. | |
universities on the basis of the number of students they have got, | :12:04. | :12:06. | |
the kind of courses that they are teaching them and on the amount of | :12:07. | :12:10. | |
research that they do and the excellence of their research. If you | :12:11. | :12:16. | |
have additional costs coming along, those additional costs, which are | :12:17. | :12:20. | |
over and above any additional costs which are to do with the fact you | :12:21. | :12:23. | |
want to improve the quality of the teaching and your facilities, all | :12:24. | :12:29. | |
those costs have got to come from somewhere. It is a bit like the | :12:30. | :12:33. | |
universities having to go along to the Government and say, I'm terribly | :12:34. | :12:38. | |
sorry but we have lost rather a lot of money because we went down to the | :12:39. | :12:42. | |
local casino and our money disappeared, can we have something | :12:43. | :12:45. | |
to match that hole. And the Government is likely to say, no. You | :12:46. | :12:49. | |
get your money under this formula for those purpose, we don't pay for | :12:50. | :12:54. | |
you to go off and engage in speculative practices. We will leave | :12:55. | :13:01. | |
it there, thank you both very much. Coming up: | :13:02. | :13:13. | |
Then MarineLePen, leader of the far right gets personal. As EU leaders | :13:14. | :13:20. | |
gathered in Brussels, the might of migrants risking their lives to | :13:21. | :13:23. | |
cross the sea is high on their agenda, the Civil War in Syria is | :13:24. | :13:28. | |
swelling numbers trying to reach EU outpost, such as Malta and Italian | :13:29. | :13:34. | |
islands. Attending the summit the President of Italy's Sicilian region | :13:35. | :13:38. | |
said the EU border management agency has failed completely to solve the | :13:39. | :13:43. | |
problem and had transformed the Mediterranean into a large cemetery. | :13:44. | :13:50. | |
Two weeks ago a boat crowded with refugees capsized after the boat was | :13:51. | :13:56. | |
riddled with boats. We spoke to a couple from Damascus who were thrown | :13:57. | :14:03. | |
into the sea. The voices are actors, and there are illustrations. | :14:04. | :14:08. | |
This is their story. I'm Palestinian, we lived in Damascus, | :14:09. | :14:19. | |
in the camp. Me, my wife, my sons, 20-year-old Mulham and ten-year-old | :14:20. | :14:23. | |
Mohammed. I was born there, I lived all my life there. Then the war | :14:24. | :14:31. | |
came. A big war. By plane they attacked us. My home was hit. I had | :14:32. | :14:39. | |
a shop, that too was damaged. Now there are no people there. No | :14:40. | :14:49. | |
people. My family set off for Lebanon. Then Egypt, and finally | :14:50. | :14:56. | |
Libya. I was given a telephone number, they wanted $1300 to take | :14:57. | :15:05. | |
every one of my family on the boat. So expensive. They told us to come | :15:06. | :15:14. | |
to a house, inside were 125 people. And one bathroom. We stayed there | :15:15. | :15:18. | |
for ten days. The conditions were very, very bad. But we are escaping | :15:19. | :15:26. | |
war, so what other choice is there. They told us it was a good boat, it | :15:27. | :15:31. | |
was not a good boat. It was old, very old. They wanted us to be | :15:32. | :15:37. | |
scared of them and not complain. They swore at us and said bad | :15:38. | :15:44. | |
things. They pushed us on. 300 adults and 100 children. After one | :15:45. | :15:52. | |
hour a boat caught up with us, they said they were Libyan police. But | :15:53. | :15:56. | |
maybe they were just militia, they told us to follow them. (Gunfire) at | :15:57. | :16:05. | |
first, they fired into the sky. Then into the water. Then they aimed at | :16:06. | :16:12. | |
the captain. The children cried, the women cried. I pushed my wife and | :16:13. | :16:19. | |
sons under me, to shield them. We called, Allah hu Akbar, Allah hu | :16:20. | :16:24. | |
Akbar. They fired at the hull of the boat and left. Water began leaking | :16:25. | :16:34. | |
into the boat. The captain told us it would be OK, I knew it wasn't | :16:35. | :16:37. | |
true. But I didn't want my wife to worry. I told her everything would | :16:38. | :16:42. | |
be OK. You have a life jacket, you will be safe. The waves were so big, | :16:43. | :16:52. | |
and the boat rocked from side to side. Then came a big wave. I saw | :16:53. | :17:00. | |
people falling into the water. My family went into the water. I could | :17:01. | :17:08. | |
not see them. Some cannot swim. One man came to me and tried to take my | :17:09. | :17:14. | |
life jacket. He pushed me down in the water. He was killing me. My | :17:15. | :17:19. | |
eldest son appeared, he pushed him away. He hit him. I can hear young | :17:20. | :17:28. | |
Mohammed, "babbab I'm here". I kissed him I took his hand. Where is | :17:29. | :17:33. | |
mamma. I told my son to go and bring her to us. He swim away through the | :17:34. | :17:38. | |
dead bodies, many dead bodies, he was swimming and crying. Swimming | :17:39. | :17:47. | |
and crying. I saw bodies floating, no movement. So many bodies. Then, | :17:48. | :17:59. | |
there is my wife. All life! She told me she never expected to survive. | :18:00. | :18:04. | |
She thought this would be the finish for her. Finally boats arrived to | :18:05. | :18:16. | |
rescue us. I'm lucky to have my family, everyone else lost someone. | :18:17. | :18:24. | |
Today my son said "I have nothing, I am empty, I have no money, no | :18:25. | :18:32. | |
clothes, nothing, no one helps us, no-one". I'm trying not to cry. The | :18:33. | :19:01. | |
story of one family trying to come to you It was said in French that | :19:02. | :19:10. | |
they would like to see an opposition member swinging from a tree that in | :19:11. | :19:14. | |
parliament. You might wonder why they are seeking an alliance with | :19:15. | :19:19. | |
UKIP in the next elections? What happened to give the National Front | :19:20. | :19:24. | |
so decisive a victory? And whatever it was, is it also now stirring | :19:25. | :19:29. | |
across France? Polite society has always regarded the party as, | :19:30. | :19:36. | |
TREEMist, racist even -- extremist, racist even, appealing only to the | :19:37. | :19:43. | |
fanatic, but the majority of the town backed them. Are they racist? | :19:44. | :19:46. | |
The mayor thinks not. A The winning candidate is a local | :19:47. | :20:03. | |
hero here now, he believes Marine Le Pen, who has replaced her father | :20:04. | :20:12. | |
Jean Marie Le Pen as leader has transformed their fortunes. | :20:13. | :20:24. | |
The light is beginning to go now, the town is tipping into evening. We | :20:25. | :20:28. | |
have spent most of the day here, we have spoken to quite a few people | :20:29. | :20:31. | |
who have told us they voted for the National Front and explained why, | :20:32. | :20:35. | |
privately, not one of them could be persuaded to go on camera. Which | :20:36. | :20:39. | |
suggests there is still a public stigma attached to it. Their reasons | :20:40. | :20:45. | |
for voting that way can be easily distilled into a powerful | :20:46. | :20:48. | |
combination of disaffection, immigration, people living on | :20:49. | :20:52. | |
benefit, the fear of crime, a national political elite in both | :20:53. | :20:55. | |
main parties that seems unresponsive to the public mood. And about power | :20:56. | :20:59. | |
in the European Union, which seems now simply unaccountable. This is | :21:00. | :21:04. | |
about people in a democracy who feel they have been disempowered. And so | :21:05. | :21:11. | |
Marine Le Pen believes her time has come. She now claims to lead a | :21:12. | :21:16. | |
party, not of the extreme right, but of patriotism, that transcends | :21:17. | :21:20. | |
left-right politics. She says she has partners growing in strength, in | :21:21. | :21:25. | |
the netherlands, Belgium, Austria, Finland, Sweden, as the time of | :21:26. | :21:28. | |
anti-EU sentiment rises everywhere. Do you expect to be the biggest | :21:29. | :21:56. | |
party in France at next year's What about the UK Independence | :21:57. | :22:34. | |
Party, UKIP, do you see them as potential allies? | :22:35. | :23:13. | |
Do you have natural allies in this movement, inside the British | :23:14. | :23:18. | |
Conservative Party as well. Are you talking to them too? | :23:19. | :23:46. | |
While her father once railed against communism, she now attacks global | :23:47. | :23:54. | |
capitalism. And the European Union. Outflanking the left, she hopes, on | :23:55. | :23:57. | |
social justice, and the right on the question of national sovereignty. | :23:58. | :24:02. | |
She believes the EU and what she sees as its vast unelected | :24:03. | :24:05. | |
bureaucracy is doomed to collapse. This is how she described Britain's | :24:06. | :24:10. | |
Katherine Ashton. The head of the EU's foreign affairs service. | :24:11. | :24:42. | |
You think Baroness Ashton's presence in her job helps your cause because | :24:43. | :24:56. | |
it makes everybody more euro-sceptic? | :24:57. | :25:07. | |
Let me ask you about immigration. That's a very powerful issue for | :25:08. | :25:14. | |
you, but to many people who oppose you, it sounds like old fashioned | :25:15. | :25:20. | |
European anti-Muslim zenophobia. But the Europe you want is a Europe | :25:21. | :25:56. | |
of national fortresses, borders, barriers. Limiting trade, limiting | :25:57. | :26:01. | |
economic activity. You want to retreat to national silos? | :26:02. | :26:31. | |
If they succeed in building this pan-European alliance, it could have | :26:32. | :27:07. | |
an immediate impact on the whole edifice of European Government. For | :27:08. | :27:10. | |
one thing this institution, the parliament, always strongly | :27:11. | :27:14. | |
pro-federalist in the past will have, for the first time in its | :27:15. | :27:19. | |
history, at its heart, a strong and coherent group dedicated to | :27:20. | :27:23. | |
dismantling much of the post-war European project. Second and more | :27:24. | :27:26. | |
decisive will be the impact that group has on Governments back home. | :27:27. | :27:30. | |
Mainstream pro-European parties will be under greater populist pressure | :27:31. | :27:34. | |
than ever before to demonstrate that they can stand up for national | :27:35. | :27:40. | |
interest against those of the European Union. | :27:41. | :27:44. | |
There was a very peculiar car launch in Britain today, it is the Tesla S, | :27:45. | :27:49. | |
electric car, which claims to be able to reach 60 miles an hour in | :27:50. | :27:54. | |
just over four seconds. Finally putting an end to the idea that | :27:55. | :27:58. | |
electric cars are basically milk floats without the power but of a | :27:59. | :28:06. | |
lawn power engine. The creator made his fortune in PayPal and other | :28:07. | :28:11. | |
ventures and is spending it on the Tesla project and sending rockets | :28:12. | :28:16. | |
into space. What we tried to achieve with the model S was to create a | :28:17. | :28:22. | |
compelling electric car, something really different from people's prior | :28:23. | :28:28. | |
experience. The last time they drove an electric car was a golf cart or | :28:29. | :28:33. | |
milk float. They are used to, their idea of an electric car is something | :28:34. | :28:38. | |
that doesn't look good, isn't fast, doesn't have high performance and | :28:39. | :28:42. | |
has low range. We wanted to break the MOULD of all of that. Produce | :28:43. | :28:45. | |
something brilliant with high acceleration, incredible handling. | :28:46. | :28:50. | |
Tonnes of capability, lots of room. And really was better than any | :28:51. | :28:54. | |
gasoline car. That is what we sought to achieve. This is the front trunk. | :28:55. | :29:03. | |
With nothing? With nothing in it. If somebody buys this car in the UK | :29:04. | :29:06. | |
now, how many places are there where you can plug it in? Anywhere there's | :29:07. | :29:13. | |
an electrical outle Anywhere, there is nothing special about the | :29:14. | :29:19. | |
electric applicators? The charger can be plugged in wherever you go, | :29:20. | :29:22. | |
if you are travelling somewhere, in a cottage, at a hotel. In addition | :29:23. | :29:28. | |
to that however we are going to be KRATH supercharge locations | :29:29. | :29:32. | |
throughout the UK. You will be able to charge anywhere at a Tesla | :29:33. | :29:37. | |
supercharger location and one of the things that we do, with these | :29:38. | :29:40. | |
supercharge locations is they are free. If you buy a Tesla you will be | :29:41. | :29:45. | |
able to travel for free anywhere in children. And it is free forever. | :29:46. | :29:51. | |
One more thing to that, we are installing solar panel at the | :29:52. | :29:54. | |
supercharger locations intended to generate more electricity in the | :29:55. | :29:58. | |
course of the year than the cars consume that charge there. So the | :29:59. | :30:03. | |
net result is you will not only be able to travel for free forever but | :30:04. | :30:08. | |
on pure sunlight. On this question of our energy bills, that is a huge | :30:09. | :30:12. | |
political topic here and now. Have we got it wrong in terms of where | :30:13. | :30:17. | |
we're sourcing our energy? Mark my words, solar will be the single | :30:18. | :30:21. | |
largest producer in the UK long-term. You may say isn't it | :30:22. | :30:24. | |
rather cloudy around here. I was going to say, have you ever been | :30:25. | :30:28. | |
outside? Yes, even though it is cloudy, you still get 80-90% of the | :30:29. | :30:32. | |
energy coming through the clouds. You don't have that bright point | :30:33. | :30:38. | |
source of a sun. Way to appreciate this perhaps is to look at the fact | :30:39. | :30:44. | |
that plants are essentially a solar-powered chemical | :30:45. | :30:49. | |
resatisfaction and the UK is a very green country. You live in | :30:50. | :30:54. | |
California and travel to San Francisco, you are interested in | :30:55. | :30:57. | |
whether it is possible to travel by a hyperloop, you go at 8 HUP MIELGS | :30:58. | :31:03. | |
an house on the ground, like a train from Los Angeles to San Francisco. | :31:04. | :31:09. | |
Do we suffer from a low-level of ambition, should we think bigger | :31:10. | :31:13. | |
than HS 2 and think about something like this? I think so. For reasons | :31:14. | :31:21. | |
beyond the objective of getting there faster. You want to do | :31:22. | :31:25. | |
projects that are inspiring and make people excited about the future. | :31:26. | :31:29. | |
Life's got to be about more than just solving problems. When I get up | :31:30. | :31:33. | |
in the morning and say yes, I'm looking forward to that thing | :31:34. | :31:37. | |
happening. I guess that was my central disappointment with the | :31:38. | :31:41. | |
California called high-speed rail. I was looking at that and think they | :31:42. | :31:44. | |
did better things in Japan 30 years ago. They have got something way | :31:45. | :31:49. | |
better in China, why are we doing this? And spending so much money on | :31:50. | :31:53. | |
it? It is going to take 20 years and by that time we will be 50 years | :31:54. | :31:57. | |
behind what they have in Japan, I mean? This just doesn't make sense. | :31:58. | :32:01. | |
That was my reaction. That was your reaction to what is happening in | :32:02. | :32:04. | |
California, we are behind California? Oh my good, really! | :32:05. | :32:08. | |
Difficult though it may be to imagine? Wow! That is brutal! Most | :32:09. | :32:19. | |
unfortunate. The other big part of his life is with his company SpaceX, | :32:20. | :32:24. | |
which is committed to improving rocket technology and even getting | :32:25. | :32:32. | |
the human race to other planets. Do you see really the future must be in | :32:33. | :32:36. | |
space for the human race, you really see this, this is not science | :32:37. | :32:43. | |
fiction this is going to be a fact? History fundamental bifucats, either | :32:44. | :32:52. | |
this, we are either a multiplanet species, or a single species waiting | :32:53. | :32:58. | |
for extinction. It is that I find more motivating, which is you are | :32:59. | :33:03. | |
going and setting up a base on Mars would be the greatest adventure | :33:04. | :33:07. | |
ever. Not everyone is a fan, back on earth Tesla sued the programme top | :33:08. | :33:12. | |
gear, after it -- top Gear after it rubbished the Tesla roadster, it | :33:13. | :33:21. | |
lost, what does he think about Jeremy Clarkson? Clarkson's show is | :33:22. | :33:24. | |
much more about entertainment than truth. Most people realised that but | :33:25. | :33:33. | |
not everyone. I have actually enjoyed a lot of his show. It is not | :33:34. | :33:37. | |
as though I hate Top Gear or anything, he can be very funny and | :33:38. | :33:45. | |
irref rent, but he -- irref rent, he has a problem with electric cars and | :33:46. | :33:51. | |
Americans. His two pet peeves are American cars and electric cars, we | :33:52. | :33:55. | |
are an American electric car, we are in the worst possible situation for | :33:56. | :33:59. | |
someone like Clarkson. Do you see this as missionary activity, you are | :34:00. | :34:06. | |
over here trying to convert Jeremy Clarkson? I don't think there will | :34:07. | :34:09. | |
be any converting of Jeremy Clarkson. That seems quite unlikely. | :34:10. | :34:20. | |
Can you swim? You al bought the James Bond Lotus? I did from Spy Who | :34:21. | :34:27. | |
Loved Me. I can see the fun in that? That is the reason. There is no | :34:28. | :34:33. | |
grand project. We're not going to mass produce you know cars that turn | :34:34. | :34:40. | |
into submarines. What I'm going to try to do, it is a low priority | :34:41. | :34:44. | |
project, I have my day jobs. We want to see if we can make it do what it | :34:45. | :34:48. | |
appears to do in the movie for real. I don't know if it will be | :34:49. | :34:51. | |
successful, but we will try. Thank you very much. Now there have been | :34:52. | :34:57. | |
two big developments on attempts to regulate newspapers and magazines | :34:58. | :35:00. | |
tonight. Some of the publishers are now applying to the High Court for a | :35:01. | :35:03. | |
judicial review of the decision by politicians to reject the | :35:04. | :35:07. | |
newspapers' ideas on a regulator, they call it IP sow, we have also | :35:08. | :35:13. | |
learned a lot more about how this new newspaper-driven regulator could | :35:14. | :35:18. | |
operate. I'm joined by my guests in a moment. This new newspaper-driven | :35:19. | :35:39. | |
regulator could operate. I'm joined by my guests in a moment. So will | :35:40. | :35:41. | |
this happen?. Leveson said there would be a regular traitor that | :35:42. | :35:45. | |
could fine, and have an arbitary service, and fundamentally it would | :35:46. | :35:49. | |
be independent of press interests, and critically politicians. However, | :35:50. | :35:54. | |
in order to stop history PREETing itself. This had all been said | :35:55. | :35:58. | |
before. He said we have had decades of this and there is a common | :35:59. | :36:03. | |
pattern. There is a scandal and outrage, a commission and agreement | :36:04. | :36:07. | |
and nothing happens. There is a crisis, commission and history | :36:08. | :36:13. | |
repeating itself. In order to stop this happening, in order to make | :36:14. | :36:17. | |
sure in five years time a regulator is up for the job. We will set up | :36:18. | :36:21. | |
another body to play a policing role, give it an occasional once | :36:22. | :36:25. | |
over to the self-regulator. This is all about how this recognition body, | :36:26. | :36:30. | |
called, is to be established. Now, David Cameron said he didn't want it | :36:31. | :36:34. | |
to be done by statute, nobody wanted statute, because statute means MPs, | :36:35. | :36:37. | |
parliament, and political interference. They came up with a | :36:38. | :36:41. | |
wheeze, which was a royal charter, it has official standing but not | :36:42. | :36:46. | |
technically a statute. The problem with royal charters is nobody really | :36:47. | :36:49. | |
knows very much about how they work, it is a medieval process and it is | :36:50. | :36:54. | |
very, very unclear. Around every corner it is producing unintended | :36:55. | :36:58. | |
consequences. So, the Government produced a cross-party charter to | :36:59. | :37:01. | |
establish the recognition body, the press didn't like it for a variety | :37:02. | :37:05. | |
of reasons, mainly that it could only be changed by politicians, by | :37:06. | :37:10. | |
two thirds majorities in both Houses of Parliament. So the press put in | :37:11. | :37:14. | |
their own royal charter, the rules of the Privy Council means you can't | :37:15. | :37:18. | |
have two, one had to be rejected. At Privy Council committee eight | :37:19. | :37:22. | |
current serving ministers rejected the press's version. What has | :37:23. | :37:24. | |
happened today is the press have said they are now going to try to | :37:25. | :37:28. | |
challenge that decision to reject their charter by the eight members | :37:29. | :37:31. | |
of the Privy Council with a judicial review. Two things, first it is not | :37:32. | :37:36. | |
even clear that it is legally possible to challenge, to judicially | :37:37. | :37:42. | |
review the Privy Council. What the press is doing here and they are | :37:43. | :37:46. | |
open about it is try to put a spanner in the works and slow down | :37:47. | :37:50. | |
the process. Judicial review slows down the process, meanwhile their | :37:51. | :37:54. | |
own self-regulator gets started, they hope with time their own | :37:55. | :37:57. | |
self-regulator will see the pressure to do more reduced. There is a | :37:58. | :38:03. | |
number of points there? I quite enjoyed that, it is quite good. The | :38:04. | :38:08. | |
main point is, David Cameron doesn't accept what you are doing, the three | :38:09. | :38:12. | |
parties don't accept what you are doing, the victims don't accept what | :38:13. | :38:15. | |
you are doing. The public according to the opinion polls don't accept | :38:16. | :38:18. | |
what you are doing. Whatever the good faith it is not acceptable? I | :38:19. | :38:21. | |
don't think that is entirely the case. If you see the various opinion | :38:22. | :38:26. | |
polls the public say on the one hand they want to make sure there is an | :38:27. | :38:29. | |
independent self-regulator with proper independence built into it. | :38:30. | :38:32. | |
The other hand they say they don't want the sticky fingers of | :38:33. | :38:36. | |
politicians in it either. In many ways it is an exercise in | :38:37. | :38:40. | |
pragmatisim, there is a moral imperative. Leveson has said create | :38:41. | :38:44. | |
a self-regulator. Leveson said there should be a back stop and something | :38:45. | :38:49. | |
to stop the circle Steve was talking about, good faith is all great for a | :38:50. | :38:53. | |
few years then the bad old days? Even the newspapers in the version | :38:54. | :38:56. | |
announced today the recognition part of that has a great deal of | :38:57. | :39:00. | |
independent built into it. The Government started talking about | :39:01. | :39:03. | |
voluntary self-regulation, the newspaper industry is saying we will | :39:04. | :39:06. | |
try to create something that is voluntary, that is tougher than what | :39:07. | :39:09. | |
went before, better than what went before and actual legal we will | :39:10. | :39:14. | |
hopefully be able to command it. This is most of what you want. It | :39:15. | :39:17. | |
will be up and running, is it really worth continuing the fight when you | :39:18. | :39:22. | |
have got virtually everything? There are several, the main points are | :39:23. | :39:28. | |
what Leveson wanted to put in place, was to have a structure that | :39:29. | :39:32. | |
couldn't be changed. Otherwise the press go back to their old trick, | :39:33. | :39:37. | |
exactly what they did in 1990. What is happening now with the press, you | :39:38. | :39:41. | |
have three very rich people living outside the UK, don't pay tax, who | :39:42. | :39:51. | |
run the Telegraph, the Mail and the Sun/Times group. Those people are | :39:52. | :39:53. | |
putting two fingers up to parliament and the public in this country. And | :39:54. | :39:56. | |
they have got no respect for democracy, they have no respect for | :39:57. | :40:00. | |
the rule of law. They are trying now to push the whole thing into the | :40:01. | :40:03. | |
long grass. They might have all the papers with them in the end. The | :40:04. | :40:09. | |
Guardian the Independent and the FT have been some what sniffy about it, | :40:10. | :40:12. | |
but there are signs they might join it. None of the papers wants what | :40:13. | :40:17. | |
you want? I don't think that is entirely right. The fundamental | :40:18. | :40:19. | |
thing for me is access to justice. At the moment unless you are a | :40:20. | :40:23. | |
millionaire you can't sue for breach of briefcy or defamation. That must | :40:24. | :40:28. | |
be wrong. You need an arbitary body. That is missing from the press | :40:29. | :40:32. | |
prososals but very much in Leveson I think you will find that despite | :40:33. | :40:35. | |
what the press are doing, there will be a regulator, it will appear and | :40:36. | :40:40. | |
the respectable press, the ones who have regard to law and rule and so | :40:41. | :40:46. | |
on, they will join it. It will happen the way he wants it is, in | :40:47. | :40:50. | |
the end and the respectable press will join? I'm counted by that, I | :40:51. | :40:56. | |
will be excluded from that. We could be positive for fraction of a | :40:57. | :41:00. | |
second, there will be a new regulator with considerable powers | :41:01. | :41:03. | |
that the previous institution the PCC didn't have. That is going to | :41:04. | :41:07. | |
happen. But your judicial review is just a way of delaying things that | :41:08. | :41:10. | |
the Government wants so you can get this up and running? The judicial | :41:11. | :41:14. | |
review is a theological point. A view that the industry holds dearly, | :41:15. | :41:19. | |
but for 300 years we have not had the politicians with the direct | :41:20. | :41:22. | |
means of interfering. We haven't got direct means, there is no direct | :41:23. | :41:25. | |
means for a politician to interfere under Leveson. You have first of all | :41:26. | :41:29. | |
a supervisory body and that supervisor is a regulator also | :41:30. | :41:33. | |
independent. Two independent bodies between you and the politicians. | :41:34. | :41:38. | |
Ultimately two thirds majority of parliament, what is the one issue | :41:39. | :41:42. | |
you can unite parliamentarians on and disdain and disagreement with | :41:43. | :41:45. | |
the press, they can influence the body. You were on the PCC when Siena | :41:46. | :41:53. | |
Miller was harassed and the McCanns, whatever the good faith the | :41:54. | :41:56. | |
regulators of the past have all failed? If I were here arguing for | :41:57. | :42:00. | |
the status quo that would be a powerful argument. In a pragmatic | :42:01. | :42:05. | |
attempt to get this morning and get something created that people can | :42:06. | :42:09. | |
rely on the industry is putting up something that could possibly work. | :42:10. | :42:16. | |
One of the most important sculptures -- sculptors of the last century has | :42:17. | :42:23. | |
died, Anthony Caro, studied engineering at Cambridge and then | :42:24. | :42:27. | |
studied as part-time assistant to Moore. He used steals, lead, wood | :42:28. | :42:39. | |
and paper. He was an inspiration for many. Anthony Gormley joins me, he | :42:40. | :42:44. | |
was an inspiration to you? It is extraordinary, in the late 50s there | :42:45. | :42:49. | |
was Anthony Caro trying to think how to engage with the body not as | :42:50. | :42:53. | |
appearance, not as a narrative figure in some kind of tableau, but | :42:54. | :42:59. | |
actually how it feels to be inside a body. And he made a series of works, | :43:00. | :43:08. | |
Man Taking His Shirt Off, Woman Waking Up. They were completely | :43:09. | :43:11. | |
revolutionly, and three years later he goes to America and he has this | :43:12. | :43:17. | |
Paul line conversion, comes back with colour and GIRDers as his | :43:18. | :43:24. | |
PROOIF primary material and -- as his primary material and liberates | :43:25. | :43:29. | |
himself from the body, he never forgets the body, and he never | :43:30. | :43:34. | |
forgets the way cullpure acts on the body of the viewer. Taking things | :43:35. | :43:39. | |
off the plinth and bringing them down literally and metaphorically to | :43:40. | :43:43. | |
our level. Does that changes obviously the way you look at t you | :43:44. | :43:47. | |
are not looking at something the way you worship it? It is no longer a | :43:48. | :43:53. | |
heroic or exemplary thing. Some how it comes to be a piece of mental | :43:54. | :43:58. | |
furniture in our world. I think he liberated, he liberated cullpure | :43:59. | :44:04. | |
into a kind of -- sculpture into a kind of freedom of making for its | :44:05. | :44:09. | |
own sake that changed it absolutely and forever. And we all owe him an | :44:10. | :44:15. | |
enormous debt. He owed a debt to Moore, he was critical of the late | :44:16. | :44:22. | |
Henry Moore. He then founded his own school at St Martins and spawned a | :44:23. | :44:27. | |
whole other generation that in a sense rejected him and started the | :44:28. | :44:35. | |
Richard Long, bare Flanagan and other concept actual schools. The | :44:36. | :44:40. | |
other things that are quite inspirational about him, he was 89, | :44:41. | :44:44. | |
the last exhibition opening in the summer in Venice, he wanted to work | :44:45. | :44:49. | |
until he was 100, he was constantly creating, he couldn't stop? He was a | :44:50. | :44:54. | |
great and permanent sort of example and inspiration that you live to | :44:55. | :45:01. | |
work, the work is itself intensely engaging and enjoyable. You can see | :45:02. | :45:06. | |
it in all of these works behind us. That sense of in a way making | :45:07. | :45:11. | |
something that didn't exist before for the sake of seeing how it felt | :45:12. | :45:20. | |
when it was made, and that idea of change, of impermanence and yet | :45:21. | :45:25. | |
making something like this fixed, that invites you to look around, | :45:26. | :45:33. | |
walk around, and some how intergreat that into your mental and feeling | :45:34. | :45:40. | |
kind of yeah extended body experience. He did another show in | :45:41. | :45:46. | |
London, Gagosian, which wasn't his gallery, called the Park Lane | :45:47. | :45:50. | |
Series, he was invited to do this amazing idea of a sequence of | :45:51. | :45:55. | |
sculptures down Park Lane in New York. That didn't happen but he made | :45:56. | :46:00. | |
them any way and he showed them in a sequence of rooms. That was | :46:01. | :46:02. | |
absolutely fantastic. That was earlier this year, it was a tour de | :46:03. | :46:07. | |
force. These extraordinary work that is for the first time he used | :46:08. | :46:15. | |
circular round bar and hung on to these onsistently horizontal bars | :46:16. | :46:20. | |
bits of old plough share. The tank of a compressor, bits of steel that | :46:21. | :46:27. | |
had come off a rolling mill and then sort of dropped on to the floor. And | :46:28. | :46:32. | |
some how he used these heavy objects as if they were music. We will leave | :46:33. | :46:38. | |
it there thank you very much. We wanted to remember Karadzic through | :46:39. | :46:42. | |
some of his work and some of his own words. I'm back tomorrow, good | :46:43. | :46:47. | |
night. I wanted them to be special enough to be sculptures, but not to | :46:48. | :46:53. | |
be stuck up there away from us, they had to have a real character, and if | :46:54. | :46:57. | |
they didn't have that they would just be decoration, bits of railway | :46:58. | :47:03. | |
equipment or something. But no, they had to carry their emotional | :47:04. | :47:08. | |
meaning. Sculpture is food for the eyes and food for the soul. And | :47:09. | :47:16. | |
these are just things that human beings do, they chance, they make | :47:17. | :47:22. | |
music, they carve little pebbles or they take little bits of clay and | :47:23. | :47:26. | |
stick them together. That is just a natural MUM thing. Animals don't do | :47:27. | :47:29. |