:00:08. > :00:11.One Lib Dem leaving the cabinet to be replaceed by another, might
:00:11. > :00:15.sound like musical chairs, here is a clue why it is much more
:00:15. > :00:19.significant, while David Cameron has been saying what a fine Energy
:00:19. > :00:28.Secretary we have lost. Obviously I want to thank him for the very good
:00:28. > :00:33.work he has done in Government Across Westminster other stories
:00:33. > :00:37.are heading back, -- Tories are holding back the tears, as Chris
:00:37. > :00:42.Huhne heads out of the office into a criminal prosecution.
:00:42. > :00:46.Opinion has always been divided over Chris Huhne, some cannot stand
:00:47. > :00:49.him, others describe their feelings as closer to hate.
:00:49. > :00:54.Banker bashing has been the game of the week, more today and more
:00:54. > :00:58.coming next week, is this a real attempt to change capitalism, or
:00:58. > :01:07.the politics distraction. We will mull over a week of lost bonus,
:01:08. > :01:13.lost Knighthoods and lost jobs. Good evening, it started with a
:01:13. > :01:23.quiet night and a car driving along the M11. Today it ended, a cabinet
:01:23. > :01:25.
:01:25. > :01:32.career. John Terry said goodbye to the England captaincy, and Fred
:01:32. > :01:38.Goodwin to his Knighthood, and Chris Huhne is no longer Energy
:01:38. > :01:45.Secretary, it is easier to replace him than the football captain.
:01:45. > :01:49.What started with a flash on a camera in 2003, has today triggered
:01:49. > :01:52.hundreds more flash bulbs. In the frame, a man fight to go clear his
:01:52. > :01:58.name and save his career -- fighting to clear his name and save
:01:58. > :02:02.his career, and his ex-wife. Both could face jail if found guilty,
:02:02. > :02:06.there are implications for the Liberal Democrats and the coalition.
:02:06. > :02:09.After spending six months considering the case, the Crown
:02:09. > :02:15.Prosecution Service took the unusual step of letting it be known
:02:15. > :02:19.last night that they would make a statement on camera at 10.00am.
:02:19. > :02:24.have concluded that there is sufficient evidence to bring
:02:24. > :02:29.criminal charges against both Mr Huhne and Miss Pryce, for
:02:29. > :02:36.perverting the course of justice. The essence of the charges is that
:02:36. > :02:40.between March and May 2003, Mr Huhne, having allegedly committed a
:02:40. > :02:46.speeding offence, falsely informed the investigating authorities that
:02:46. > :02:52.Miss Pryce was the driver of the vehicle in question, and she
:02:52. > :02:56.falsely accepted that she was the driver. It was Mr Huhne's affair
:02:56. > :03:00.with his media adviser that had led to the break up of his marriage of
:03:00. > :03:05.26 years, there followed a divorce and allegations in a newspaper from
:03:05. > :03:11.his ex-wife, that someone, in 2003, had accepted speeding points to
:03:11. > :03:15.save him from a driving ban. Today, Miss Pryce, his ex-wife, was saying
:03:15. > :03:19.nothing. I'm sorry I can't comment on anything, thank you.
:03:19. > :03:23.Facing a criminal prosecution, Chris Huhne decided he had no
:03:23. > :03:28.option but to resign from the cabinet. I'm innocent of these
:03:28. > :03:33.charges, and I intend to fight these in the courts, I'm confident
:03:33. > :03:38.a jury will agree. So as to avoid any distraction, to either my
:03:38. > :03:42.official duties or my trial defence, I am standing down and resigning as
:03:42. > :03:47.energy and climate change secretary. I will, of course, continue to
:03:47. > :03:51.serve my constituents in Eastleigh. Thank you, that's all I want to say
:03:51. > :03:55.today. Chris Huhne's departure has unDowning Streetedly changed the
:03:55. > :03:59.top table dynamic within the coalition. He seemed to almost
:03:59. > :04:04.relish getting into arguments with his Conservative called colleagues,
:04:04. > :04:08.and what's more, he let people know that's what he was doing.
:04:08. > :04:11.Now he's gone, well the Liberal Democrats could have more
:04:11. > :04:16.difficulty in showing their supporters and potential voters
:04:16. > :04:20.that they are still a distinct party. Not a wholly-owned
:04:20. > :04:24.subsidiary of the Conservatives. was someone who was going to stand
:04:24. > :04:28.up strongly on environmental issues, hugely important to the grass roots.
:04:28. > :04:32.He wasn't going to give ground. He believed the best means of
:04:32. > :04:37.negotiating in a coalition was to stand firm, and say there are some
:04:37. > :04:45.lines that cannot be crossed. What is notable about the Lib Dems on
:04:45. > :04:48.issues like Europe, and vad, on tuition fees, -- VAT and on tuition
:04:49. > :04:52.fees they have capitulated too quickly, and Chris Huhne would
:04:52. > :04:56.stand for what he believed in. Although Chris Huhne and Nick Clegg
:04:56. > :05:01.would say they were friends, they haven't always been friendly during
:05:01. > :05:06.the 2007 leadership contest, Mr Huhne turned his aggressive, take
:05:06. > :05:11.no prisoners-style of politics, on his opponents. Why have you issued
:05:11. > :05:16.a briefing document called "calamity Clegg". I haven't? This
:05:16. > :05:19.has come from your office to the Politics Show? I didn't see it.
:05:19. > :05:21.Don't you know what goes out of your office? It is impossible to
:05:21. > :05:25.check everything that goes out of the office, this is a large
:05:25. > :05:29.campaign, going right the way across the country, I can assure
:05:29. > :05:34.that hasn't had my authorisation. Chris Huhne is seen at Westminster
:05:34. > :05:40.as extremely effective politician. He was central to the coalition
:05:41. > :05:46.negotiations. Someone who, it is reported, hadn't given up on being
:05:46. > :05:51.leader himself one day. Today the man who is Liberal Democrat leader
:05:51. > :05:56.and Deputy Prime Minister, said he wished his one-time opponent a
:05:56. > :06:00.speedy return to Government. Chris Huhne is a close friend and great
:06:00. > :06:03.colleague, and who has done an outstanding job in energy and
:06:04. > :06:08.climate change. He has been a pioneer in new ground-breaking poll
:06:08. > :06:11.sits w I believe will stand the test -- policies, which I believe
:06:11. > :06:14.will stand the test of time. If he clears his name, I have made it
:06:14. > :06:17.clear to him I would like to see him back in Government in a key
:06:17. > :06:21.position. Chris Huhne's place as Secretary of
:06:21. > :06:25.State for Energy and climate change has gone to Ed Davey, an ally of Mr
:06:25. > :06:28.Clegg. The balance of power within the Liberal Democrats has shifted
:06:28. > :06:35.today. Meanwhile, Chris Huhne faces a court appearance in two weeks
:06:35. > :06:39.time, and a fight for his future, and his liberty.
:06:39. > :06:42.David Grossman is with me now, one man in a grey suit leaving the
:06:42. > :06:46.cabinet, another man in a grey suit taking his seat. A lot of people
:06:46. > :06:49.thinking it is a fuss about not very much? It is a safe bet to say
:06:49. > :06:55.President Obama isn't in the situation room receiving a briefing
:06:55. > :06:58.on who Ed Davey is, however, I do this move, this change in climate
:06:58. > :07:00.change and Energy Secretary, could have an impact on British
:07:00. > :07:04.Government policy. Chris Huhne saw it almost as a personal crusade to
:07:04. > :07:07.make sure that the Government lived up to its pledge to be the
:07:07. > :07:12.Koreanest ever. He thought Britain should lead the way, and then other
:07:12. > :07:14.nations would follow. And in that, he faced considerable opposition,
:07:15. > :07:19.not least from George Osborne, who thought that we shouldn't go any
:07:19. > :07:22.further and faster than any other country. But there was a big battle
:07:22. > :07:26.there. Why did Chris Huhne do that? Partly, no doubt, he believed it
:07:26. > :07:30.absolutely. But he also thought it was very good politics to show to
:07:30. > :07:34.the Liberal Democrat base that being in coalition had tangible
:07:34. > :07:37.benefits they cared passionately about. Will Ed Davey be as
:07:37. > :07:41.effective? We don't know. But I can tell you tonight that some
:07:41. > :07:45.Conservative MPs, who fear that the recovery will be hobbled by green
:07:45. > :07:49.taxes, are a little bit happier, and green groups are a little less
:07:49. > :07:53.happy. That is the politics within the coalition, what about within
:07:53. > :07:57.the Lib Dems themselves? When the coalition of formed, we all thought
:07:57. > :08:01.we would get lots of weekly briefings about big rows and bust-
:08:01. > :08:04.ups within the cabinet. Largely, that hasn't happened. Where it has
:08:04. > :08:08.happened, it has involved Chris Huhne. On one famous occasion he
:08:08. > :08:11.slapped down a leaflet on the cabinet table about the AV
:08:12. > :08:15.referendum and demanded to know which Conservative had authorised
:08:15. > :08:18.it. The Lib Dem base like that, they like to know that the love-in
:08:18. > :08:21.wasn't a complete love-in, that there was somebody inside the
:08:21. > :08:24.cabinet who shared their instinct, which is to pull the hair and flick
:08:24. > :08:28.the ears of the Conservatives, to fight them. Because that's what
:08:28. > :08:30.they wanted to do. It is not clear who else will be doing that vocally
:08:30. > :08:33.and visibly inside the cabinet right now.
:08:33. > :08:37.Thank you very much. The Lib Dems lost one cabinet
:08:37. > :08:41.minister right at the start of the coalition, when David Laws resigned
:08:41. > :08:49.from the Treasury over expenses claims, now in losing a second
:08:49. > :08:53.senior figure, unless the well of party talent is deep, are they in
:08:53. > :08:59.danger of losing ground in the coalition. The point made there, he
:08:59. > :09:02.won't be missed by all cabinet colleagues? David's analysis is
:09:02. > :09:06.really oversimplistic. Chris was a senior politician in our party and
:09:07. > :09:11.in the cabinet, he did a robust job. There may be people on the cabinet
:09:11. > :09:17.table, the Tory side, who weren't so keen on somebody determined to
:09:17. > :09:21.push the environmental agenda, which he was. If they think Ed
:09:21. > :09:24.Davey won't be as strong they are mistaken. So there is no
:09:24. > :09:27.difference? They have both been committed to a change of culture
:09:27. > :09:30.about how we look at energy internationally, how we deal with
:09:30. > :09:35.the risk of climate change, how we deal with our environment. Both
:09:35. > :09:39.have been jointly owning, as we all have, led by Nick, the policy,
:09:39. > :09:44.there will be equally robust determination at the cabinet table
:09:44. > :09:47.from Ed Davey as Chris Huhne. everybody found Chris Huhne to be
:09:47. > :09:51.Mr Congeniality, at least in the Conservative Party, he did stake
:09:51. > :09:59.out particular areas of difference and differenceate himself in a
:09:59. > :10:03.which Nick Clegg hasn't. I don't think so. Chris cited during the AV
:10:03. > :10:06.campaign of Chris's complaint at the cabinet, that the Tories turned
:10:06. > :10:10.on Nick and misrepresented our position. He was right to do that,
:10:10. > :10:14.the party thought he was right to do that. I seem to remember Vince
:10:14. > :10:19.Cable, on a fairly regular basis, says things that might not appeal
:10:19. > :10:25.to all the Tories about how to deal with high executive pay, rightfully
:10:25. > :10:29.so too. I remember Nick Clegg last week was clear about going further
:10:30. > :10:32.and faster about taking poorer people out of the tax, not a
:10:32. > :10:35.position adapted by George Osborne or the Prime Minister. Our team in
:10:35. > :10:39.the cabinet, they fire on all cylinders, and yes there are
:10:39. > :10:44.different positions, you know the score, we are there, as a coalition,
:10:44. > :10:47.in the national interest, clearing up the mess, sorting out the legacy
:10:47. > :10:51.left by Labour. We are different parties, Chris was a Liberal
:10:51. > :10:53.Democrat, different from Tories, and Ed Davey is likewise.
:10:53. > :11:00.mentioned Vince Cable there. Vince Cable is still in the cabinet,
:11:00. > :11:03.although he had one or two problems with one of the newspapers and his
:11:03. > :11:07.comments about Rupert Murdoch, David Laws we know about. You
:11:07. > :11:10.haven't got this endless well of talent you can draw on. You mustn't
:11:10. > :11:16.be as careless as a party in Government as you have been?
:11:16. > :11:22.have just had a parliamentary away day together, the 57 MPs, there is
:11:22. > :11:28.huge talent, that is why egg Nick was very able to -- why Nick was
:11:28. > :11:32.very able to appoint Ed, really good track record and job as a
:11:32. > :11:36.minister dealing with difficult issues like the Post Office. Others
:11:36. > :11:42.promoted, Norman Lamb going to the DTI, two women in the party
:11:42. > :11:45.promoted, one to be Nick's PPS, and the other. We have lots of talent,
:11:45. > :11:48.we are not without talent. We contribute at all levels on the
:11:48. > :11:53.coalition Government. A number of people today have been suggested
:11:53. > :11:58.that Davey difficult is a talented man, and could be -- daich daich
:11:58. > :12:05.daich is ale it lented man -- Ed Davey is a talented man and could
:12:05. > :12:09.be the leader next? There won't be a leadership election for a long
:12:09. > :12:14.time with Nick Clegg. His job is to change the policies
:12:14. > :12:17.on green issues, and remind the cabinet that we are the greenest
:12:17. > :12:21.party in Government. If it is about the green investment bank, he will
:12:21. > :12:27.carry on Chris's legacy. We wish Chris well, we hope he can clear
:12:27. > :12:34.his name soon and be back, in the meantime Ed will fight the good
:12:34. > :12:37.fight for green democracy. We have assembled the collective wisdom of
:12:37. > :12:41.Danny Finkelstein, Catherine MacLeod, who used to be an adviser
:12:41. > :12:45.to Alistair Darling, and Evan Harris, a Lib Dem MP until 2010,
:12:45. > :12:50.now a member of the party's policy committee. Was there real friction
:12:50. > :12:56.in cabinet or a lot of spin about differentiating on various issues?
:12:56. > :12:57.It is certainly true that Chris Huhne is not the most pap later
:12:57. > :13:02.Liberal Democrat among Conservatives. Liberal Democrats
:13:02. > :13:05.will see that as a good thing. He's an effective politician and big
:13:05. > :13:08.figure. At the same time, certainly at the top, and throughout the
:13:08. > :13:11.party, they will be worried that Government ministers had to resign,
:13:11. > :13:14.it doesn't make the Government look good, it is not exactly an
:13:14. > :13:18.advertisment when somebody in the cabinet is charged, or has a
:13:18. > :13:22.criminal charge, there could be a by-election, that is very
:13:22. > :13:26.disruptive if things don't go well for Chris Huhne. If they do go well,
:13:26. > :13:31.there will be a problem with having Ed Davey in the cabinet and what to
:13:31. > :13:35.do with Chris Huhne. This is a destablising moment. Nobody likes
:13:35. > :13:39.that, eventhough Chris Huhne isn't their favourite Liberal Democrat.
:13:39. > :13:42.destablising moment, and also this question of differenciation, and
:13:42. > :13:46.the things that you and people in the grass roots of the Liberal
:13:46. > :13:51.Democrats want to see? I don't disagree with what Danny just said,
:13:51. > :13:55.I do disagree with David Grossman saying the coalition is otherwise a
:13:55. > :13:59.love-in. It isn't, it is two parties who are disagreeing on many
:13:59. > :14:02.things, working together and agreeing to compromise. It is not a
:14:02. > :14:06.love in local Government when Labour and Conservatives have to
:14:06. > :14:09.work together to get stuff through a council. It is not in other
:14:09. > :14:12.European democracies. Part of the problem with understanding why
:14:12. > :14:15.Vince Cable and Chris Huhne are seen as so exceptional, is the
:14:15. > :14:19.media's problem in understanding that a coalition is people
:14:19. > :14:22.disagreeing, ending up agreeing, but arguing along the way. I think
:14:23. > :14:26.it is valid to say, that other people in the cabinet will have to
:14:26. > :14:30.do what Chris Huhne did, which was to stand up for green policies,
:14:30. > :14:33.against, for example, George Osborne. Do you expect more of that
:14:34. > :14:36.will have to happen, that there will have to be more
:14:36. > :14:40.differenciation, so the Liberal Democrats are not, as it were,
:14:40. > :14:44.swallow load up? Nick Clegg and the Liberal Democrats have made it
:14:44. > :14:47.clear they want to stress the differenciation more in the third
:14:47. > :14:50.and fourth years of the Government than in the first year. Many of us
:14:50. > :14:58.think in the first year it wasn't done enough. That is already
:14:58. > :15:01.happening. People like Ed and the cabinet will have to do that. It is
:15:01. > :15:05.not straight forward for him to do that as a new cabinet minister,
:15:05. > :15:09.there is a challenge for the rest of the cabinet ministers there.
:15:09. > :15:12.this a big deal or not? It is a big deal, for the Liberal Democrats,
:15:12. > :15:17.although I'm sure that Nick Clegg would prefer he didn't have to lose
:15:17. > :15:22.another member of the cabinet. Chris Huhne was there really in his
:15:23. > :15:28.own right, he had only been beaten by 500 votes for the leadership. He
:15:28. > :15:36.was pretty strong, he wasn't there through Nick Clegg's patronage, he
:15:36. > :15:41.earned his way to the cabinet. Ed Davey is there through Nick Clegg's
:15:41. > :15:44.patronage, and is less of a threat to Nick Clegg. It is a question of
:15:44. > :15:48.stature, Ed Davey may have the talent to gain the stature, I don't
:15:48. > :15:52.know enough of his style to know that. He doesn't have that now
:15:52. > :15:57.compared to Chris Huhne. The Liberal Democrats have definitely
:15:57. > :16:02.lost some weight. That will damage them, and has to be set against the
:16:02. > :16:05.fact that it gives Nick Clegg more of a free hand. There is no doubt
:16:05. > :16:10.that Chris Huhne put pressure on Nick Clegg to act as he might not
:16:10. > :16:13.otherwise have done. My own view, different from your's, is that the
:16:14. > :16:22.coalition works best and will work best for the Liberal Democrats,
:16:22. > :16:25.when you achieve a degree of coming together. I noi you want more
:16:25. > :16:30.differenciation -- I know you want more differenciation, I'm not sure
:16:30. > :16:39.that you will get there. I'm not sure Liberal Democrats will take
:16:39. > :16:42.your prescription for that. We will be opposing each other, we
:16:42. > :16:46.require the electorate, this happens in coalitions across the
:16:46. > :16:50.world to recognise, not only what our contribution to the coalition
:16:50. > :16:54.has been, which is strong on climate change, and fairness and so
:16:54. > :16:57.forth, tax fairness, for example, but also know which bits of the
:16:57. > :17:02.Government record were not things that the Liberal Democrats will
:17:02. > :17:11.want to do more of in a future parliament. So that does require
:17:11. > :17:16.people with -- who are slightly bowl shi to be about that. It will
:17:16. > :17:25.take time to get into the swing of it. It is turning into a love had
:17:25. > :17:28.in? It is. Not that much of a love- in, I think Ed Davey will be a very
:17:28. > :17:32.popular person for the Liberal Democrats, he has been an effective
:17:32. > :17:35.campaigner for many years, he might represent the soul of the Liberal
:17:35. > :17:38.Democrats in the cabinet, they will like that. I don't think Chris
:17:38. > :17:42.Huhne did do that, I don't think his appointment to the cabinet has
:17:42. > :17:46.necessary strengthened the cabinet. It's 9% you are on, you have to do
:17:46. > :17:51.something about that, otherwise at the next election you will have a
:17:51. > :17:55.smash. So ...I Don't think not being different, being seen as
:17:55. > :17:59.different from the Tories, or the Government as a whole is a recipe.
:17:59. > :18:02.People like the Tories, they will vote Tory, they won't vote Liberal
:18:02. > :18:05.Democrat. The left vote is not coming back. You made a decision,
:18:05. > :18:08.which was brave, and I think correct, to have a coalition with
:18:08. > :18:11.the Conservatives, but if you are a left voter, who voted Liberal
:18:11. > :18:15.Democrat for that reason, you are not going to vote for the Liberal
:18:15. > :18:19.Democrats who joined with the Conservatives in coalition. You
:18:19. > :18:23.underestimate the electorate. left is as much about civil
:18:23. > :18:26.liberties, Labour, maybe we will talk about this later, Labour on
:18:26. > :18:31.civil liberties still disappoint many people, who care about human
:18:31. > :18:34.rights, and the Human Rights Act, for example. Maybe, the left of the
:18:34. > :18:37.Liberal Democrat party will be more inclined to vote Liberal Democrat
:18:37. > :18:40.tonight than it was last night. will find out in a minute. Let's
:18:40. > :18:43.move on, while for the Government there was the excitement of a
:18:43. > :18:47.cabinet resignation and mini- reshuffle, for the opposition today
:18:47. > :18:51.there was a return to what Ed Milliband sees as a good subject
:18:51. > :18:58.for him, bad bankers, irresponsible capitalism, and the prospect of our
:18:58. > :19:03.rows about bankers' bonuss in a Commons debate on Tuesday. Mr
:19:03. > :19:08.Miliband called for one-nation banking, after the Fred Goodwin
:19:08. > :19:13.scandal this week. Are bankers' bonuses the plilgts of
:19:13. > :19:19.distraction, because it is easier to find a few scapegoats than jobs.
:19:19. > :19:23.We have this report. We are a discontented country,
:19:23. > :19:28.discontent with bankers has become the thing that unites protestors,
:19:28. > :19:33.politicians, punddilts -- pundits. Today the Labour leader tapped into
:19:33. > :19:37.this discontent a bit more. This is a call for banking to recognise,
:19:37. > :19:43.and continuing on its current path will lead to further isolation from
:19:44. > :19:53.society, greater public anger, and more years in which banking is a
:19:54. > :19:54.
:19:54. > :19:59.subject of lurid newspaper headlines. He had some radical
:19:59. > :20:01.solutions, a community bank and even an investment bank? It means a
:20:02. > :20:04.more diverse and competitive banking system, rooted in our
:20:04. > :20:08.communities, as the Government makes decisions about the disposal
:20:08. > :20:12.of some of its shares, and the changes in the banks, it needs to
:20:12. > :20:17.bear this in mind. It also means, in my view, looking at the case for
:20:17. > :20:21.a British investment bank, which will provide Government-backing for
:20:21. > :20:28.entrepeneurs, particularly small and medium-sized ones, when the
:20:28. > :20:32.market fails. Ed Milliband today invoked Disraeli, Victorian Britain,
:20:32. > :20:36.rich and poor, who hated each other and knew very little of each
:20:36. > :20:43.other's lives. But modern Britain does hate bankers, while liking
:20:43. > :20:47.Tories. U guff asked voters are bankers
:20:47. > :20:53.bonuses of �1 million, justified, unjustified for state-owned banks
:20:53. > :20:57.only, or generally unjustified. A clear 61% were against such bonuses
:20:57. > :21:01.all together, just 8% thought they were OK given global competition.
:21:01. > :21:05.There was no dramatic variation between Labour, Conservative or
:21:05. > :21:08.Liberal Democrat voters. The public simply don't like bankers. It is
:21:08. > :21:12.not a question of whether one bank is in the private sector other
:21:12. > :21:16.another bank is in the public sector. They think all bankers'
:21:16. > :21:21.bonuss are far too much. The public have simply taken against bankers
:21:21. > :21:25.as a breed. Why doesn't that translate to support over Labour?
:21:25. > :21:29.One of the striking things is despite the drama of the bankers'
:21:29. > :21:33.bonuses, despite the flatlining of the British economy, people trust
:21:33. > :21:36.the Tories more than they trust Labour on the economy. They want
:21:36. > :21:41.David Cameron and George Osborne, not Ed Milliband and Ed Balls.
:21:41. > :21:45.If bad economic news drives banker bashing, get ready for some more.
:21:45. > :21:49.The national institute, a respected forecasting group, thinks Britain's
:21:49. > :21:53.economy is set to shrink by 0.1% this year, at odds with the
:21:53. > :21:58.official forecast of 0.7% growth. The Institute for Fiscal studios
:21:58. > :22:02.says the pain is hardly started when it comes to cuts. Even by
:22:02. > :22:06.April only 6% of the planned cuts to current spending will have been
:22:06. > :22:12.made. Markets can fail, uncontrolled globalisation can
:22:12. > :22:16.slide into Monday mop liesation. was the -- Monopolisation. It was
:22:16. > :22:20.the Prime Minister who kicked off the banker bashing two weeks ago,
:22:20. > :22:24.some Conservatives think there is a limit to what it can achieve?
:22:24. > :22:28.people look for a scapegoat in a financial crisis. Though it makes
:22:28. > :22:32.us feel better it doesn't solve the underlying problems. It might be
:22:32. > :22:35.better thinking about how to get growth going again and changing the
:22:36. > :22:39.way people in the City are renumerated more broadly, rather
:22:39. > :22:42.than looking for individuals to pick on. Conveniently for the
:22:42. > :22:52.politician, slowly, quietly, the atmosphere around Westminster
:22:52. > :22:56.towards bankers is turning negative. It is clear from that, that people
:22:56. > :22:59.really don't want bankers to have bonuses period. In that sense Ed
:22:59. > :23:03.Milliband is pushing at an open- door. Why isn't he making more
:23:03. > :23:07.headway in this, why do the polls also find it is the Tories who are
:23:07. > :23:12.more trusted on this than Labour? People made up their minds about
:23:12. > :23:15.bankers and bonuses a long time ago. Nobody understands why bankers are
:23:16. > :23:19.being paid such a lot of money. Meanwhile, everybody knows there is
:23:19. > :23:26.a crisis of unemployment, I think Ed Milliband, myself, would make
:23:26. > :23:30.much greater impact if he was talking about jobs and growth, and
:23:30. > :23:33.the ills of unemployment. It is a very easy distraction for the
:23:33. > :23:37.leadership of the Labour Party, and the Tory Party. I think George
:23:37. > :23:41.Osborne and David Cameron must be delighted that the focus is on
:23:41. > :23:45.bankers and bank bonuses and not on jobs and growth. Today we have
:23:45. > :23:49.heard that in America unemployment is going down, Germany has had the
:23:49. > :23:53.lowest unemployment for 20 years, what is going wrong in Britain, why
:23:53. > :23:58.are we not asking that question every day. That is the equality
:23:58. > :24:01.agenda, the fairness and hating the bankers is easy, creating the jobs
:24:01. > :24:04.isn't happening? It is very difficult. The problem for Ed
:24:04. > :24:08.Milliband is a bit like the problem for William Hague when he started
:24:08. > :24:11.to talk about asylum and immigration. Every poll said that
:24:11. > :24:15.would work, every person who you asked said it was a big problem for
:24:15. > :24:18.emthey, and yet it didn't do anything for the -- for them, and
:24:18. > :24:22.yet it didn't do anything for the Conservative vote. Partly it is
:24:22. > :24:25.already baked into the cake, people know the Labour Party is against
:24:25. > :24:28.rich people having big salaries, they rather suspect the
:24:28. > :24:31.Conservative Party doesn't mind so much, that is already priced in. It
:24:31. > :24:37.doesn't shift votes when you concentrate on it. If I were Ed
:24:37. > :24:40.Milliband I would be concentrating on all the things not priced in,
:24:40. > :24:44.and concentrating on the issues not just we have talked about, but
:24:44. > :24:46.welfare benefits too, there he can change people's perception of
:24:47. > :24:51.Labour. He may think they are important, and indeed it is the
:24:51. > :24:54.case that Conservatives are uncomfortable on these things.
:24:55. > :24:59.Liberal Democrats be distinctive about this, we heard Nick Clegg
:24:59. > :25:07.saying we won't standby eyedly about bankers' bonuses, and there
:25:07. > :25:12.is a lot of standing eyedly by? That remains to be seen. The
:25:12. > :25:17.removal of the Knighthood and million pound bonus are popular
:25:17. > :25:20.gesture, Liberal Democrats support populus gestures when they don't
:25:20. > :25:24.hurt a number of people. But I think the opportunity for the
:25:24. > :25:30.Liberal Democrats and the Tory, if they are wise to allow it and pick
:25:30. > :25:33.it up, is getting rid, not just of bankers' knighthoods but bankers'
:25:33. > :25:38.tax havens and avoidance tricks. These things can be measured,
:25:38. > :25:43.eventhough it sounds boring, that the marginal rate paid by the
:25:43. > :25:48.richest in the country, the tax rate, is not lower than the
:25:48. > :25:52.marginal tax rate paid by Mr and Mrs average. Joofrpblgts there is a
:25:52. > :25:57.clash between thisish -- There is a clash between this issue of growth,
:25:57. > :26:01.and chaiting bankers across the country -- chasing bankers across
:26:01. > :26:04.the country for tax. I'm of the view that bankers are overpricing
:26:04. > :26:07.labour, and they are paying too much. But I'm also very worried
:26:07. > :26:11.about whether people are going to bother to do business in this
:26:11. > :26:16.country, and move their businesses to this country, if they feel that
:26:16. > :26:19.there is a mood of vindictiveness towards people in financial
:26:19. > :26:23.services. That could be a problem for Labour, could it not, you said,
:26:23. > :26:28.and most people could agree with you, jobs is the issue and growth,
:26:28. > :26:32.if it was seen to be penalising a few bankers by taking away a
:26:32. > :26:38.Knighthood and an old bonus it wouldn't matter, but if it was seen
:26:38. > :26:41.to be penalising a sector for jobs it would matter and Labour would
:26:41. > :26:45.not look good on that? There is a million jobs in financial services
:26:45. > :26:49.in this country, it is very important. Where people are Iing
:26:49. > :26:54.this about Britain sitting in France, or Hong Kong, and wherever
:26:54. > :27:00.they are sitting and saying a single man having his Knighthood
:27:01. > :27:03.striped away for what, why not a group of Knights, everybody was
:27:03. > :27:07.cupable. If we are going to jeopardise the financial services
:27:07. > :27:12.industry of this country it is very serious. I want to pursue this
:27:12. > :27:16.point, Danny made it in a slightly different way, is it not what David
:27:16. > :27:19.Miliband thought about, is preaching to your own choir, it is
:27:19. > :27:25.already priced in by the voters, which is why Ed Milliband is not
:27:25. > :27:29.making more headway in this? I did read what David Miliband had to say,
:27:29. > :27:34.I thought he was trying to settle some scores. I'm not exactly sure
:27:34. > :27:38.what he was wanting to do. With his brother? It was a conversation
:27:38. > :27:42.perhaps they could have it in private. I don't know if he was
:27:42. > :27:52.reminding us he was still there. That's not fair. It was apparently
:27:52. > :28:05.
:28:05. > :28:09.what he was saying but he was saying more than that. Tax fairness,
:28:09. > :28:19.why should it be described by the BBC as penalising a sector. I don't
:28:19. > :28:27.
:28:27. > :28:31.think people will leave the country if we say there is going to be
:28:31. > :28:34.stronger People are saying jobs will go and bankers will flee the
:28:34. > :28:37.city. That is a different argument from saying to bankers, I don't
:28:37. > :28:41.know everybody that doesn't think bankers are paid too much. Saying
:28:41. > :28:51.to bankers who have signed a contract to come and do a job to
:28:51. > :28:58.
:28:58. > :29:08.say we have changed our minds and rules mid-game we will not pay you.
:29:08. > :29:15.
:29:15. > :29:21.That is what they would say. that moment we will have to leave
:29:21. > :29:24.now. In a minute the review show, what have you got for us? Tonight I
:29:24. > :29:29.talk to Daniel Radcliffe about his big post-Harry Potter And The
:29:29. > :29:34.Chamber Of Secrtes lead in The Woman In Black. We tour the British
:29:34. > :29:38.Museum exhibition on Hajj, Roman Polanski tackles modern morality
:29:38. > :29:48.and Carnage, and the thriller set in World War I. All that coming up
:29:48. > :29:48.
:29:48. > :30:30.Apology for the loss of subtitles for 42 seconds
:30:30. > :30:36.in a moment. Before we go, tomorrow Mitt Romney tried to prove that the
:30:36. > :30:41.Democrats don't have all the best tunes? You know that song
:30:41. > :30:48.# Oh beautiful # For spacious skies