17/07/2012

Download Subtitles

Transcript

:00:15. > :00:20.Tonight, they want to work for G4S, but they can't. Can't you see they

:00:20. > :00:27.are doing their job, they are not. Done the training and everything,

:00:27. > :00:31.and then it is a joke. There is nowhere to go for the boss. This is

:00:31. > :00:35.a humiliating shambles for the company, yes or no? I cannot

:00:35. > :00:40.disagree with you. That will be a yes then. Now we learn that not

:00:40. > :00:43.just the army, but more police are being drafted in to fill the hole.

:00:43. > :00:50.The chairman of the Police Federation is none too pleased. Is

:00:50. > :00:56.there too much security any way? Ken Livingston thinks so.

:00:56. > :01:02.More Barclays shockwaves, Mervyn King said he knew nothing about

:01:02. > :01:08.their LIBOR manipulation until two weeks ago. We informed all the

:01:08. > :01:13.relevant authorities in both the UK and the United States. This is an

:01:13. > :01:17.immune system cell killing a cancer cell. This is yielding amazing

:01:17. > :01:21.results in some cancer patients. only know that the treatment is

:01:21. > :01:26.working, but to actually see it on the screen is very, very

:01:26. > :01:36.encouraging. The science minister is here to explain why we are not

:01:36. > :01:36.

:01:36. > :01:40.throwing Government money into immunotherapy. Good evening, the

:01:40. > :01:43.chief executive G4S told MPs today that he wished he had never taken

:01:43. > :01:47.on the Olympic security contract. Nick Buckles will not be alone in

:01:47. > :01:50.that view. But it is cold comfort to his bewildered workers, and to

:01:51. > :01:54.police forces around the country who are having to plug a big black

:01:54. > :01:58.hole. Today it was revealed that nearly 400 extra police officers a

:01:58. > :02:03.day will be needed to secure Olympic venues in the West Midlands,

:02:03. > :02:13.until August 9th. But despite the shambles, Mr Buckles said G4S will

:02:13. > :02:17.still be taking its �57 million management fee from the games.

:02:17. > :02:21.There was one part of Stratford that G4S had under control today,

:02:21. > :02:25.their training centre. Hundreds of would-be security guards had turned

:02:25. > :02:30.up here today in the hope of a job. While eight miles away in

:02:30. > :02:33.Westminster, the chief executive was getting a frisking of his own

:02:33. > :02:38.from MPs. Many would take the view that the reputation of the company

:02:38. > :02:44.is now in tatters, you wouldn't agree? I think at the moment I

:02:44. > :02:48.would have to agree with you. We have had fantastic track record of

:02:48. > :02:55.service delivery in many years in many countries, but clearly this is

:02:55. > :02:59.not a good position to be in. We feel we have to make every

:02:59. > :03:04.endeavour to deliver as well as we can on this contract. It is a step

:03:04. > :03:08.backwards and a humiliating shambles? It is not where we would

:03:08. > :03:12.want to be, that is certain. It is a humiliating shambles for the

:03:12. > :03:15.company, yes or no? I can't disagree with you. Behind these

:03:15. > :03:19.green bars is where they are trying to sort out that shambles. The

:03:19. > :03:22.irony is there is no shortage of people who want to pitch in. Today

:03:22. > :03:26.people were flocking to the training centre, want to go find

:03:26. > :03:30.out when they could start, in what they describe as a "job of the

:03:30. > :03:34.lifetime", many were leaving disappointed. We didn't have to try

:03:34. > :03:39.very hard to find them. Come to see that they are doing their job. They

:03:39. > :03:44.are not. They are not? No, they are not doing their job. In what way?

:03:44. > :03:48.Because I'm supposed to be working with them. I want to find out a

:03:48. > :03:55.simple bit of information and no- one is helping me. What did you

:03:55. > :03:58.need to find out? They sent me away, I took down two guys' names, I

:03:58. > :04:02.don't want to follow it up, I want my job. I done the training and

:04:02. > :04:06.everything. It is a joke. I came down here today. What made

:04:06. > :04:12.you come down? I heard the news that they needed people, I have

:04:12. > :04:17.been applying for other jobs as well, and it is part-time position,

:04:17. > :04:24.so I will be waiting for them. they say you have a chance, or is

:04:24. > :04:30.it too late? No, they said training is going on in around about three

:04:30. > :04:33.weeks, hopefully I will get a position.

:04:33. > :04:38.This man says he was wrongly accused of missing training, which

:04:38. > :04:41.he had actually turned up for yesterday? This morning someone

:04:41. > :04:45.called me, what happened to you, you didn't come to the training

:04:45. > :04:49.yesterday, and today. I said, no, I was there yesterday, but they

:04:49. > :04:53.changed my appointment to different training, I didn't know what to do.

:04:53. > :04:57.Some workers said they wished they had never bothered signing up for

:04:57. > :05:00.the job. Nick Buckles told the Select Committee, he felt the same

:05:01. > :05:05.way. Do you regret signing the contract saying you would agree to

:05:05. > :05:10.provide these people, Mr Buckles? Clearly we regret signing the

:05:10. > :05:14.contract, now we have to get on and deliver. Are you telling the

:05:14. > :05:18.committee that real serious consideration was given that the

:05:18. > :05:22.company could deliver before that contract was signed, or was it so

:05:22. > :05:24.lucrative that you decided it was such a marvellous contract you

:05:24. > :05:31.would sign? No, careful consideration went in from the team

:05:31. > :05:35.in the UK, looking at this contract. There was a number of work streams

:05:35. > :05:38.to see if they could deliver it, it was signed later than we would have

:05:38. > :05:42.liked but we still signed the contract. It is not a question of

:05:42. > :05:45.being lucrative. As I said earlier, we did this purely because we

:05:45. > :05:48.wanted to have a successful security operation at this Olympics.

:05:48. > :05:53.It is not particularly financially lucrative for us. It was much more

:05:53. > :05:59.about, ironically, reputation and building reputation for the future.

:05:59. > :06:02.The problem is s even today staff were telling us that they turned up

:06:02. > :06:07.for work, here at the Olympic Park because their rota had changed and

:06:07. > :06:10.they weren't told. One senior member of staff, who wouldn't go on

:06:10. > :06:14.camera, described the scene here as being in complete meltdown, saying

:06:14. > :06:18.the system failed his workers, and he was so embarrassed he didn't

:06:18. > :06:23.wafrpbt to be seen in public in his green - want to be seen in public

:06:23. > :06:27.in his green uniform. There were few signs of embarrassment from his

:06:27. > :06:32.chief executive. With all this going on, are you still going to

:06:32. > :06:36.pay your management fee. Yes. Because why? You haven't managed

:06:36. > :06:41.the contract. We will have management on the ground. Even with

:06:41. > :06:47.all that happened you still want to claim the management fee? Yes.

:06:47. > :06:54.Eventually an answer came. total management fee on current

:06:54. > :06:59.budgets with our client is in the order of �57 million.

:06:59. > :07:03.Nick Buckles has admitted G4S can only really confirm personnel on a

:07:03. > :07:09.day-to-day basis. But with more reports of staff not turning up

:07:09. > :07:12.today, it looked very much like a numbers game they were losing. I'm

:07:12. > :07:18.joined by the chairman of the Police Federation, which represents

:07:18. > :07:25.officers in England and Wales. We know that 380 officers were

:07:25. > :07:28.called on today in the West Midlands to go through the night.

:07:28. > :07:33.Do the requests keep coming? They are coming from across the country,

:07:33. > :07:36.north, south, east and west. The staff just aren't turning up from

:07:36. > :07:39.G4S. Police officers are having to fill these gaps that are appearing

:07:39. > :07:43.around the country. We don't know the staff aren't turning up for

:07:43. > :07:48.anything other than scheduling, they usually want to turn up, I

:07:48. > :07:52.understand? Some appear to want to turn up, but the thing is staff

:07:52. > :07:55.aren't there to perform their functions. Clearly there is a limit

:07:55. > :07:59.to which you can go? Of course, police officers are resilient and

:07:59. > :08:05.flexible, and we have a duty to protect the public, that is what we

:08:05. > :08:09.will try to do to deal with this debacle that is taking place. But

:08:09. > :08:12.we are hugely stretched with the Olympic itself, we had a huge

:08:13. > :08:16.commitment to supply officers across the UK not just East London,

:08:16. > :08:19.but we have ordinary operational duties to continue with too, plus

:08:19. > :08:23.all the other events in the country at the same time. Can you guarantee

:08:23. > :08:27.normal levels of street staffing and specialist police work and so

:08:27. > :08:29.forth? We are going to do our absolute best. We have to focus on

:08:29. > :08:34.what is important for the country. This is national reputational issue

:08:34. > :08:36.that we have to deal with. We have to ensure the games are safe, and

:08:36. > :08:41.people can come to London and the other sites, and be secure when

:08:41. > :08:45.they go there. That is what we will do as police officers, with the

:08:45. > :08:49.resilience we show, normally in our every day axiveties. There will

:08:49. > :08:52.come a point when you can't guarantee normal day-to-day police

:08:52. > :08:56.work, if you are having to lend so many to the Olympics? We are not

:08:56. > :08:59.there yet. Officers are finding their own time much more stretched.

:08:59. > :09:03.They are having to have fewer days off, very few days at all during

:09:03. > :09:07.the Olympic period. But we are trying to manage what is before us.

:09:07. > :09:11.If you were asked for another 1,000, could you do it, and guarantee

:09:11. > :09:14.normal levels of policing on the street? We would have to do it, we

:09:14. > :09:17.have to find the numbers if they are necessary. Goodness me, this

:09:17. > :09:23.time last year you were dealing with the riots? That is a sillent

:09:23. > :09:28.point, if you look, we have lost -- salient point, if you look we have

:09:28. > :09:31.lost 7,000 officers in the last Government, and policing is a lower

:09:31. > :09:35.priority for this Government, we are less resilient than last year.

:09:35. > :09:41.You don't know the breaking point until you get to it. It is hard to

:09:41. > :09:45.say when that point will come. There will come a point where you

:09:45. > :09:48.can't provide officers to the Olympics? There is not a limitless

:09:48. > :09:51.box of police officers for the country. I speak to police officers

:09:51. > :09:56.right across the country at open meetings, they are saying already

:09:56. > :09:59.that they are feeling very stretched, and the public safety is

:09:59. > :10:04.put at risk and their own safety. The other argument would be that

:10:04. > :10:08.this, in a sense, plays into the agenda that you are promoting, that

:10:08. > :10:14.we don't have enough police officers, and we are facing

:10:14. > :10:20.cutbacks in the force with the changes of duty. The Four

:10:21. > :10:30.Musketeers crisis plays into the whole thing, -- G4S crisis plays

:10:31. > :10:33.

:10:33. > :10:43.into the hands of it. Cynics might say this suits you. The first job

:10:43. > :10:46.is people are safe, the other come later.

:10:46. > :10:51.There is stretching over in Northern Ireland, with the PSNI,

:10:51. > :10:59.for marching season? There is a possibility there.

:10:59. > :11:09.I'm joined by Ken Livingston, along with Matthew Side, who competed in

:11:09. > :11:14.the bars lone fla and Sydney -- Barcelona and Sydney Olympics, and

:11:14. > :11:18.a representative of LOCOG. Craig Oliver, what would you have

:11:18. > :11:22.done differently? -- Ken Livingston, what would you have done

:11:22. > :11:26.differently? The big mistake was take control away from the police

:11:26. > :11:30.and dump it into the Home Office. The police should have run this,

:11:30. > :11:34.they have the indepth knowledge, they could have made the decision

:11:34. > :11:38.about the augmented police. In the last two years we have had 2,000

:11:38. > :11:41.police posts cut in London, with the Olympics coming, this was

:11:41. > :11:45.madness. No commissioner would have done that, the Home Office was

:11:45. > :11:50.happy to see it. Is it right that you feel security is overegged?

:11:50. > :11:56.think there is a real problem here, both ministers want to come on to

:11:56. > :11:59.the TV and say we are doing everything to protect people, Group

:11:59. > :12:04.4 got in contact and ramping up the contract. The simple fact is you

:12:04. > :12:09.have two ways in which a terrorist can strike, you have the lone

:12:09. > :12:14.psychopath like we had at Atlanta, or the organised attack like Al-

:12:14. > :12:20.Qaeda. You don't catch Al-Qaeda by frisking people looking at their

:12:20. > :12:24.Lieutenant-General books, you do it by doubt agents and electronic

:12:24. > :12:27.surveillance. I have a horrible feeling this is about throwing

:12:27. > :12:30.money at it, because they are terrified they will come on

:12:30. > :12:35.Newsnight after a bombing and say why didn't you do more. I think

:12:35. > :12:37.they are making a miscalculation. Reputationally there is a risk, you

:12:37. > :12:42.can't be seen to be doing everything other than the utmost?

:12:42. > :12:45.You have to do the utmost, whether flowing money at a private sector

:12:45. > :12:50.organisation, with no real experience of counter terrorism is

:12:50. > :12:54.a good use of money in my opinion. You heard Nick Buckles saying he

:12:54. > :12:58.wished he hadn't gone for the contract? That is not a surprise

:12:58. > :13:02.after the Select Committee. Picking up on what Ken said, it is an

:13:02. > :13:06.extraordinarily difficult balance to strike, these global sporting

:13:06. > :13:09.events are the perfect platform for terrorists to secure publicity for

:13:09. > :13:12.their causes. We have seen that in football, we have seen it in

:13:12. > :13:15.cricket, we have seen it at the previous Olympic Games. On the

:13:15. > :13:20.other hand, this is supposed to be a celebration of human endeavour,

:13:20. > :13:24.and the human spirit. At my first Olympics in Barcelona, it was truly

:13:24. > :13:28.terrifying to see the apparatus that surrounded the venues. The X-

:13:28. > :13:34.ray machines you had to go through, the checking of the bags. It has to

:13:34. > :13:38.be the same for journalists and individuals. I agree with Ken, the

:13:38. > :13:43.downsize to risk-averse politicians is considerable, they may have jofr

:13:43. > :13:47.egged the pudding. On the simple point of the management see --

:13:47. > :13:51.Overegged the pudding. On the simple point of the management fee,

:13:51. > :13:56.Nick Buckles was clear, that the management fee will be taken by G4S.

:13:56. > :14:01.Is that correct, even if they are contractually allowed it, is it

:14:01. > :14:04.correct that they take it if their security operation is a fiasco?

:14:04. > :14:08.is not speculation to say it is a fiasco, it is already there. In

:14:08. > :14:12.terms of should they take it? No, I don't think they should. However,

:14:12. > :14:15.this should come as no surprise to anybody, this is another dot on a

:14:15. > :14:19.trend line of large organisations making massive promises that they

:14:19. > :14:23.either cannot or did not have any intention of fulfiling. So it

:14:23. > :14:27.shouldn't be a surprise that at the end of this, when there has been a

:14:27. > :14:30.massive meltdown, a sequence of mistakes that has led to other

:14:30. > :14:35.people's lives being disrupted, whether it is soldiers returning

:14:35. > :14:40.from active warzones, now being reactivated domestically, or

:14:40. > :14:43.policemen now working double and overtime, to make up for those

:14:43. > :14:45.mistakes. Something in there should spark a conscience in these

:14:46. > :14:49.organisations, but we have seen, there is no trend of that happening.

:14:49. > :14:55.It is not a great start, and just putting that point that Ken made,

:14:55. > :14:57.that actually the Met should have been doing this, and not a private

:14:57. > :15:02.organisation, that is very much your political view, that it should

:15:02. > :15:07.be the police service that provides Security Services? You could have

:15:07. > :15:13.given the police half this money, they would have done a damn sight

:15:13. > :15:16.better job than G4S. Let's put it in perspective, the �300 million we

:15:16. > :15:19.are talking about, if you want to put the figure on the new recruits

:15:20. > :15:22.coming into the service, you could have employed 15,000 police

:15:22. > :15:26.officers for a year. That is the sort of service you would have got,

:15:26. > :15:30.not a few thousand guards at the Olympics.

:15:30. > :15:35.In terms of how the Olympics will proceed, you talk about being

:15:35. > :15:39.shocked at Barcelona looking at the apparatus of security. But the

:15:39. > :15:43.athletes themselves will be so focused and honed on this, that

:15:43. > :15:47.what is happening for people trying to get to the games will not be in

:15:47. > :15:50.their peripheral vision even? could almost describe the

:15:50. > :15:54.distinctive psychology of the sports person is to have tunnel

:15:54. > :15:58.vision, and to focus on only those variables that are controllable.

:15:58. > :16:04.Security is not one of those things. If there was a direct and credible

:16:04. > :16:08.threat, as there was, for example, in the World Badminton Championship,

:16:08. > :16:12.it would register, and certain athletes flew home from India.

:16:12. > :16:15.Until that happens they will not be concerned at all. It will barely

:16:15. > :16:17.register that certain state employees are taking over from

:16:17. > :16:21.private sector employees to protect their security. I think something

:16:21. > :16:25.we have to point out as well is, when I spoke to Steve Redgrave

:16:25. > :16:28.about his five Olympics that he went to, he said he was surprised

:16:28. > :16:32.how much they grew during that time, the number of people involved both

:16:32. > :16:35.with athletes and also the press and media who were there as well.

:16:35. > :16:39.The whole focus of the world is on London.

:16:39. > :16:45.Let's say the Olympics can grow a bit more. Today it has been

:16:45. > :16:49.announced that almost half the tickets for football, 1.1 million

:16:49. > :16:53.are not sold, and other non- football tickets. What,

:16:53. > :16:56.realistically do you do with them? I'm not surprised that football

:16:56. > :17:00.tickets have not sold. Because the British footballing public is

:17:00. > :17:04.sophisticated. They understand that the Olympic Games is not the

:17:04. > :17:07.pinnacle of the football calendar. What would you do with them, and

:17:07. > :17:10.the non-football ones. Sebastian Coe says there is ten days until

:17:10. > :17:16.the games start. You don't want to be left with 250,000 non-football

:17:16. > :17:19.tickets, do you? No, I don't think you do. The fact is, I'm sure that

:17:20. > :17:24.there is plenty of logistical things being put in place. I have

:17:24. > :17:27.heard about top teirs of arenas being blocked off and such like.

:17:27. > :17:30.Personally I think there is a legacy opportunity here. There is

:17:30. > :17:34.an opportunity for people who have not, and I'm talking about young

:17:34. > :17:36.people, people from disenfranchised communities, who have not had an

:17:36. > :17:41.opportunity. There is an opportunity here to bring them into

:17:41. > :17:44.the fold of the Olympic Games. Perhaps not on the site, but at

:17:44. > :17:48.these regional venues, there is a real opportunity there. There is a

:17:48. > :17:52.lot of people on the site who don't have tickets for a particular event.

:17:52. > :17:55.When I was mayor I talked to Sebastian Coe, I said look, he was

:17:55. > :17:59.of the same opinion, if people aren't turning up, or there is

:17:59. > :18:03.empty seat, form a queue, let people just come in and see it.

:18:03. > :18:06.of the things we were told by the Government in the police service

:18:06. > :18:10.and elsewhere in the public sector, is we can learn from the private

:18:10. > :18:13.sector, this is a lesson we have learned a very salient lesson, and

:18:13. > :18:18.one the Government should learn about safety and security. On the

:18:18. > :18:22.wider context, is once Team GB starts winning gold medal, these

:18:22. > :18:27.stories over ticketing problems and over security will pale, even over

:18:27. > :18:36.security, will pale. The fundamental issue of security

:18:36. > :18:40.will remain. Thank you very much. Of course while the head of G4S was

:18:40. > :18:42.being grilled by one parliamentary committee, another had in front of

:18:42. > :18:48.it the Governor of the Bank of England, Mervyn King. The Treasury

:18:48. > :18:51.Select Committee gave him no easier ride. Under repeated questioning,

:18:51. > :18:55.certificate Mervyn insisted the first he knew about the

:18:55. > :18:58.manipulation of LIBOR was two weeks ago, and the US authorities hadn't

:18:58. > :19:06.shown him any evidence of wrongdoing when they raised

:19:06. > :19:13.concerns in 2008. At a Senate hearing across the pond, they said

:19:13. > :19:18.the Bank of England had been told of LIBOR issues earlier that year.

:19:18. > :19:24.This LIBOR banking scandal is increasingly resembling a Mexican

:19:24. > :19:29.shootout, except, unlike spaghetti westerns, the goodies are shooting

:19:29. > :19:35.each other. Bob Diamond was gunned down last week, and the deputy,

:19:35. > :19:39.Jerry Del Missier, bit the bullet. Ironically the Barclays' chairman,

:19:39. > :19:44.Marcus Agius, was fatally shot, only to rise from the dead, for now

:19:44. > :19:50.at least. With the main people out of the head the Sheriffs are aiming

:19:50. > :19:55.for each other. They want to know why Bob Diamond

:19:55. > :19:58.was forced out. You were handing the chairman of Barclays a resolver

:19:58. > :20:01.and you were telling him to go and shoot his chief executive?

:20:01. > :20:06.thought the most likely result would be that Bob Diamond would

:20:06. > :20:11.resign. In fact what he did, is he did take the resolver and he

:20:11. > :20:15.decided to shoot himself? Yes, and as I said last night, I think that

:20:15. > :20:24.was an honourable thing to do, I think Mr Agius thought it was the

:20:24. > :20:26.right thing to do, it was not what I was expecting him to do.

:20:26. > :20:31.But while the Bank of England governor, Mervyn King, didn't like

:20:31. > :20:35.using weapons, he was sticking to his guns on circumstances of Mr

:20:35. > :20:39.Diamond's departure, after the LIBOR scandal had broken cover.

:20:40. > :20:44.don't like these firearms analogies, and they are false. The question

:20:44. > :20:48.that was left absolutely with them, I made it very clear, I finished

:20:48. > :20:52.the meeting by saying, I would like you to make clear to the board,

:20:52. > :20:55.that the regulators have expressed these concerns, and the board as a

:20:55. > :20:58.whole needs to know them. They are very concerned and have lost

:20:58. > :21:01.confidence in the executive management. I did not know what the

:21:01. > :21:04.outcome of that meeting would be. It was left to them to discuss it

:21:04. > :21:08.with their board. But when it came to when the

:21:08. > :21:11.governor first knew that LIBOR had been systematically rigged.

:21:11. > :21:15.first I knew was any alleged wrongdoing was when the reports

:21:15. > :21:19.came out two weeks ago. That seemed to clash markedly with a different

:21:19. > :21:28.Sheriff, who was giving evidence to a different set of elected

:21:28. > :21:35.officials. Carl Bernstein said his team had been tipped off about --

:21:35. > :21:38.Mr Bernanke said he had known about 2008. It was tipped off about it

:21:38. > :21:43.when it received information about LIBOR submissions, a phone call in

:21:43. > :21:49.2008, in which a trader in Barclays New York told an employee of the

:21:49. > :21:55.Federal Reserve that he thought that Barclays was under --

:21:55. > :22:00.underreporting its rate. The reserve communicated with the FSA

:22:00. > :22:04.and Bank of England in England. The Governor of the Bank of England

:22:04. > :22:07.concedes he was aware with problems in the rate setting four years ago.

:22:07. > :22:12.He denies he knew of any willful corruption of the rate until a

:22:12. > :22:18.month ago, when all the rest of us were made aware of it. The problem

:22:18. > :22:22.for the governor is, at the very least, he looks niave for not, at

:22:22. > :22:27.least, expecting fraud four years ago, when the governor from across

:22:27. > :22:31.the water was tipping him off. we look at a famous court case

:22:31. > :22:34.coming up again and again, and getting let off by the same judge

:22:34. > :22:37.again and again, would you not question the judge remaining in

:22:37. > :22:41.office. Should there not be questions, given the testimony we

:22:41. > :22:45.have seen by the FSA and the Bank of England, that something just

:22:45. > :22:52.does not stack up. The regulation has not worked. The system has

:22:52. > :22:55.clearly failed, and something needs to be done, and it needs to be done

:22:56. > :23:01.now. When you see the regulation and action in the US, things seem

:23:01. > :23:05.to happen and quickly. We saw another example of that today, yet

:23:05. > :23:11.another British bank accused of willfuling ignoring the rules for

:23:11. > :23:14.gain. HSBC was in the dock, for aiding America's enemies, by

:23:14. > :23:20.allowing ill gotten gains fundamental through their accounts.

:23:20. > :23:26.At HSBC we uncovered troubling examples in which weak system may

:23:26. > :23:29.have allowed criminal or terror funds pass through. The ent the

:23:29. > :23:36.regulatory entities have concluded that because of the volume of money,

:23:36. > :23:39.it probably came from the proceeds of ill gotten drug deeds. They were

:23:40. > :23:44.coached on how to get the funds through the US without information.

:23:44. > :23:51.Unlike the man at Barclays, the man responsible from HSBC fell quickly

:23:51. > :23:54.on his sword. As I have thought about the transmission of the bank,

:23:54. > :23:57.I recommended it was time for me and the bank for someone to head as

:23:57. > :24:01.head of group compliance. I have agreed to work with the senior

:24:01. > :24:06.management towards an orderly transition of this important role.

:24:06. > :24:10.Right now there are eight separate investigations on both sides of the

:24:10. > :24:16.Atlantic, either suspected fraud or illegal banking activety. So many

:24:16. > :24:20.it will appear like the bolt on the stable door has been polished, long

:24:20. > :24:23.after the stallion has run off into the sunset.

:24:23. > :24:27.Brilliant at ideas, rubbish at making money out of them. For years

:24:27. > :24:32.Britain has tried to shake off that image, but the financial strictures

:24:33. > :24:35.of the last couple of years have made the problem worse, just as

:24:36. > :24:40.fashioning a knowledge-based economy is paramount. In cancer

:24:40. > :24:44.therapy that is acute. One of the most exciting new treatments,

:24:44. > :24:48.immunotherapy, is beginning to show promise, just as funding for

:24:48. > :24:54.crucial research is drying up. Philanthropy has come to the rescue,

:24:54. > :24:58.with a massive donation of �20 million. Are such acts the way

:24:58. > :25:02.ahead. One of the beneficiaries of the funds and the science minister

:25:02. > :25:09.will be with us, but first this. Most of us know someone who has

:25:09. > :25:13.been there. Waiting, to see if it is cancer.

:25:13. > :25:20.Waiting to see if the cancer is gone. Waiting to see if it has come

:25:20. > :25:24.back. Even the best treatments can buy only a few months of extra time.

:25:24. > :25:34.Now, scientists think one approach could lead us to our best hope of a

:25:34. > :25:38.

:25:38. > :25:44.cure. But the money, to make that leap, is drying up. Ben Perdriau

:25:44. > :25:49.and his wife have thrown in from Austrailia he was diagnosed with

:25:49. > :25:53.melanoma, there was news last year it spread to the brain. His body

:25:53. > :25:57.has shown resistance to conventional drugs. Two or three

:25:57. > :26:01.hours after the treatment you get a temperature, 39-40, you start to

:26:01. > :26:07.shiver and shake. He's about to start a new approach, one that

:26:07. > :26:11.enlists the power of his own immune system to fight the cancer. He's

:26:11. > :26:19.only the third person to try this pioneering treatment in the UK.

:26:19. > :26:23.goal is to look for something with a more promise and durable response,

:26:23. > :26:29.hopefully in a complete response that can last for several years, if

:26:29. > :26:35.not indefinitely. So, the therapy that's being developed and been

:26:35. > :26:42.administered here is something that does hold that promise. So I'm here

:26:42. > :26:48.putting my hand up for it. This is a melanoma cell, being

:26:48. > :26:51.attacked by two killer T-cells. Killer T-cells are in the body's

:26:52. > :26:55.frontline of immune defence, scientists want to use their power

:26:55. > :26:59.to fight cancer. They have already found they can do this by

:26:59. > :27:03.stimulating their production with drugs. Now, they are working on a

:27:03. > :27:09.new approach. Taking killer T-cells out of the patient, and growing

:27:09. > :27:16.more of them. Creating an attacking army that can be safely reinjected.

:27:16. > :27:22.This whole approach is called immunotherapy.

:27:22. > :27:27.Tonight there is some good news to report in the fight against cancer.

:27:27. > :27:32.An experimental treatment... America last year, a team in the

:27:32. > :27:39.university of Pennsylvania reported a major breakthrough in

:27:39. > :27:44.immunotherapy. I am Full health with no cancer. There was dramatic

:27:44. > :27:48.improvemented in three leukaemia patients, two were in full

:27:48. > :27:55.remission within the year. News greeted with excitement throughout

:27:55. > :28:00.the world. Here in the UK there have been simply dramatic results.

:28:00. > :28:05.Stan was diagnosed with gastric cancer in 2004 chemotherapy reduced

:28:05. > :28:08.the size of the tumour, but it had grown again two years later.

:28:08. > :28:13.Professor Hawkins of the Christie Hospital in man chest, began

:28:13. > :28:19.treating him five years ago, - Manchester, began treating him five

:28:19. > :28:23.years ago with a drug taken out of his own immune system, a drug that

:28:23. > :28:27.shows remarkable promise. This is the scan from five years ago, that

:28:27. > :28:32.is the tumour in the liver there, this is the one a few weeks ago.

:28:32. > :28:38.Now we can hardly see, hardly anything abnormal there. Sustained

:28:38. > :28:41.for a long period of time. Very encouraging. This is extremely

:28:41. > :28:48.encouraging. It is quite remarkable as a response, there is no doubt it

:28:48. > :28:53.is due to the effects of T-cells in his body. I think what it shows us

:28:53. > :28:59.is if we get this type of T-cells right we should be able to get that

:28:59. > :29:04.on a reproducable, probably not in every patient, but in a high

:29:04. > :29:08.proportion of patients I think we do need to do more trials to test

:29:08. > :29:14.that, and probably to improve the process further.

:29:14. > :29:19.How do you feel after seeing Professor Hawkins today? Very good,

:29:19. > :29:25.actually. Very good. It was enlightning to see the cells, and

:29:25. > :29:30.for him to explain, the way he did. It has given me bait of a boost,

:29:30. > :29:33.really. I know now -- me a bit of a boost. I now know, I have always

:29:33. > :29:39.known the treatment is working, but to actually see it on the screen is

:29:39. > :29:45.very, very encouraging. His tumour hasn't gone, but Stan is now in

:29:45. > :29:52.long-term remission. Ben's on his way to undergo the

:29:52. > :29:56.first part of his treatment. This goes one step beyond Stan's. He's

:29:56. > :30:01.having a melanoma tumour on his shoulder removed, the team will

:30:01. > :30:07.search inside the tumour itself for killer T-cells, tell tale signs of

:30:07. > :30:12.Ben's body fighting back. The idea is to multiply up these cells

:30:12. > :30:15.outside his body, then reinject them to do their job. These new

:30:15. > :30:20.immunotherapies over the last couple of years, have given us

:30:20. > :30:23.great cause for excitement, especially the patients with more

:30:23. > :30:27.advanced diseases. The options for them are some what limited. Some of

:30:27. > :30:31.the effects we have been seeing with these new therapies have been

:30:31. > :30:36.really quite encouraging, I'm sure they will only get better over the

:30:36. > :30:41.course of the next few years. is one of the UK's leading experts

:30:41. > :30:46.in clinical immunology, his ground- breaking work on HIV helped uncover

:30:46. > :30:52.important clues to the way the immune system works. He has been

:30:53. > :30:58.applying those clues to the fight against cancer. One vital clue was

:30:58. > :31:04.that tumours themselves cleverly dampen down our immune systems.

:31:04. > :31:07.we can reconstruct the immune system that is being attacked in

:31:07. > :31:11.patients that we can't take them out of hospital because it is too

:31:11. > :31:14.much. That is the first of the building blocks, you bring the

:31:14. > :31:18.immune system back to normal before you do anything else. Because then

:31:18. > :31:23.if you give chemotherapy or radiotherapy that treatment is more

:31:23. > :31:27.likely to work. It has recently been reported that some of these

:31:27. > :31:30.these new treatment that is takes the brakes of the immune system and

:31:30. > :31:36.allows it to be functional again, when you radiate a tumour, because

:31:36. > :31:40.it is a little bit too big, the other tumours will disagree as well.

:31:40. > :31:43.The treatment matters so much for Ben, because his tumour has

:31:43. > :31:46.developed resistance to the best that chemotherapy can offer. The

:31:46. > :31:52.question is whether the team can retrieve enough tumour material

:31:52. > :31:57.from his shoulder to work with in the laboratory. Then, they have to

:31:57. > :32:03.hope that any killer T shells they will find in that material will

:32:03. > :32:08.grow, to form an economy -- T-cells they will find in that material

:32:08. > :32:12.will grow to form an army to fight for Ben. The UK really has a chance

:32:12. > :32:19.to lead the world in immunotherapy, but they face a hurdle to get to

:32:19. > :32:23.the next stage. This time it is not about science, but money.

:32:23. > :32:30.It has revolutionised what we do we use this all the time. We have a

:32:30. > :32:34.group of chemists interacting with the structure in 3-D, designing and

:32:34. > :32:40.making molecules. This is the head of the Institute of Cancer Research,

:32:40. > :32:46.scientists here use the latest in 3-D visualisation technology to

:32:46. > :32:51.design new drugs against cancer. Working out the best structure,

:32:51. > :32:54.atom-by at tomorrow. You can be knee deep with the design team and

:32:54. > :33:00.group of biologists, saying here is a cavity and a pocket in the

:33:00. > :33:04.protein we are trying to hit, how can we design a molecule and

:33:04. > :33:09.capture its 3-D structure. science is exciting, but struggling

:33:09. > :33:12.to get beyond the lab. Right now we have the combination of the mos

:33:12. > :33:16.exciting science, and the most frustrating financial situation. We

:33:16. > :33:20.have the cancer genome, and immune approaches, and incredible science

:33:20. > :33:25.and ideas, and we can't fund it. We have to come up with creative

:33:25. > :33:28.approaches. It has to be some kind of partnership between industry,

:33:28. > :33:33.between Government and from non- profit organisations, charities,

:33:33. > :33:37.philanthropy, that will fill this prij of the valley of death,

:33:37. > :33:41.between excellent basic science, and -- bridge between the valley of

:33:41. > :33:46.death, between excellent basic science and the financial issues.

:33:46. > :33:49.Since the financial crash, money for new research has been trying up.

:33:49. > :33:53.Cancer research would normally look to Government, charities or

:33:53. > :33:58.business to take the work forward. Britain's largest cancer charity

:33:58. > :34:02.has found it so hard to secure money and partners, it has set up

:34:02. > :34:08.its own cancer investment fund. Cancer research UK's commercial arm

:34:08. > :34:11.is spending �25 million, with equal funding from Europe, on this new

:34:11. > :34:15.investment strategy. In the last five to ten years there have been

:34:15. > :34:18.far fewer new small companies that we historically have used as our

:34:19. > :34:22.development partners formed, because of what has happened in

:34:23. > :34:26.venture capital. Secondly, the industry has migrated away from

:34:26. > :34:30.early stage research, we really found it difficult to find places

:34:30. > :34:35.to partner the projects. We have needed to do it ourselves, and the

:34:35. > :34:39.fund is a mechanism to do that. Scientists at the institute

:34:39. > :34:46.recently published exciting work on one form of inmuen know therapy,

:34:46. > :34:50.using a virus that -- immunotherapy, using a virus that hitch as ride on

:34:50. > :34:55.T-cells. It trigger the immune system to attack, a bit like a

:34:55. > :34:59.vaccine. Is there more politicians should be doing to make sure the UK

:34:59. > :35:03.stays at the cutting edge? Government can facilitate many

:35:03. > :35:08.different aspects of this. It can help with the funding of basic

:35:08. > :35:12.science and universities and research institutes, it can make it

:35:12. > :35:15.easier for industries to operate and be successful. It can act as a

:35:15. > :35:18.catalyst for bringing all these things together in a consortium,

:35:18. > :35:21.for the good of cancer patients around the world. Is that happening

:35:21. > :35:31.to best effect at the moment? think good efforts are being made,

:35:31. > :35:32.

:35:32. > :35:39.more can be done. Ben's tumour sample, and hopefully

:35:39. > :35:43.the killer T-cells it contains are ready to travel. From the hospital,

:35:43. > :35:49.straight to the team's cell laboratory some miles away. Here

:35:49. > :35:54.they will be carefully nutured over the next few weeks. The best hope

:35:54. > :35:59.is an immediate response, even if that doesn't or kur but there is

:35:59. > :36:03.some shrinkage, that is a major benefit, doin the track something

:36:03. > :36:09.else might come along and I will have access to that. Four weeks

:36:09. > :36:12.later and we have an update, the team found relatively few killer T-

:36:12. > :36:16.cells in the sample, but they have grown well in the lab, and will be

:36:16. > :36:25.ready to reinject into Ben in early August. Whilst nothing is certain,

:36:25. > :36:28.he has been told the treatment does have a 50-50 chance of working.

:36:28. > :36:33.Drug resistence is one of the biggest challenges in the fight

:36:33. > :36:38.against cancer. Doctors need a new weapon. And many scientists now

:36:38. > :36:42.believe that answer lies within ourselves, our own immune systems.

:36:42. > :36:47.But unless we find a way to pay to take the research like this beyond

:36:47. > :36:51.a handful of patients, and attract in further funding, then however

:36:51. > :37:00.good the science, other patients, like Ben, will have to carry on

:37:00. > :37:06.waiting. Watching that was the science

:37:06. > :37:11.minister, David Willets, a member of the science and technology

:37:11. > :37:16.policy research unit at Suffolk university, and the chief clinician

:37:16. > :37:19.at cancer research UK. Lets let lets, we could lead the world in

:37:19. > :37:23.immunology, we could also, according to David Cameron, have

:37:23. > :37:31.life sciences as the jewel in the crown of our economy, so why is

:37:31. > :37:35.there a four-year freeze on the �4.6 billion science project, which

:37:35. > :37:40.actually, over the time, with inflation, means that actually it

:37:40. > :37:44.is a 10% cut in our overall science budget? We have protected the

:37:44. > :37:48.science budget in cash terms, and actually. But there is a cut?

:37:48. > :37:52.the medical research budget, partly because of the income that it gets

:37:52. > :37:58.from previous discoveries, as being protected against inflation as well.

:37:58. > :38:02.That money is going to medical research. Now, then, the medical

:38:02. > :38:06.researchers are absolutely up for ideas on immunotherapy and other

:38:06. > :38:10.developments, that is a decision, quite rightly, for the scientific

:38:10. > :38:14.community, not me as a minister. you look at it in overall terms,

:38:14. > :38:17.there is a 10% cut in the science budget. You may cut the science

:38:17. > :38:22.budget in a different way to give more money elsewhere. But, in fact,

:38:22. > :38:27.the overall impact is a 10% cut, when other countries, coming out of

:38:27. > :38:31.deficit, looking at China, and looking at Germany, and also at

:38:31. > :38:34.America, they are making the life sciences budget a priority. They

:38:35. > :38:40.see the huge returns and benefits to their population of bucking the

:38:40. > :38:44.trend in cut and investing more? And the science budget has been, we

:38:45. > :38:47.are making life sciences a priority. Medical research, as it is enjoying

:38:47. > :38:51.the benefits of previous discoveries, and has been protected

:38:51. > :38:54.against inflation as well. On top of that, with the life sciences

:38:55. > :38:58.strategy last December, we have put more money into the correct

:38:58. > :39:02.challenge that was identified in your package, breaching the valley

:39:02. > :39:07.of death, from the pure research sponsored by the Medical Research

:39:07. > :39:12.Council, to commercial businesses. It is not nearly enough. From your

:39:12. > :39:15.point of view, this gap that is leading to the valley of death, the

:39:15. > :39:18.basic research in getting the trials complete and out to patients.

:39:18. > :39:22.It doesn't need to be more money out of the British economy into

:39:22. > :39:26.life sciences? First of all, I think the latest figures from the

:39:26. > :39:31.latest campaign from science and engineering is there is a 14.6%

:39:31. > :39:35.real court in the British science spending when you include capital

:39:35. > :39:39.spending. This is at the same time when our competitors, Germany, for

:39:39. > :39:43.example, has increase bid 15%. Innovation is very pack dependant,

:39:43. > :39:48.it depends on innovation yesterday, if we are not in the game today, we

:39:48. > :39:54.will not be in the game ten years time. It is better to get rid of

:39:54. > :39:58.the Bev sit, and get in the game. David Cameron says words like life

:39:58. > :40:03.sciences being the jewel in the crown, but if you are going to make

:40:03. > :40:06.a cut of that extent, we will fall exponentially behind? We have a

:40:06. > :40:11.world class science base, when tough decisions are being taken, we

:40:11. > :40:16.have provided the cash protection, and including for more life

:40:16. > :40:19.sciences, and extra initiatives of breaching the valley of death.

:40:19. > :40:23.Interesting research that shows even in the US Government goes

:40:23. > :40:27.closer to market in supporting life sciences. We are now doing the same

:40:27. > :40:33.in Britain with our life sciences strategy. But the figures matter

:40:33. > :40:39.n2012 the NIH, the National Institute of Health, one of the

:40:39. > :40:43.main funders for pharmaceutical and biomedical research, spend �31

:40:43. > :40:49.billion. This �20 million donation is wonderful news, we are talking

:40:49. > :40:53.about an area where one drug costs �1 billion. �20 million was your

:40:53. > :40:58.announcement today from a philanthropist, it is a tremendous

:40:58. > :41:02.and real gf gift, but �20 million is nothing? It is the largest

:41:02. > :41:06.donation we have had. I think it is a recognition on the part of our

:41:06. > :41:09.supporters, that this is a really exciting and vibrant area of

:41:09. > :41:12.science, where the UK does have the potential to lead the world,

:41:12. > :41:18.because of the partnership between the universities and the health

:41:18. > :41:22.system, which has been invested in very substantially by Cancer

:41:23. > :41:26.Research UK. Can philanthropy take the place of Government funding, or,

:41:26. > :41:30.indeed, venture capital coming in with a lot of money? I think the

:41:30. > :41:37.things have to work together. One of the things we understand about

:41:37. > :41:41.inmuenology, is it is extremely complicated, it doesn't -- it

:41:41. > :41:44.doesn't like being told what to do. We have to understand at a

:41:44. > :41:48.fundamental level how these things work, that is not just what a

:41:48. > :41:50.pharmaceutical company will do. It is rich scientific culture

:41:50. > :41:55.dependant on all different streams of funding. Different streams of

:41:55. > :41:59.funding? People talk about the ecosystem, and it sounds very

:41:59. > :42:03.romantic, but when you look at who the different actors are in that

:42:03. > :42:07.system, venture capital has been extremely problematic in this

:42:08. > :42:12.industry, it is a high-risk, uncertain industry, where you have

:42:13. > :42:19.14 years between discovery and commercial realisation, and they

:42:19. > :42:29.want quick profits in low-risk areas. That is why you have all the

:42:29. > :42:33.buy metric companies that produce a lot of money but have no results.

:42:33. > :42:37.If you want patient capital, that should be coming, whether from

:42:37. > :42:40.public funding n Brazil it comes from state investment bank, also,

:42:40. > :42:46.it is fascinating, we have been talking about Barclays obviously a

:42:46. > :42:52.lot in the last two weeks, Barclays and GSK, as well Aslam tro Zenica,

:42:52. > :42:58.are three of the companies -- astro Zenica, who are three of the

:42:58. > :43:02.companies who spend most on stock. GSK spends more on R & D than any

:43:02. > :43:06.private company in Britain. If you look at King's Cross, you will see

:43:06. > :43:09.Cancer Research UK, and the British Government through Medical Research

:43:09. > :43:14.Councils and Britain's leading universities, coming together to

:43:14. > :43:23.put half a million into a new medical research centre. Half a

:43:23. > :43:27.that is a lot of money, but if you take what is said, �33 billion in

:43:27. > :43:31.America? We are absolutely aware thater endlessly competing with

:43:31. > :43:35.other environments, I still think - - that we are endlessly competing

:43:35. > :43:38.with other environments, I'm still convinced with the life sciences

:43:38. > :43:41.budget and the excellent universities, and other things,

:43:41. > :43:44.that Britain is a world class player. We are competing with other

:43:44. > :43:49.countries trying to raise their game. It is not that we don't have

:43:49. > :43:52.great scientists who can actually, that can actually work on the

:43:52. > :43:55.starting blocks, but is this valley of death getting us to a situation

:43:56. > :44:00.where every NHS patient can get the treatment they want, and that takes

:44:00. > :44:03.public money? I accept that, that is why, better than I would say

:44:03. > :44:07.than any previous Government, we are focusing on getting the public

:44:07. > :44:13.funding closer to market, and the NHS to buy the stuff. That way you

:44:13. > :44:18.can bridge the gap. Can that happen, when, there is a real cut in the

:44:18. > :44:23.science budget? We eventually put extra money into the technology

:44:23. > :44:27.strategy board, which is putting in �90 million, alongside medical

:44:27. > :44:32.research money, precisely to take ideas closer to market. That is

:44:32. > :44:36.historically a valley of death in Britain. �90 million as a one-off

:44:36. > :44:41.or annually or monthly? It is a continuing flow of investment. This

:44:41. > :44:45.Government, with that life science catalyst fund. It is one �90

:44:45. > :44:49.million tranche? It is a continuing programme aimed at taking research

:44:49. > :44:54.closer to commercialisation, because as was correct low argued,

:44:54. > :45:00.that we need to supply that funding close to market. You said �90

:45:00. > :45:05.million, is it �90 million, or a year, or a month, or one tranche of

:45:05. > :45:09.�90 million? It is �180 million over three years that will go into

:45:10. > :45:13.this programme. Sorry, but at the same time, Pfizer has left, GSK is

:45:13. > :45:17.leaving, others are leaving, where are they going? One of the

:45:17. > :45:23.countries in the world that is spending the most public money.

:45:23. > :45:33.�800 billion in the last 60 years has been spent by the US. Looking

:45:33. > :45:56.

:45:56. > :46:01.at tomorrow morning's front pages, There is to be no swan upping, the

:46:01. > :46:06.annual census of swans has been going on since medieval times,

:46:06. > :46:10.though the Monarch has long stopped eating them. It has been cancelled

:46:10. > :46:20.because of the floods, if you are desperate to count swans, we can

:46:20. > :46:54.

:46:54. > :46:57.Hello, before we get any warm sunny weather there is more rain to come.

:46:57. > :47:00.It stays wet on Wednesday, heavy showers follow the overnight rain

:47:00. > :47:04.into Northern Ireland, we will see it turning showery across England

:47:04. > :47:08.and Wales. The showers could be heavy, there will be some sunshine

:47:08. > :47:13.between them in northern England. A few thundery showers will work

:47:13. > :47:16.across the Midlands during the afternoon. Very few showers, London

:47:16. > :47:19.and southwards, it may well stay dry. There will be a noticable

:47:19. > :47:23.breeze blowing a strong south- westerly wind, it will take the

:47:23. > :47:26.edge off the temperatures. A wet morning for the south west of

:47:26. > :47:29.England and Wales, it will be followed by sunshine and showers,

:47:29. > :47:33.most of the showers will be in the north. Some could be heavy.

:47:33. > :47:36.Northern Ireland, where we get sunshine and heavy showers, the

:47:36. > :47:40.rain may come back in the north later on in the day. It is still

:47:40. > :47:44.there all day, across central, southern Scotland. There could be a