Browse content similar to 17/07/2012. Check below for episodes and series from the same categories and more!
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Tonight, they want to work for G4S, but they can't. Can't you see they | :00:15. | :00:20. | |
are doing their job, they are not. Done the training and everything, | :00:20. | :00:27. | |
and then it is a joke. There is nowhere to go for the boss. This is | :00:27. | :00:31. | |
a humiliating shambles for the company, yes or no? I cannot | :00:31. | :00:35. | |
disagree with you. That will be a yes then. Now we learn that not | :00:35. | :00:40. | |
just the army, but more police are being drafted in to fill the hole. | :00:40. | :00:43. | |
The chairman of the Police Federation is none too pleased. Is | :00:43. | :00:50. | |
there too much security any way? Ken Livingston thinks so. | :00:50. | :00:56. | |
More Barclays shockwaves, Mervyn King said he knew nothing about | :00:56. | :01:02. | |
their LIBOR manipulation until two weeks ago. We informed all the | :01:02. | :01:08. | |
relevant authorities in both the UK and the United States. This is an | :01:08. | :01:13. | |
immune system cell killing a cancer cell. This is yielding amazing | :01:13. | :01:17. | |
results in some cancer patients. only know that the treatment is | :01:17. | :01:21. | |
working, but to actually see it on the screen is very, very | :01:21. | :01:26. | |
encouraging. The science minister is here to explain why we are not | :01:26. | :01:36. | |
:01:36. | :01:36. | ||
throwing Government money into immunotherapy. Good evening, the | :01:36. | :01:40. | |
chief executive G4S told MPs today that he wished he had never taken | :01:40. | :01:43. | |
on the Olympic security contract. Nick Buckles will not be alone in | :01:43. | :01:47. | |
that view. But it is cold comfort to his bewildered workers, and to | :01:47. | :01:50. | |
police forces around the country who are having to plug a big black | :01:51. | :01:54. | |
hole. Today it was revealed that nearly 400 extra police officers a | :01:54. | :01:58. | |
day will be needed to secure Olympic venues in the West Midlands, | :01:58. | :02:03. | |
until August 9th. But despite the shambles, Mr Buckles said G4S will | :02:03. | :02:13. | |
still be taking its �57 million management fee from the games. | :02:13. | :02:17. | |
There was one part of Stratford that G4S had under control today, | :02:17. | :02:21. | |
their training centre. Hundreds of would-be security guards had turned | :02:21. | :02:25. | |
up here today in the hope of a job. While eight miles away in | :02:25. | :02:30. | |
Westminster, the chief executive was getting a frisking of his own | :02:30. | :02:33. | |
from MPs. Many would take the view that the reputation of the company | :02:33. | :02:38. | |
is now in tatters, you wouldn't agree? I think at the moment I | :02:38. | :02:44. | |
would have to agree with you. We have had fantastic track record of | :02:44. | :02:48. | |
service delivery in many years in many countries, but clearly this is | :02:48. | :02:55. | |
not a good position to be in. We feel we have to make every | :02:55. | :02:59. | |
endeavour to deliver as well as we can on this contract. It is a step | :02:59. | :03:04. | |
backwards and a humiliating shambles? It is not where we would | :03:04. | :03:08. | |
want to be, that is certain. It is a humiliating shambles for the | :03:08. | :03:12. | |
company, yes or no? I can't disagree with you. Behind these | :03:12. | :03:15. | |
green bars is where they are trying to sort out that shambles. The | :03:15. | :03:19. | |
irony is there is no shortage of people who want to pitch in. Today | :03:19. | :03:22. | |
people were flocking to the training centre, want to go find | :03:22. | :03:26. | |
out when they could start, in what they describe as a "job of the | :03:26. | :03:30. | |
lifetime", many were leaving disappointed. We didn't have to try | :03:30. | :03:34. | |
very hard to find them. Come to see that they are doing their job. They | :03:34. | :03:39. | |
are not. They are not? No, they are not doing their job. In what way? | :03:39. | :03:44. | |
Because I'm supposed to be working with them. I want to find out a | :03:44. | :03:48. | |
simple bit of information and no- one is helping me. What did you | :03:48. | :03:55. | |
need to find out? They sent me away, I took down two guys' names, I | :03:55. | :03:58. | |
don't want to follow it up, I want my job. I done the training and | :03:58. | :04:02. | |
everything. It is a joke. I came down here today. What made | :04:02. | :04:06. | |
you come down? I heard the news that they needed people, I have | :04:06. | :04:12. | |
been applying for other jobs as well, and it is part-time position, | :04:12. | :04:17. | |
so I will be waiting for them. they say you have a chance, or is | :04:17. | :04:24. | |
it too late? No, they said training is going on in around about three | :04:24. | :04:30. | |
weeks, hopefully I will get a position. | :04:30. | :04:33. | |
This man says he was wrongly accused of missing training, which | :04:33. | :04:38. | |
he had actually turned up for yesterday? This morning someone | :04:38. | :04:41. | |
called me, what happened to you, you didn't come to the training | :04:41. | :04:45. | |
yesterday, and today. I said, no, I was there yesterday, but they | :04:45. | :04:49. | |
changed my appointment to different training, I didn't know what to do. | :04:49. | :04:53. | |
Some workers said they wished they had never bothered signing up for | :04:53. | :04:57. | |
the job. Nick Buckles told the Select Committee, he felt the same | :04:57. | :05:00. | |
way. Do you regret signing the contract saying you would agree to | :05:01. | :05:05. | |
provide these people, Mr Buckles? Clearly we regret signing the | :05:05. | :05:10. | |
contract, now we have to get on and deliver. Are you telling the | :05:10. | :05:14. | |
committee that real serious consideration was given that the | :05:14. | :05:18. | |
company could deliver before that contract was signed, or was it so | :05:18. | :05:22. | |
lucrative that you decided it was such a marvellous contract you | :05:22. | :05:24. | |
would sign? No, careful consideration went in from the team | :05:24. | :05:31. | |
in the UK, looking at this contract. There was a number of work streams | :05:31. | :05:35. | |
to see if they could deliver it, it was signed later than we would have | :05:35. | :05:38. | |
liked but we still signed the contract. It is not a question of | :05:38. | :05:42. | |
being lucrative. As I said earlier, we did this purely because we | :05:42. | :05:45. | |
wanted to have a successful security operation at this Olympics. | :05:45. | :05:48. | |
It is not particularly financially lucrative for us. It was much more | :05:48. | :05:53. | |
about, ironically, reputation and building reputation for the future. | :05:53. | :05:59. | |
The problem is s even today staff were telling us that they turned up | :05:59. | :06:02. | |
for work, here at the Olympic Park because their rota had changed and | :06:02. | :06:07. | |
they weren't told. One senior member of staff, who wouldn't go on | :06:07. | :06:10. | |
camera, described the scene here as being in complete meltdown, saying | :06:10. | :06:14. | |
the system failed his workers, and he was so embarrassed he didn't | :06:14. | :06:18. | |
wafrpbt to be seen in public in his green - want to be seen in public | :06:18. | :06:23. | |
in his green uniform. There were few signs of embarrassment from his | :06:23. | :06:27. | |
chief executive. With all this going on, are you still going to | :06:27. | :06:32. | |
pay your management fee. Yes. Because why? You haven't managed | :06:32. | :06:36. | |
the contract. We will have management on the ground. Even with | :06:36. | :06:41. | |
all that happened you still want to claim the management fee? Yes. | :06:41. | :06:47. | |
Eventually an answer came. total management fee on current | :06:47. | :06:54. | |
budgets with our client is in the order of �57 million. | :06:54. | :06:59. | |
Nick Buckles has admitted G4S can only really confirm personnel on a | :06:59. | :07:03. | |
day-to-day basis. But with more reports of staff not turning up | :07:03. | :07:09. | |
today, it looked very much like a numbers game they were losing. I'm | :07:09. | :07:12. | |
joined by the chairman of the Police Federation, which represents | :07:12. | :07:18. | |
officers in England and Wales. We know that 380 officers were | :07:18. | :07:25. | |
called on today in the West Midlands to go through the night. | :07:25. | :07:28. | |
Do the requests keep coming? They are coming from across the country, | :07:28. | :07:33. | |
north, south, east and west. The staff just aren't turning up from | :07:33. | :07:36. | |
G4S. Police officers are having to fill these gaps that are appearing | :07:36. | :07:39. | |
around the country. We don't know the staff aren't turning up for | :07:39. | :07:43. | |
anything other than scheduling, they usually want to turn up, I | :07:43. | :07:48. | |
understand? Some appear to want to turn up, but the thing is staff | :07:48. | :07:52. | |
aren't there to perform their functions. Clearly there is a limit | :07:52. | :07:55. | |
to which you can go? Of course, police officers are resilient and | :07:55. | :07:59. | |
flexible, and we have a duty to protect the public, that is what we | :07:59. | :08:05. | |
will try to do to deal with this debacle that is taking place. But | :08:05. | :08:09. | |
we are hugely stretched with the Olympic itself, we had a huge | :08:09. | :08:12. | |
commitment to supply officers across the UK not just East London, | :08:13. | :08:16. | |
but we have ordinary operational duties to continue with too, plus | :08:16. | :08:19. | |
all the other events in the country at the same time. Can you guarantee | :08:19. | :08:23. | |
normal levels of street staffing and specialist police work and so | :08:23. | :08:27. | |
forth? We are going to do our absolute best. We have to focus on | :08:27. | :08:29. | |
what is important for the country. This is national reputational issue | :08:29. | :08:34. | |
that we have to deal with. We have to ensure the games are safe, and | :08:34. | :08:36. | |
people can come to London and the other sites, and be secure when | :08:36. | :08:41. | |
they go there. That is what we will do as police officers, with the | :08:41. | :08:45. | |
resilience we show, normally in our every day axiveties. There will | :08:45. | :08:49. | |
come a point when you can't guarantee normal day-to-day police | :08:49. | :08:52. | |
work, if you are having to lend so many to the Olympics? We are not | :08:52. | :08:56. | |
there yet. Officers are finding their own time much more stretched. | :08:56. | :08:59. | |
They are having to have fewer days off, very few days at all during | :08:59. | :09:03. | |
the Olympic period. But we are trying to manage what is before us. | :09:03. | :09:07. | |
If you were asked for another 1,000, could you do it, and guarantee | :09:07. | :09:11. | |
normal levels of policing on the street? We would have to do it, we | :09:11. | :09:14. | |
have to find the numbers if they are necessary. Goodness me, this | :09:14. | :09:17. | |
time last year you were dealing with the riots? That is a sillent | :09:17. | :09:23. | |
point, if you look, we have lost -- salient point, if you look we have | :09:23. | :09:28. | |
lost 7,000 officers in the last Government, and policing is a lower | :09:28. | :09:31. | |
priority for this Government, we are less resilient than last year. | :09:31. | :09:35. | |
You don't know the breaking point until you get to it. It is hard to | :09:35. | :09:41. | |
say when that point will come. There will come a point where you | :09:41. | :09:45. | |
can't provide officers to the Olympics? There is not a limitless | :09:45. | :09:48. | |
box of police officers for the country. I speak to police officers | :09:48. | :09:51. | |
right across the country at open meetings, they are saying already | :09:51. | :09:56. | |
that they are feeling very stretched, and the public safety is | :09:56. | :09:59. | |
put at risk and their own safety. The other argument would be that | :09:59. | :10:04. | |
this, in a sense, plays into the agenda that you are promoting, that | :10:04. | :10:08. | |
we don't have enough police officers, and we are facing | :10:08. | :10:14. | |
cutbacks in the force with the changes of duty. The Four | :10:14. | :10:20. | |
Musketeers crisis plays into the whole thing, -- G4S crisis plays | :10:21. | :10:30. | |
:10:31. | :10:33. | ||
into the hands of it. Cynics might say this suits you. The first job | :10:33. | :10:43. | |
is people are safe, the other come later. | :10:43. | :10:46. | |
There is stretching over in Northern Ireland, with the PSNI, | :10:46. | :10:51. | |
for marching season? There is a possibility there. | :10:51. | :10:59. | |
I'm joined by Ken Livingston, along with Matthew Side, who competed in | :10:59. | :11:09. | |
the bars lone fla and Sydney -- Barcelona and Sydney Olympics, and | :11:09. | :11:14. | |
a representative of LOCOG. Craig Oliver, what would you have | :11:14. | :11:18. | |
done differently? -- Ken Livingston, what would you have done | :11:18. | :11:22. | |
differently? The big mistake was take control away from the police | :11:22. | :11:26. | |
and dump it into the Home Office. The police should have run this, | :11:26. | :11:30. | |
they have the indepth knowledge, they could have made the decision | :11:30. | :11:34. | |
about the augmented police. In the last two years we have had 2,000 | :11:34. | :11:38. | |
police posts cut in London, with the Olympics coming, this was | :11:38. | :11:41. | |
madness. No commissioner would have done that, the Home Office was | :11:41. | :11:45. | |
happy to see it. Is it right that you feel security is overegged? | :11:45. | :11:50. | |
think there is a real problem here, both ministers want to come on to | :11:50. | :11:56. | |
the TV and say we are doing everything to protect people, Group | :11:56. | :11:59. | |
4 got in contact and ramping up the contract. The simple fact is you | :11:59. | :12:04. | |
have two ways in which a terrorist can strike, you have the lone | :12:04. | :12:09. | |
psychopath like we had at Atlanta, or the organised attack like Al- | :12:09. | :12:14. | |
Qaeda. You don't catch Al-Qaeda by frisking people looking at their | :12:14. | :12:20. | |
Lieutenant-General books, you do it by doubt agents and electronic | :12:20. | :12:24. | |
surveillance. I have a horrible feeling this is about throwing | :12:24. | :12:27. | |
money at it, because they are terrified they will come on | :12:27. | :12:30. | |
Newsnight after a bombing and say why didn't you do more. I think | :12:30. | :12:35. | |
they are making a miscalculation. Reputationally there is a risk, you | :12:35. | :12:37. | |
can't be seen to be doing everything other than the utmost? | :12:37. | :12:42. | |
You have to do the utmost, whether flowing money at a private sector | :12:42. | :12:45. | |
organisation, with no real experience of counter terrorism is | :12:45. | :12:50. | |
a good use of money in my opinion. You heard Nick Buckles saying he | :12:50. | :12:54. | |
wished he hadn't gone for the contract? That is not a surprise | :12:54. | :12:58. | |
after the Select Committee. Picking up on what Ken said, it is an | :12:58. | :13:02. | |
extraordinarily difficult balance to strike, these global sporting | :13:02. | :13:06. | |
events are the perfect platform for terrorists to secure publicity for | :13:06. | :13:09. | |
their causes. We have seen that in football, we have seen it in | :13:09. | :13:12. | |
cricket, we have seen it at the previous Olympic Games. On the | :13:12. | :13:15. | |
other hand, this is supposed to be a celebration of human endeavour, | :13:15. | :13:20. | |
and the human spirit. At my first Olympics in Barcelona, it was truly | :13:20. | :13:24. | |
terrifying to see the apparatus that surrounded the venues. The X- | :13:24. | :13:28. | |
ray machines you had to go through, the checking of the bags. It has to | :13:28. | :13:34. | |
be the same for journalists and individuals. I agree with Ken, the | :13:34. | :13:38. | |
downsize to risk-averse politicians is considerable, they may have jofr | :13:38. | :13:43. | |
egged the pudding. On the simple point of the management see -- | :13:43. | :13:47. | |
Overegged the pudding. On the simple point of the management fee, | :13:47. | :13:51. | |
Nick Buckles was clear, that the management fee will be taken by G4S. | :13:51. | :13:56. | |
Is that correct, even if they are contractually allowed it, is it | :13:56. | :14:01. | |
correct that they take it if their security operation is a fiasco? | :14:01. | :14:04. | |
is not speculation to say it is a fiasco, it is already there. In | :14:04. | :14:08. | |
terms of should they take it? No, I don't think they should. However, | :14:08. | :14:12. | |
this should come as no surprise to anybody, this is another dot on a | :14:12. | :14:15. | |
trend line of large organisations making massive promises that they | :14:15. | :14:19. | |
either cannot or did not have any intention of fulfiling. So it | :14:19. | :14:23. | |
shouldn't be a surprise that at the end of this, when there has been a | :14:23. | :14:27. | |
massive meltdown, a sequence of mistakes that has led to other | :14:27. | :14:30. | |
people's lives being disrupted, whether it is soldiers returning | :14:30. | :14:35. | |
from active warzones, now being reactivated domestically, or | :14:35. | :14:40. | |
policemen now working double and overtime, to make up for those | :14:40. | :14:43. | |
mistakes. Something in there should spark a conscience in these | :14:43. | :14:45. | |
organisations, but we have seen, there is no trend of that happening. | :14:46. | :14:49. | |
It is not a great start, and just putting that point that Ken made, | :14:49. | :14:55. | |
that actually the Met should have been doing this, and not a private | :14:55. | :14:57. | |
organisation, that is very much your political view, that it should | :14:57. | :15:02. | |
be the police service that provides Security Services? You could have | :15:02. | :15:07. | |
given the police half this money, they would have done a damn sight | :15:07. | :15:13. | |
better job than G4S. Let's put it in perspective, the �300 million we | :15:13. | :15:16. | |
are talking about, if you want to put the figure on the new recruits | :15:16. | :15:19. | |
coming into the service, you could have employed 15,000 police | :15:20. | :15:22. | |
officers for a year. That is the sort of service you would have got, | :15:22. | :15:26. | |
not a few thousand guards at the Olympics. | :15:26. | :15:30. | |
In terms of how the Olympics will proceed, you talk about being | :15:30. | :15:35. | |
shocked at Barcelona looking at the apparatus of security. But the | :15:35. | :15:39. | |
athletes themselves will be so focused and honed on this, that | :15:39. | :15:43. | |
what is happening for people trying to get to the games will not be in | :15:43. | :15:47. | |
their peripheral vision even? could almost describe the | :15:47. | :15:50. | |
distinctive psychology of the sports person is to have tunnel | :15:50. | :15:54. | |
vision, and to focus on only those variables that are controllable. | :15:54. | :15:58. | |
Security is not one of those things. If there was a direct and credible | :15:58. | :16:04. | |
threat, as there was, for example, in the World Badminton Championship, | :16:04. | :16:08. | |
it would register, and certain athletes flew home from India. | :16:08. | :16:12. | |
Until that happens they will not be concerned at all. It will barely | :16:12. | :16:15. | |
register that certain state employees are taking over from | :16:15. | :16:17. | |
private sector employees to protect their security. I think something | :16:17. | :16:21. | |
we have to point out as well is, when I spoke to Steve Redgrave | :16:21. | :16:25. | |
about his five Olympics that he went to, he said he was surprised | :16:25. | :16:28. | |
how much they grew during that time, the number of people involved both | :16:28. | :16:32. | |
with athletes and also the press and media who were there as well. | :16:32. | :16:35. | |
The whole focus of the world is on London. | :16:35. | :16:39. | |
Let's say the Olympics can grow a bit more. Today it has been | :16:39. | :16:45. | |
announced that almost half the tickets for football, 1.1 million | :16:45. | :16:49. | |
are not sold, and other non- football tickets. What, | :16:49. | :16:53. | |
realistically do you do with them? I'm not surprised that football | :16:53. | :16:56. | |
tickets have not sold. Because the British footballing public is | :16:56. | :17:00. | |
sophisticated. They understand that the Olympic Games is not the | :17:00. | :17:04. | |
pinnacle of the football calendar. What would you do with them, and | :17:04. | :17:07. | |
the non-football ones. Sebastian Coe says there is ten days until | :17:07. | :17:10. | |
the games start. You don't want to be left with 250,000 non-football | :17:10. | :17:16. | |
tickets, do you? No, I don't think you do. The fact is, I'm sure that | :17:16. | :17:19. | |
there is plenty of logistical things being put in place. I have | :17:20. | :17:24. | |
heard about top teirs of arenas being blocked off and such like. | :17:24. | :17:27. | |
Personally I think there is a legacy opportunity here. There is | :17:27. | :17:30. | |
an opportunity for people who have not, and I'm talking about young | :17:30. | :17:34. | |
people, people from disenfranchised communities, who have not had an | :17:34. | :17:36. | |
opportunity. There is an opportunity here to bring them into | :17:36. | :17:41. | |
the fold of the Olympic Games. Perhaps not on the site, but at | :17:41. | :17:44. | |
these regional venues, there is a real opportunity there. There is a | :17:44. | :17:48. | |
lot of people on the site who don't have tickets for a particular event. | :17:48. | :17:52. | |
When I was mayor I talked to Sebastian Coe, I said look, he was | :17:52. | :17:55. | |
of the same opinion, if people aren't turning up, or there is | :17:55. | :17:59. | |
empty seat, form a queue, let people just come in and see it. | :17:59. | :18:03. | |
of the things we were told by the Government in the police service | :18:03. | :18:06. | |
and elsewhere in the public sector, is we can learn from the private | :18:06. | :18:10. | |
sector, this is a lesson we have learned a very salient lesson, and | :18:10. | :18:13. | |
one the Government should learn about safety and security. On the | :18:13. | :18:18. | |
wider context, is once Team GB starts winning gold medal, these | :18:18. | :18:22. | |
stories over ticketing problems and over security will pale, even over | :18:22. | :18:27. | |
security, will pale. The fundamental issue of security | :18:27. | :18:36. | |
will remain. Thank you very much. Of course while the head of G4S was | :18:36. | :18:40. | |
being grilled by one parliamentary committee, another had in front of | :18:40. | :18:42. | |
it the Governor of the Bank of England, Mervyn King. The Treasury | :18:42. | :18:48. | |
Select Committee gave him no easier ride. Under repeated questioning, | :18:48. | :18:51. | |
certificate Mervyn insisted the first he knew about the | :18:51. | :18:55. | |
manipulation of LIBOR was two weeks ago, and the US authorities hadn't | :18:55. | :18:58. | |
shown him any evidence of wrongdoing when they raised | :18:58. | :19:06. | |
concerns in 2008. At a Senate hearing across the pond, they said | :19:06. | :19:13. | |
the Bank of England had been told of LIBOR issues earlier that year. | :19:13. | :19:18. | |
This LIBOR banking scandal is increasingly resembling a Mexican | :19:18. | :19:24. | |
shootout, except, unlike spaghetti westerns, the goodies are shooting | :19:24. | :19:29. | |
each other. Bob Diamond was gunned down last week, and the deputy, | :19:29. | :19:35. | |
Jerry Del Missier, bit the bullet. Ironically the Barclays' chairman, | :19:35. | :19:39. | |
Marcus Agius, was fatally shot, only to rise from the dead, for now | :19:39. | :19:44. | |
at least. With the main people out of the head the Sheriffs are aiming | :19:44. | :19:50. | |
for each other. They want to know why Bob Diamond | :19:50. | :19:55. | |
was forced out. You were handing the chairman of Barclays a resolver | :19:55. | :19:58. | |
and you were telling him to go and shoot his chief executive? | :19:58. | :20:01. | |
thought the most likely result would be that Bob Diamond would | :20:01. | :20:06. | |
resign. In fact what he did, is he did take the resolver and he | :20:06. | :20:11. | |
decided to shoot himself? Yes, and as I said last night, I think that | :20:11. | :20:15. | |
was an honourable thing to do, I think Mr Agius thought it was the | :20:15. | :20:24. | |
right thing to do, it was not what I was expecting him to do. | :20:24. | :20:26. | |
But while the Bank of England governor, Mervyn King, didn't like | :20:26. | :20:31. | |
using weapons, he was sticking to his guns on circumstances of Mr | :20:31. | :20:35. | |
Diamond's departure, after the LIBOR scandal had broken cover. | :20:35. | :20:39. | |
don't like these firearms analogies, and they are false. The question | :20:40. | :20:44. | |
that was left absolutely with them, I made it very clear, I finished | :20:44. | :20:48. | |
the meeting by saying, I would like you to make clear to the board, | :20:48. | :20:52. | |
that the regulators have expressed these concerns, and the board as a | :20:52. | :20:55. | |
whole needs to know them. They are very concerned and have lost | :20:55. | :20:58. | |
confidence in the executive management. I did not know what the | :20:58. | :21:01. | |
outcome of that meeting would be. It was left to them to discuss it | :21:01. | :21:04. | |
with their board. But when it came to when the | :21:04. | :21:08. | |
governor first knew that LIBOR had been systematically rigged. | :21:08. | :21:11. | |
first I knew was any alleged wrongdoing was when the reports | :21:11. | :21:15. | |
came out two weeks ago. That seemed to clash markedly with a different | :21:15. | :21:19. | |
Sheriff, who was giving evidence to a different set of elected | :21:19. | :21:28. | |
officials. Carl Bernstein said his team had been tipped off about -- | :21:28. | :21:35. | |
Mr Bernanke said he had known about 2008. It was tipped off about it | :21:35. | :21:38. | |
when it received information about LIBOR submissions, a phone call in | :21:38. | :21:43. | |
2008, in which a trader in Barclays New York told an employee of the | :21:43. | :21:49. | |
Federal Reserve that he thought that Barclays was under -- | :21:49. | :21:55. | |
underreporting its rate. The reserve communicated with the FSA | :21:55. | :22:00. | |
and Bank of England in England. The Governor of the Bank of England | :22:00. | :22:04. | |
concedes he was aware with problems in the rate setting four years ago. | :22:04. | :22:07. | |
He denies he knew of any willful corruption of the rate until a | :22:07. | :22:12. | |
month ago, when all the rest of us were made aware of it. The problem | :22:12. | :22:18. | |
for the governor is, at the very least, he looks niave for not, at | :22:18. | :22:22. | |
least, expecting fraud four years ago, when the governor from across | :22:22. | :22:27. | |
the water was tipping him off. we look at a famous court case | :22:27. | :22:31. | |
coming up again and again, and getting let off by the same judge | :22:31. | :22:34. | |
again and again, would you not question the judge remaining in | :22:34. | :22:37. | |
office. Should there not be questions, given the testimony we | :22:37. | :22:41. | |
have seen by the FSA and the Bank of England, that something just | :22:41. | :22:45. | |
does not stack up. The regulation has not worked. The system has | :22:45. | :22:52. | |
clearly failed, and something needs to be done, and it needs to be done | :22:52. | :22:55. | |
now. When you see the regulation and action in the US, things seem | :22:56. | :23:01. | |
to happen and quickly. We saw another example of that today, yet | :23:01. | :23:05. | |
another British bank accused of willfuling ignoring the rules for | :23:05. | :23:11. | |
gain. HSBC was in the dock, for aiding America's enemies, by | :23:11. | :23:14. | |
allowing ill gotten gains fundamental through their accounts. | :23:14. | :23:20. | |
At HSBC we uncovered troubling examples in which weak system may | :23:20. | :23:26. | |
have allowed criminal or terror funds pass through. The ent the | :23:26. | :23:29. | |
regulatory entities have concluded that because of the volume of money, | :23:29. | :23:36. | |
it probably came from the proceeds of ill gotten drug deeds. They were | :23:36. | :23:39. | |
coached on how to get the funds through the US without information. | :23:40. | :23:44. | |
Unlike the man at Barclays, the man responsible from HSBC fell quickly | :23:44. | :23:51. | |
on his sword. As I have thought about the transmission of the bank, | :23:51. | :23:54. | |
I recommended it was time for me and the bank for someone to head as | :23:54. | :23:57. | |
head of group compliance. I have agreed to work with the senior | :23:57. | :24:01. | |
management towards an orderly transition of this important role. | :24:01. | :24:06. | |
Right now there are eight separate investigations on both sides of the | :24:06. | :24:10. | |
Atlantic, either suspected fraud or illegal banking activety. So many | :24:10. | :24:16. | |
it will appear like the bolt on the stable door has been polished, long | :24:16. | :24:20. | |
after the stallion has run off into the sunset. | :24:20. | :24:23. | |
Brilliant at ideas, rubbish at making money out of them. For years | :24:23. | :24:27. | |
Britain has tried to shake off that image, but the financial strictures | :24:27. | :24:32. | |
of the last couple of years have made the problem worse, just as | :24:33. | :24:35. | |
fashioning a knowledge-based economy is paramount. In cancer | :24:36. | :24:40. | |
therapy that is acute. One of the most exciting new treatments, | :24:40. | :24:44. | |
immunotherapy, is beginning to show promise, just as funding for | :24:44. | :24:48. | |
crucial research is drying up. Philanthropy has come to the rescue, | :24:48. | :24:54. | |
with a massive donation of �20 million. Are such acts the way | :24:54. | :24:58. | |
ahead. One of the beneficiaries of the funds and the science minister | :24:58. | :25:02. | |
will be with us, but first this. Most of us know someone who has | :25:02. | :25:09. | |
been there. Waiting, to see if it is cancer. | :25:09. | :25:13. | |
Waiting to see if the cancer is gone. Waiting to see if it has come | :25:13. | :25:20. | |
back. Even the best treatments can buy only a few months of extra time. | :25:20. | :25:24. | |
Now, scientists think one approach could lead us to our best hope of a | :25:24. | :25:34. | |
:25:34. | :25:38. | ||
cure. But the money, to make that leap, is drying up. Ben Perdriau | :25:38. | :25:44. | |
and his wife have thrown in from Austrailia he was diagnosed with | :25:44. | :25:49. | |
melanoma, there was news last year it spread to the brain. His body | :25:49. | :25:53. | |
has shown resistance to conventional drugs. Two or three | :25:53. | :25:57. | |
hours after the treatment you get a temperature, 39-40, you start to | :25:57. | :26:01. | |
shiver and shake. He's about to start a new approach, one that | :26:01. | :26:07. | |
enlists the power of his own immune system to fight the cancer. He's | :26:07. | :26:11. | |
only the third person to try this pioneering treatment in the UK. | :26:11. | :26:19. | |
goal is to look for something with a more promise and durable response, | :26:19. | :26:23. | |
hopefully in a complete response that can last for several years, if | :26:23. | :26:29. | |
not indefinitely. So, the therapy that's being developed and been | :26:29. | :26:35. | |
administered here is something that does hold that promise. So I'm here | :26:35. | :26:42. | |
putting my hand up for it. This is a melanoma cell, being | :26:42. | :26:48. | |
attacked by two killer T-cells. Killer T-cells are in the body's | :26:48. | :26:51. | |
frontline of immune defence, scientists want to use their power | :26:52. | :26:55. | |
to fight cancer. They have already found they can do this by | :26:55. | :26:59. | |
stimulating their production with drugs. Now, they are working on a | :26:59. | :27:03. | |
new approach. Taking killer T-cells out of the patient, and growing | :27:03. | :27:09. | |
more of them. Creating an attacking army that can be safely reinjected. | :27:09. | :27:16. | |
This whole approach is called immunotherapy. | :27:16. | :27:22. | |
Tonight there is some good news to report in the fight against cancer. | :27:22. | :27:27. | |
An experimental treatment... America last year, a team in the | :27:27. | :27:32. | |
university of Pennsylvania reported a major breakthrough in | :27:32. | :27:39. | |
immunotherapy. I am Full health with no cancer. There was dramatic | :27:39. | :27:44. | |
improvemented in three leukaemia patients, two were in full | :27:44. | :27:48. | |
remission within the year. News greeted with excitement throughout | :27:48. | :27:55. | |
the world. Here in the UK there have been simply dramatic results. | :27:55. | :28:00. | |
Stan was diagnosed with gastric cancer in 2004 chemotherapy reduced | :28:00. | :28:05. | |
the size of the tumour, but it had grown again two years later. | :28:05. | :28:08. | |
Professor Hawkins of the Christie Hospital in man chest, began | :28:08. | :28:13. | |
treating him five years ago, - Manchester, began treating him five | :28:13. | :28:19. | |
years ago with a drug taken out of his own immune system, a drug that | :28:19. | :28:23. | |
shows remarkable promise. This is the scan from five years ago, that | :28:23. | :28:27. | |
is the tumour in the liver there, this is the one a few weeks ago. | :28:27. | :28:32. | |
Now we can hardly see, hardly anything abnormal there. Sustained | :28:32. | :28:38. | |
for a long period of time. Very encouraging. This is extremely | :28:38. | :28:41. | |
encouraging. It is quite remarkable as a response, there is no doubt it | :28:41. | :28:48. | |
is due to the effects of T-cells in his body. I think what it shows us | :28:48. | :28:53. | |
is if we get this type of T-cells right we should be able to get that | :28:53. | :28:59. | |
on a reproducable, probably not in every patient, but in a high | :28:59. | :29:04. | |
proportion of patients I think we do need to do more trials to test | :29:04. | :29:08. | |
that, and probably to improve the process further. | :29:08. | :29:14. | |
How do you feel after seeing Professor Hawkins today? Very good, | :29:14. | :29:19. | |
actually. Very good. It was enlightning to see the cells, and | :29:19. | :29:25. | |
for him to explain, the way he did. It has given me bait of a boost, | :29:25. | :29:30. | |
really. I know now -- me a bit of a boost. I now know, I have always | :29:30. | :29:33. | |
known the treatment is working, but to actually see it on the screen is | :29:33. | :29:39. | |
very, very encouraging. His tumour hasn't gone, but Stan is now in | :29:39. | :29:45. | |
long-term remission. Ben's on his way to undergo the | :29:45. | :29:52. | |
first part of his treatment. This goes one step beyond Stan's. He's | :29:52. | :29:56. | |
having a melanoma tumour on his shoulder removed, the team will | :29:56. | :30:01. | |
search inside the tumour itself for killer T-cells, tell tale signs of | :30:01. | :30:07. | |
Ben's body fighting back. The idea is to multiply up these cells | :30:07. | :30:12. | |
outside his body, then reinject them to do their job. These new | :30:12. | :30:15. | |
immunotherapies over the last couple of years, have given us | :30:15. | :30:20. | |
great cause for excitement, especially the patients with more | :30:20. | :30:23. | |
advanced diseases. The options for them are some what limited. Some of | :30:23. | :30:27. | |
the effects we have been seeing with these new therapies have been | :30:27. | :30:31. | |
really quite encouraging, I'm sure they will only get better over the | :30:31. | :30:36. | |
course of the next few years. is one of the UK's leading experts | :30:36. | :30:41. | |
in clinical immunology, his ground- breaking work on HIV helped uncover | :30:41. | :30:46. | |
important clues to the way the immune system works. He has been | :30:46. | :30:52. | |
applying those clues to the fight against cancer. One vital clue was | :30:53. | :30:58. | |
that tumours themselves cleverly dampen down our immune systems. | :30:58. | :31:04. | |
we can reconstruct the immune system that is being attacked in | :31:04. | :31:07. | |
patients that we can't take them out of hospital because it is too | :31:07. | :31:11. | |
much. That is the first of the building blocks, you bring the | :31:11. | :31:14. | |
immune system back to normal before you do anything else. Because then | :31:14. | :31:18. | |
if you give chemotherapy or radiotherapy that treatment is more | :31:18. | :31:23. | |
likely to work. It has recently been reported that some of these | :31:23. | :31:27. | |
these new treatment that is takes the brakes of the immune system and | :31:27. | :31:30. | |
allows it to be functional again, when you radiate a tumour, because | :31:30. | :31:36. | |
it is a little bit too big, the other tumours will disagree as well. | :31:36. | :31:40. | |
The treatment matters so much for Ben, because his tumour has | :31:40. | :31:43. | |
developed resistance to the best that chemotherapy can offer. The | :31:43. | :31:46. | |
question is whether the team can retrieve enough tumour material | :31:46. | :31:52. | |
from his shoulder to work with in the laboratory. Then, they have to | :31:52. | :31:57. | |
hope that any killer T shells they will find in that material will | :31:57. | :32:03. | |
grow, to form an economy -- T-cells they will find in that material | :32:03. | :32:08. | |
will grow to form an army to fight for Ben. The UK really has a chance | :32:08. | :32:12. | |
to lead the world in immunotherapy, but they face a hurdle to get to | :32:12. | :32:19. | |
the next stage. This time it is not about science, but money. | :32:19. | :32:23. | |
It has revolutionised what we do we use this all the time. We have a | :32:23. | :32:30. | |
group of chemists interacting with the structure in 3-D, designing and | :32:30. | :32:34. | |
making molecules. This is the head of the Institute of Cancer Research, | :32:34. | :32:40. | |
scientists here use the latest in 3-D visualisation technology to | :32:40. | :32:46. | |
design new drugs against cancer. Working out the best structure, | :32:46. | :32:51. | |
atom-by at tomorrow. You can be knee deep with the design team and | :32:51. | :32:54. | |
group of biologists, saying here is a cavity and a pocket in the | :32:54. | :33:00. | |
protein we are trying to hit, how can we design a molecule and | :33:00. | :33:04. | |
capture its 3-D structure. science is exciting, but struggling | :33:04. | :33:09. | |
to get beyond the lab. Right now we have the combination of the mos | :33:09. | :33:12. | |
exciting science, and the most frustrating financial situation. We | :33:12. | :33:16. | |
have the cancer genome, and immune approaches, and incredible science | :33:16. | :33:20. | |
and ideas, and we can't fund it. We have to come up with creative | :33:20. | :33:25. | |
approaches. It has to be some kind of partnership between industry, | :33:25. | :33:28. | |
between Government and from non- profit organisations, charities, | :33:28. | :33:33. | |
philanthropy, that will fill this prij of the valley of death, | :33:33. | :33:37. | |
between excellent basic science, and -- bridge between the valley of | :33:37. | :33:41. | |
death, between excellent basic science and the financial issues. | :33:41. | :33:46. | |
Since the financial crash, money for new research has been trying up. | :33:46. | :33:49. | |
Cancer research would normally look to Government, charities or | :33:49. | :33:53. | |
business to take the work forward. Britain's largest cancer charity | :33:53. | :33:58. | |
has found it so hard to secure money and partners, it has set up | :33:58. | :34:02. | |
its own cancer investment fund. Cancer research UK's commercial arm | :34:02. | :34:08. | |
is spending �25 million, with equal funding from Europe, on this new | :34:08. | :34:11. | |
investment strategy. In the last five to ten years there have been | :34:11. | :34:15. | |
far fewer new small companies that we historically have used as our | :34:15. | :34:18. | |
development partners formed, because of what has happened in | :34:19. | :34:22. | |
venture capital. Secondly, the industry has migrated away from | :34:23. | :34:26. | |
early stage research, we really found it difficult to find places | :34:26. | :34:30. | |
to partner the projects. We have needed to do it ourselves, and the | :34:30. | :34:35. | |
fund is a mechanism to do that. Scientists at the institute | :34:35. | :34:39. | |
recently published exciting work on one form of inmuen know therapy, | :34:39. | :34:46. | |
using a virus that -- immunotherapy, using a virus that hitch as ride on | :34:46. | :34:50. | |
T-cells. It trigger the immune system to attack, a bit like a | :34:50. | :34:55. | |
vaccine. Is there more politicians should be doing to make sure the UK | :34:55. | :34:59. | |
stays at the cutting edge? Government can facilitate many | :34:59. | :35:03. | |
different aspects of this. It can help with the funding of basic | :35:03. | :35:08. | |
science and universities and research institutes, it can make it | :35:08. | :35:12. | |
easier for industries to operate and be successful. It can act as a | :35:12. | :35:15. | |
catalyst for bringing all these things together in a consortium, | :35:15. | :35:18. | |
for the good of cancer patients around the world. Is that happening | :35:18. | :35:21. | |
to best effect at the moment? think good efforts are being made, | :35:21. | :35:31. | |
:35:31. | :35:32. | ||
more can be done. Ben's tumour sample, and hopefully | :35:32. | :35:39. | |
the killer T-cells it contains are ready to travel. From the hospital, | :35:39. | :35:43. | |
straight to the team's cell laboratory some miles away. Here | :35:43. | :35:49. | |
they will be carefully nutured over the next few weeks. The best hope | :35:49. | :35:54. | |
is an immediate response, even if that doesn't or kur but there is | :35:54. | :35:59. | |
some shrinkage, that is a major benefit, doin the track something | :35:59. | :36:03. | |
else might come along and I will have access to that. Four weeks | :36:03. | :36:09. | |
later and we have an update, the team found relatively few killer T- | :36:09. | :36:12. | |
cells in the sample, but they have grown well in the lab, and will be | :36:12. | :36:16. | |
ready to reinject into Ben in early August. Whilst nothing is certain, | :36:16. | :36:25. | |
he has been told the treatment does have a 50-50 chance of working. | :36:25. | :36:28. | |
Drug resistence is one of the biggest challenges in the fight | :36:28. | :36:33. | |
against cancer. Doctors need a new weapon. And many scientists now | :36:33. | :36:38. | |
believe that answer lies within ourselves, our own immune systems. | :36:38. | :36:42. | |
But unless we find a way to pay to take the research like this beyond | :36:42. | :36:47. | |
a handful of patients, and attract in further funding, then however | :36:47. | :36:51. | |
good the science, other patients, like Ben, will have to carry on | :36:51. | :37:00. | |
waiting. Watching that was the science | :37:00. | :37:06. | |
minister, David Willets, a member of the science and technology | :37:06. | :37:11. | |
policy research unit at Suffolk university, and the chief clinician | :37:11. | :37:16. | |
at cancer research UK. Lets let lets, we could lead the world in | :37:16. | :37:19. | |
immunology, we could also, according to David Cameron, have | :37:19. | :37:23. | |
life sciences as the jewel in the crown of our economy, so why is | :37:23. | :37:31. | |
there a four-year freeze on the �4.6 billion science project, which | :37:31. | :37:35. | |
actually, over the time, with inflation, means that actually it | :37:35. | :37:40. | |
is a 10% cut in our overall science budget? We have protected the | :37:40. | :37:44. | |
science budget in cash terms, and actually. But there is a cut? | :37:44. | :37:48. | |
the medical research budget, partly because of the income that it gets | :37:48. | :37:52. | |
from previous discoveries, as being protected against inflation as well. | :37:52. | :37:58. | |
That money is going to medical research. Now, then, the medical | :37:58. | :38:02. | |
researchers are absolutely up for ideas on immunotherapy and other | :38:02. | :38:06. | |
developments, that is a decision, quite rightly, for the scientific | :38:06. | :38:10. | |
community, not me as a minister. you look at it in overall terms, | :38:10. | :38:14. | |
there is a 10% cut in the science budget. You may cut the science | :38:14. | :38:17. | |
budget in a different way to give more money elsewhere. But, in fact, | :38:17. | :38:22. | |
the overall impact is a 10% cut, when other countries, coming out of | :38:22. | :38:27. | |
deficit, looking at China, and looking at Germany, and also at | :38:27. | :38:31. | |
America, they are making the life sciences budget a priority. They | :38:31. | :38:34. | |
see the huge returns and benefits to their population of bucking the | :38:35. | :38:40. | |
trend in cut and investing more? And the science budget has been, we | :38:40. | :38:44. | |
are making life sciences a priority. Medical research, as it is enjoying | :38:45. | :38:47. | |
the benefits of previous discoveries, and has been protected | :38:47. | :38:51. | |
against inflation as well. On top of that, with the life sciences | :38:51. | :38:54. | |
strategy last December, we have put more money into the correct | :38:55. | :38:58. | |
challenge that was identified in your package, breaching the valley | :38:58. | :39:02. | |
of death, from the pure research sponsored by the Medical Research | :39:02. | :39:07. | |
Council, to commercial businesses. It is not nearly enough. From your | :39:07. | :39:12. | |
point of view, this gap that is leading to the valley of death, the | :39:12. | :39:15. | |
basic research in getting the trials complete and out to patients. | :39:15. | :39:18. | |
It doesn't need to be more money out of the British economy into | :39:18. | :39:22. | |
life sciences? First of all, I think the latest figures from the | :39:22. | :39:26. | |
latest campaign from science and engineering is there is a 14.6% | :39:26. | :39:31. | |
real court in the British science spending when you include capital | :39:31. | :39:35. | |
spending. This is at the same time when our competitors, Germany, for | :39:35. | :39:39. | |
example, has increase bid 15%. Innovation is very pack dependant, | :39:39. | :39:43. | |
it depends on innovation yesterday, if we are not in the game today, we | :39:43. | :39:48. | |
will not be in the game ten years time. It is better to get rid of | :39:48. | :39:54. | |
the Bev sit, and get in the game. David Cameron says words like life | :39:54. | :39:58. | |
sciences being the jewel in the crown, but if you are going to make | :39:58. | :40:03. | |
a cut of that extent, we will fall exponentially behind? We have a | :40:03. | :40:06. | |
world class science base, when tough decisions are being taken, we | :40:06. | :40:11. | |
have provided the cash protection, and including for more life | :40:11. | :40:16. | |
sciences, and extra initiatives of breaching the valley of death. | :40:16. | :40:19. | |
Interesting research that shows even in the US Government goes | :40:19. | :40:23. | |
closer to market in supporting life sciences. We are now doing the same | :40:23. | :40:27. | |
in Britain with our life sciences strategy. But the figures matter | :40:27. | :40:33. | |
n2012 the NIH, the National Institute of Health, one of the | :40:33. | :40:39. | |
main funders for pharmaceutical and biomedical research, spend �31 | :40:39. | :40:43. | |
billion. This �20 million donation is wonderful news, we are talking | :40:43. | :40:49. | |
about an area where one drug costs �1 billion. �20 million was your | :40:49. | :40:53. | |
announcement today from a philanthropist, it is a tremendous | :40:53. | :40:58. | |
and real gf gift, but �20 million is nothing? It is the largest | :40:58. | :41:02. | |
donation we have had. I think it is a recognition on the part of our | :41:02. | :41:06. | |
supporters, that this is a really exciting and vibrant area of | :41:06. | :41:09. | |
science, where the UK does have the potential to lead the world, | :41:09. | :41:12. | |
because of the partnership between the universities and the health | :41:12. | :41:18. | |
system, which has been invested in very substantially by Cancer | :41:18. | :41:22. | |
Research UK. Can philanthropy take the place of Government funding, or, | :41:23. | :41:26. | |
indeed, venture capital coming in with a lot of money? I think the | :41:26. | :41:30. | |
things have to work together. One of the things we understand about | :41:30. | :41:37. | |
inmuenology, is it is extremely complicated, it doesn't -- it | :41:37. | :41:41. | |
doesn't like being told what to do. We have to understand at a | :41:41. | :41:44. | |
fundamental level how these things work, that is not just what a | :41:44. | :41:48. | |
pharmaceutical company will do. It is rich scientific culture | :41:48. | :41:50. | |
dependant on all different streams of funding. Different streams of | :41:50. | :41:55. | |
funding? People talk about the ecosystem, and it sounds very | :41:55. | :41:59. | |
romantic, but when you look at who the different actors are in that | :41:59. | :42:03. | |
system, venture capital has been extremely problematic in this | :42:03. | :42:07. | |
industry, it is a high-risk, uncertain industry, where you have | :42:08. | :42:12. | |
14 years between discovery and commercial realisation, and they | :42:13. | :42:19. | |
want quick profits in low-risk areas. That is why you have all the | :42:19. | :42:29. | |
buy metric companies that produce a lot of money but have no results. | :42:29. | :42:33. | |
If you want patient capital, that should be coming, whether from | :42:33. | :42:37. | |
public funding n Brazil it comes from state investment bank, also, | :42:37. | :42:40. | |
it is fascinating, we have been talking about Barclays obviously a | :42:40. | :42:46. | |
lot in the last two weeks, Barclays and GSK, as well Aslam tro Zenica, | :42:46. | :42:52. | |
are three of the companies -- astro Zenica, who are three of the | :42:52. | :42:58. | |
companies who spend most on stock. GSK spends more on R & D than any | :42:58. | :43:02. | |
private company in Britain. If you look at King's Cross, you will see | :43:02. | :43:06. | |
Cancer Research UK, and the British Government through Medical Research | :43:06. | :43:09. | |
Councils and Britain's leading universities, coming together to | :43:09. | :43:14. | |
put half a million into a new medical research centre. Half a | :43:14. | :43:23. | |
that is a lot of money, but if you take what is said, �33 billion in | :43:23. | :43:27. | |
America? We are absolutely aware thater endlessly competing with | :43:27. | :43:31. | |
other environments, I still think - - that we are endlessly competing | :43:31. | :43:35. | |
with other environments, I'm still convinced with the life sciences | :43:35. | :43:38. | |
budget and the excellent universities, and other things, | :43:38. | :43:41. | |
that Britain is a world class player. We are competing with other | :43:41. | :43:44. | |
countries trying to raise their game. It is not that we don't have | :43:44. | :43:49. | |
great scientists who can actually, that can actually work on the | :43:49. | :43:52. | |
starting blocks, but is this valley of death getting us to a situation | :43:52. | :43:55. | |
where every NHS patient can get the treatment they want, and that takes | :43:56. | :44:00. | |
public money? I accept that, that is why, better than I would say | :44:00. | :44:03. | |
than any previous Government, we are focusing on getting the public | :44:03. | :44:07. | |
funding closer to market, and the NHS to buy the stuff. That way you | :44:07. | :44:13. | |
can bridge the gap. Can that happen, when, there is a real cut in the | :44:13. | :44:18. | |
science budget? We eventually put extra money into the technology | :44:18. | :44:23. | |
strategy board, which is putting in �90 million, alongside medical | :44:23. | :44:27. | |
research money, precisely to take ideas closer to market. That is | :44:27. | :44:32. | |
historically a valley of death in Britain. �90 million as a one-off | :44:32. | :44:36. | |
or annually or monthly? It is a continuing flow of investment. This | :44:36. | :44:41. | |
Government, with that life science catalyst fund. It is one �90 | :44:41. | :44:45. | |
million tranche? It is a continuing programme aimed at taking research | :44:45. | :44:49. | |
closer to commercialisation, because as was correct low argued, | :44:49. | :44:54. | |
that we need to supply that funding close to market. You said �90 | :44:54. | :45:00. | |
million, is it �90 million, or a year, or a month, or one tranche of | :45:00. | :45:05. | |
�90 million? It is �180 million over three years that will go into | :45:05. | :45:09. | |
this programme. Sorry, but at the same time, Pfizer has left, GSK is | :45:10. | :45:13. | |
leaving, others are leaving, where are they going? One of the | :45:13. | :45:17. | |
countries in the world that is spending the most public money. | :45:17. | :45:23. | |
�800 billion in the last 60 years has been spent by the US. Looking | :45:23. | :45:33. | |
:45:33. | :45:56. | ||
at tomorrow morning's front pages, There is to be no swan upping, the | :45:56. | :46:01. | |
annual census of swans has been going on since medieval times, | :46:01. | :46:06. | |
though the Monarch has long stopped eating them. It has been cancelled | :46:06. | :46:10. | |
because of the floods, if you are desperate to count swans, we can | :46:10. | :46:20. | |
:46:20. | :46:54. | ||
Hello, before we get any warm sunny weather there is more rain to come. | :46:54. | :46:57. | |
It stays wet on Wednesday, heavy showers follow the overnight rain | :46:57. | :47:00. | |
into Northern Ireland, we will see it turning showery across England | :47:00. | :47:04. | |
and Wales. The showers could be heavy, there will be some sunshine | :47:04. | :47:08. | |
between them in northern England. A few thundery showers will work | :47:08. | :47:13. | |
across the Midlands during the afternoon. Very few showers, London | :47:13. | :47:16. | |
and southwards, it may well stay dry. There will be a noticable | :47:16. | :47:19. | |
breeze blowing a strong south- westerly wind, it will take the | :47:19. | :47:23. | |
edge off the temperatures. A wet morning for the south west of | :47:23. | :47:26. | |
England and Wales, it will be followed by sunshine and showers, | :47:26. | :47:29. | |
most of the showers will be in the north. Some could be heavy. | :47:29. | :47:33. | |
Northern Ireland, where we get sunshine and heavy showers, the | :47:33. | :47:36. | |
rain may come back in the north later on in the day. It is still | :47:36. | :47:40. | |
there all day, across central, southern Scotland. There could be a | :47:40. | :47:44. |