28/02/2013

:00:11. > :00:13.Tonight, another year of failure at Tonight, another year of failure at

:00:13. > :00:14.Tonight, another year of failure at Tonight, another year of failure at

:00:14. > :00:15.the bank we all own as RBS the bank we all own as RBS

:00:15. > :00:17.the bank we all own as RBS announces more than �5 billion in

:00:17. > :00:18.announces more than �5 billion in announces more than �5 billion in

:00:18. > :00:19.announces more than �5 billion in losses. Will we ever get our money

:00:19. > :00:20.back? back?

:00:20. > :00:22.back? Generous bonuses are still being

:00:22. > :00:23.Generous bonuses are still being Generous bonuses are still being

:00:23. > :00:25.Generous bonuses are still being paid to RBS bankers. We will speak

:00:25. > :00:26.paid to RBS bankers. We will speak paid to RBS bankers. We will speak

:00:26. > :00:27.paid to RBS bankers. We will speak to the chairman of RBS, and debate

:00:27. > :00:31.to the chairman of RBS, and debate to the chairman of RBS, and debate

:00:31. > :00:32.European Union plans to cap all European Union plans to cap all

:00:32. > :00:34.bankers' bonuses, something David bankers' bonuses, something David

:00:34. > :00:36.Cameron is against. Cameron is against.

:00:36. > :00:37.And the Eastleigh by-election. And the Eastleigh by-election.

:00:37. > :00:38.The Conservatives in Westminster The Conservatives in Westminster

:00:38. > :00:39.The Conservatives in Westminster tonight are nervous they have come

:00:39. > :00:41.tonight are nervous they have come tonight are nervous they have come

:00:41. > :00:43.tonight are nervous they have come third, UKIP are saying they will be

:00:43. > :00:45.third, UKIP are saying they will be third, UKIP are saying they will be

:00:45. > :00:47.disappointed if they don't win here. disappointed if they don't win here.

:00:47. > :00:48.disappointed if they don't win here. The lady's not for turning. And,

:00:48. > :00:49.The lady's not for turning. And, The lady's not for turning. And,

:00:49. > :00:50.despite some women getting to the despite some women getting to the

:00:50. > :00:52.despite some women getting to the very top in politics, after this

:00:52. > :00:53.very top in politics, after this very top in politics, after this

:00:53. > :00:57.week's allegations of groping, just week's allegations of groping, just

:00:57. > :00:58.week's allegations of groping, just how sexist is British politics.

:00:58. > :01:00.how sexist is British politics. how sexist is British politics.

:01:00. > :01:01.Another worry about the food chain, Another worry about the food chain,

:01:01. > :01:02.Another worry about the food chain, the sheep virus which is

:01:03. > :01:04.the sheep virus which is threatening this year's lambing

:01:04. > :01:06.threatening this year's lambing threatening this year's lambing

:01:06. > :01:08.season and heading towards the UK. season and heading towards the UK.

:01:08. > :01:09.season and heading towards the UK. And goodbye to Pope Benedict, as

:01:09. > :01:11.And goodbye to Pope Benedict, as And goodbye to Pope Benedict, as

:01:11. > :01:12.And goodbye to Pope Benedict, as the Vatican lays on a show, we hear

:01:12. > :01:13.the Vatican lays on a show, we hear the Vatican lays on a show, we hear

:01:13. > :01:14.about the political manoeuvrings on about the political manoeuvrings on

:01:14. > :01:23.about the political manoeuvrings on about the political manoeuvrings on

:01:23. > :01:24.a new hope, that have already begun. a new hope, that have already begun.

:01:24. > :01:26.a new hope, that have already begun. Good evening. For several years now

:01:26. > :01:27.Good evening. For several years now Good evening. For several years now

:01:27. > :01:28.bankers have been the pantomime bankers have been the pantomime

:01:28. > :01:29.bankers have been the pantomime villains of British public life.

:01:29. > :01:32.villains of British public life. villains of British public life.

:01:32. > :01:32.Quite literally in some cases, with Quite literally in some cases, with

:01:32. > :01:35.Quite literally in some cases, with banker jokes making an appearance

:01:35. > :01:37.banker jokes making an appearance in Christmas pantomimes. The

:01:37. > :01:39.in Christmas pantomimes. The in Christmas pantomimes. The

:01:39. > :01:42.banking crisis, the fiddling of the banking crisis, the fiddling of the

:01:42. > :01:42.Libor rate, crazy bonuses Libor rate, crazy bonuses

:01:42. > :01:44.Libor rate, crazy bonuses apparently for failure. Plus from

:01:44. > :01:45.apparently for failure. Plus from apparently for failure. Plus from

:01:46. > :01:46.some top bankers an air of some top bankers an air of

:01:46. > :01:47.some top bankers an air of infallability rarely matched by the

:01:47. > :01:49.infallability rarely matched by the infallability rarely matched by the

:01:49. > :01:51.Pope, all of these things have Pope, all of these things have

:01:51. > :01:53.Pope, all of these things have outraged the public. The bank in

:01:53. > :01:55.outraged the public. The bank in outraged the public. The bank in

:01:55. > :01:56.which we, as tax-payers, have the which we, as tax-payers, have the

:01:56. > :01:57.which we, as tax-payers, have the biggest stake, RBS, posted large

:01:57. > :01:58.biggest stake, RBS, posted large biggest stake, RBS, posted large

:01:58. > :02:00.biggest stake, RBS, posted large losses. But those at the top say a

:02:00. > :02:02.losses. But those at the top say a losses. But those at the top say a

:02:02. > :02:04.losses. But those at the top say a new dawn is planned. It comes as

:02:04. > :02:05.new dawn is planned. It comes as new dawn is planned. It comes as

:02:05. > :02:05.new dawn is planned. It comes as the EU plans to cap bonuses. We

:02:05. > :02:07.the EU plans to cap bonuses. We the EU plans to cap bonuses. We

:02:07. > :02:08.discover that one of the key discover that one of the key

:02:08. > :02:09.players interested in perhaps players interested in perhaps

:02:09. > :02:13.players interested in perhaps players interested in perhaps

:02:13. > :02:15.taking a big slice of RBS has now taking a big slice of RBS has now

:02:15. > :02:16.taking a big slice of RBS has now pulled out. The RBS boss, Stephen

:02:16. > :02:17.pulled out. The RBS boss, Stephen pulled out. The RBS boss, Stephen

:02:17. > :02:18.Hester, says the event return of Hester, says the event return of

:02:18. > :02:19.Hester, says the event return of the bank to full private ownership

:02:19. > :02:22.the bank to full private ownership the bank to full private ownership

:02:22. > :02:22.the bank to full private ownership is the light at the end of the

:02:22. > :02:23.is the light at the end of the tunnel. Tax-payers will doubtless

:02:23. > :02:24.tunnel. Tax-payers will doubtless tunnel. Tax-payers will doubtless

:02:24. > :02:26.tunnel. Tax-payers will doubtless feel the cost of bailing out that

:02:26. > :02:27.feel the cost of bailing out that feel the cost of bailing out that

:02:27. > :02:29.feel the cost of bailing out that bank has been too much and for too

:02:29. > :02:30.bank has been too much and for too bank has been too much and for too

:02:30. > :02:32.long. We enter this financial long. We enter this financial

:02:32. > :02:34.long. We enter this financial tunnel in October 2008, the

:02:34. > :02:36.tunnel in October 2008, the previous Government pumped �45

:02:36. > :02:37.previous Government pumped �45 previous Government pumped �45

:02:37. > :02:38.billion in emergency funding into billion in emergency funding into

:02:38. > :02:39.billion in emergency funding into billion in emergency funding into

:02:39. > :02:40.bank about to die. On top of that bank about to die. On top of that

:02:40. > :02:42.bank about to die. On top of that bank about to die. On top of that

:02:42. > :02:43.RBS was able to use the Government RBS was able to use the Government

:02:43. > :02:44.RBS was able to use the Government Asamoah set protection scheme to

:02:44. > :02:46.Asamoah set protection scheme to Asamoah set protection scheme to

:02:46. > :02:48.shield �200 billion worth of toxic shield �200 billion worth of toxic

:02:48. > :02:49.investments. In total, the investments. In total, the

:02:49. > :02:51.Government provided implicit and Government provided implicit and

:02:51. > :02:53.Government provided implicit and explicit support to the entire

:02:53. > :02:54.explicit support to the entire explicit support to the entire

:02:54. > :02:55.banking system worth �1.16 trillion. banking system worth �1.16 trillion.

:02:55. > :02:56.banking system worth �1.16 trillion. banking system worth �1.16 trillion.

:02:56. > :02:58.In doing so they put much of In doing so they put much of

:02:58. > :02:58.In doing so they put much of Britain's balance sheet on the line,

:02:58. > :03:02.Britain's balance sheet on the line, Britain's balance sheet on the line,

:03:02. > :03:04.to protect its banks from complete collapse.

:03:04. > :03:05.collapse. collapse.

:03:05. > :03:06.Today the RBS boss said more Today the RBS boss said more

:03:06. > :03:08.Today the RBS boss said more clearly than after that RBS was

:03:08. > :03:09.clearly than after that RBS was clearly than after that RBS was

:03:09. > :03:10.being primed for sale, almost being primed for sale, almost

:03:10. > :03:11.being primed for sale, almost certainly starting next year.

:03:11. > :03:12.certainly starting next year. certainly starting next year.

:03:12. > :03:13.Government can sell their shares Government can sell their shares

:03:13. > :03:15.Government can sell their shares tomorrow, as far as I'm concerned.

:03:15. > :03:16.tomorrow, as far as I'm concerned. tomorrow, as far as I'm concerned.

:03:16. > :03:19.But realistically speaking, we hope But realistically speaking, we hope

:03:19. > :03:20.But realistically speaking, we hope But realistically speaking, we hope

:03:20. > :03:22.that we can deliver a much more that we can deliver a much more

:03:22. > :03:24.that we can deliver a much more normal-looking company, as we move

:03:24. > :03:26.normal-looking company, as we move normal-looking company, as we move

:03:26. > :03:27.through 2014. And if that is through 2014. And if that is

:03:27. > :03:28.through 2014. And if that is coupled with the economy itself

:03:28. > :03:29.coupled with the economy itself coupled with the economy itself

:03:29. > :03:32.recovering, which I think is needed recovering, which I think is needed

:03:32. > :03:34.recovering, which I think is needed to make the stock market cheerful,

:03:34. > :03:35.to make the stock market cheerful, to make the stock market cheerful,

:03:35. > :03:37.those two things should provide a those two things should provide a

:03:37. > :03:39.those two things should provide a platform for the taxpayer to start

:03:39. > :03:39.platform for the taxpayer to start platform for the taxpayer to start

:03:39. > :03:41.recouping money. What are the recouping money. What are the

:03:41. > :03:42.recouping money. What are the options facing the bank now to

:03:42. > :03:43.options facing the bank now to options facing the bank now to

:03:43. > :03:45.repay tax-payers? A trade sale is repay tax-payers? A trade sale is

:03:45. > :03:45.repay tax-payers? A trade sale is the most viable option, where

:03:45. > :03:47.the most viable option, where the most viable option, where

:03:47. > :03:47.the most viable option, where tranches of the bank would be sold

:03:47. > :03:49.tranches of the bank would be sold tranches of the bank would be sold

:03:49. > :03:50.off. The Government hopes to have off. The Government hopes to have

:03:50. > :03:52.off. The Government hopes to have at least started that before the

:03:52. > :03:53.at least started that before the 2015 general election. Full

:03:53. > :03:54.2015 general election. Full 2015 general election. Full

:03:54. > :03:55.nationalisation has been mooted by nationalisation has been mooted by

:03:55. > :03:56.nationalisation has been mooted by both left and right. That might

:03:56. > :03:58.both left and right. That might both left and right. That might

:03:58. > :03:59.both left and right. That might have worked two years a but now

:03:59. > :04:00.have worked two years a but now have worked two years a but now

:04:00. > :04:03.looking unlikely. Then there is the looking unlikely. Then there is the

:04:03. > :04:04.looking unlikely. Then there is the plan to hand back shares directly

:04:04. > :04:06.plan to hand back shares directly to tax-payers. George Osborne

:04:06. > :04:08.to tax-payers. George Osborne to tax-payers. George Osborne

:04:08. > :04:08.touted it, before he assumed high touted it, before he assumed high

:04:08. > :04:10.touted it, before he assumed high office, but Vincent Cable and Nick

:04:10. > :04:12.office, but Vincent Cable and Nick office, but Vincent Cable and Nick

:04:12. > :04:13.Clegg still like the idea, despite Clegg still like the idea, despite

:04:13. > :04:15.Clegg still like the idea, despite its impracticalities. But some in

:04:15. > :04:16.its impracticalities. But some in its impracticalities. But some in

:04:16. > :04:17.its impracticalities. But some in the City feel selling off any part

:04:17. > :04:19.the City feel selling off any part the City feel selling off any part

:04:19. > :04:20.the City feel selling off any part of the bank before 2015 is fanciful.

:04:20. > :04:21.of the bank before 2015 is fanciful. of the bank before 2015 is fanciful.

:04:21. > :04:22.of the bank before 2015 is fanciful. It is highly ambitious, and in fact,

:04:22. > :04:24.It is highly ambitious, and in fact, It is highly ambitious, and in fact,

:04:24. > :04:25.highly unrealistic. I don't foresee highly unrealistic. I don't foresee

:04:25. > :04:27.highly unrealistic. I don't foresee the Government being able to sell

:04:27. > :04:29.the Government being able to sell the Government being able to sell

:04:29. > :04:30.any material portion of its any material portion of its

:04:30. > :04:31.any material portion of its investment at anywhere close to its

:04:31. > :04:32.investment at anywhere close to its investment at anywhere close to its

:04:32. > :04:33.average acquisition price. And if average acquisition price. And if

:04:33. > :04:36.average acquisition price. And if they were to sell, they should

:04:36. > :04:37.they were to sell, they should they were to sell, they should

:04:37. > :04:43.start selling now? Yeah, the shares start selling now? Yeah, the shares

:04:43. > :04:44.start selling now? Yeah, the shares start selling now? Yeah, the shares

:04:44. > :04:45.have been trading up in the �3.50- have been trading up in the �3.50-

:04:45. > :04:48.have been trading up in the �3.50- have been trading up in the �3.50-

:04:48. > :04:50.�3.60 range, my view is they are �3.60 range, my view is they are

:04:50. > :04:53.�3.60 range, my view is they are currently worth �2.90, therefore a

:04:53. > :04:57.currently worth �2.90, therefore a rational investor would go

:04:57. > :04:58.rational investor would go rational investor would go

:04:58. > :04:58.underweight to RBS. Shares rose 4% underweight to RBS. Shares rose 4%

:04:58. > :05:00.underweight to RBS. Shares rose 4% since last September, they are

:05:00. > :05:00.since last September, they are since last September, they are

:05:00. > :05:03.since last September, they are still worth a tent of their 2008

:05:03. > :05:04.still worth a tent of their 2008 still worth a tent of their 2008

:05:04. > :05:06.value. If the Government were to value. If the Government were to

:05:06. > :05:07.value. If the Government were to sell their RBS shares today, tax-

:05:07. > :05:10.sell their RBS shares today, tax- sell their RBS shares today, tax-

:05:10. > :05:10.payers would write off �15 billion payers would write off �15 billion

:05:10. > :05:12.payers would write off �15 billion in losses. That sell-off process

:05:12. > :05:14.in losses. That sell-off process in losses. That sell-off process

:05:14. > :05:14.has been further affected, last has been further affected, last

:05:14. > :05:16.has been further affected, last year Newsnight revealed that Abu

:05:16. > :05:16.year Newsnight revealed that Abu year Newsnight revealed that Abu

:05:16. > :05:17.year Newsnight revealed that Abu Dhabi was in talks with the British

:05:17. > :05:18.Dhabi was in talks with the British Dhabi was in talks with the British

:05:18. > :05:19.Dhabi was in talks with the British Government to buy a stake in RBS,

:05:19. > :05:20.Government to buy a stake in RBS, Government to buy a stake in RBS,

:05:21. > :05:22.Government to buy a stake in RBS, today we can reveal those talks are

:05:22. > :05:24.today we can reveal those talks are today we can reveal those talks are

:05:24. > :05:25.well and truly over. Doubtless they well and truly over. Doubtless they

:05:25. > :05:26.well and truly over. Doubtless they and other would-be investors have

:05:26. > :05:28.and other would-be investors have and other would-be investors have

:05:28. > :05:29.and other would-be investors have been affected by a year of record

:05:29. > :05:31.been affected by a year of record fines, scandal and political

:05:31. > :05:34.fines, scandal and political fines, scandal and political

:05:34. > :05:34.machinations, which has damaged the machinations, which has damaged the

:05:34. > :05:35.machinations, which has damaged the entire British banking sector. And

:05:35. > :05:37.entire British banking sector. And entire British banking sector. And

:05:37. > :05:38.there is further trouble ahead. EU there is further trouble ahead. EU

:05:38. > :05:39.there is further trouble ahead. EU agreed today that banker bonuses

:05:39. > :05:42.agreed today that banker bonuses agreed today that banker bonuses

:05:42. > :05:43.should, in future, not exceed their should, in future, not exceed their

:05:43. > :05:44.fixed salaries, unless shareholders fixed salaries, unless shareholders

:05:44. > :05:45.specifically approve. Britain specifically approve. Britain

:05:45. > :05:46.specifically approve. Britain specifically approve. Britain

:05:46. > :05:48.wasn't able to block it, so the wasn't able to block it, so the

:05:48. > :05:49.wasn't able to block it, so the Treasury is now forced to

:05:49. > :05:51.Treasury is now forced to passionately defend the banking

:05:51. > :05:52.passionately defend the banking passionately defend the banking

:05:52. > :05:53.passionately defend the banking fraternity in Brussels, in a way it

:05:53. > :05:54.fraternity in Brussels, in a way it fraternity in Brussels, in a way it

:05:55. > :05:56.wouldn't dare do back home. They wouldn't dare do back home. They

:05:56. > :05:58.wouldn't dare do back home. They may be troublemakers, but they are

:05:58. > :05:59.may be troublemakers, but they are our troublemakers. The Prime

:05:59. > :06:00.our troublemakers. The Prime Minister reacted philosophically to

:06:00. > :06:02.Minister reacted philosophically to Minister reacted philosophically to

:06:02. > :06:03.the new cap, but his less the new cap, but his less

:06:03. > :06:04.diplomatic Conservative colleague diplomatic Conservative colleague

:06:04. > :06:05.diplomatic Conservative colleague was more forthright. You cannot

:06:05. > :06:06.was more forthright. You cannot was more forthright. You cannot

:06:06. > :06:08.bring in this type of regulation bring in this type of regulation

:06:08. > :06:11.bring in this type of regulation without running the risk that these

:06:11. > :06:14.without running the risk that these without running the risk that these

:06:14. > :06:16.guys were fundamentally fleet of guys were fundamentally fleet of

:06:16. > :06:17.guys were fundamentally fleet of guys were fundamentally fleet of

:06:17. > :06:18.foot, a my grant people, going from foot, a my grant people, going from

:06:18. > :06:20.foot, a my grant people, going from London, zur Rick, Hong Kong,

:06:20. > :06:21.London, zur Rick, Hong Kong, London, zur Rick, Hong Kong,

:06:21. > :06:22.Singapore, and the losers aren't Singapore, and the losers aren't

:06:22. > :06:23.Singapore, and the losers aren't Singapore, and the losers aren't

:06:23. > :06:24.just us in London, it is the whole just us in London, it is the whole

:06:24. > :06:26.just us in London, it is the whole of the European Union. The banks

:06:26. > :06:27.of the European Union. The banks of the European Union. The banks

:06:27. > :06:29.could try to circumvent any new could try to circumvent any new

:06:29. > :06:31.restrictions by simply raising restrictions by simply raising

:06:31. > :06:32.restrictions by simply raising overall salary level, but many feel

:06:32. > :06:34.overall salary level, but many feel overall salary level, but many feel

:06:34. > :06:35.that the culture has now changed. that the culture has now changed.

:06:35. > :06:36.that the culture has now changed. Bankers recognise the whole climate

:06:36. > :06:36.Bankers recognise the whole climate Bankers recognise the whole climate

:06:37. > :06:39.Bankers recognise the whole climate has changed. Look at the outcry the

:06:39. > :06:40.has changed. Look at the outcry the has changed. Look at the outcry the

:06:40. > :06:41.other day when some banks started other day when some banks started

:06:41. > :06:42.other day when some banks started to contemplate pushing bonuses into

:06:42. > :06:43.to contemplate pushing bonuses into to contemplate pushing bonuses into

:06:43. > :06:44.next year, where some of their next year, where some of their

:06:44. > :06:46.next year, where some of their people would have paid slightly

:06:46. > :06:46.people would have paid slightly people would have paid slightly

:06:46. > :06:47.people would have paid slightly less tax. They don't do t they have

:06:47. > :06:48.less tax. They don't do t they have less tax. They don't do t they have

:06:48. > :06:49.less tax. They don't do t they have got the integrity bug at the top,

:06:49. > :06:49.got the integrity bug at the top, got the integrity bug at the top,

:06:49. > :06:51.got the integrity bug at the top, we need to see it coming through

:06:51. > :06:53.now. now.

:06:53. > :06:54.now. The banking crisis has now caused

:06:54. > :06:55.The banking crisis has now caused The banking crisis has now caused

:06:55. > :06:56.more lasting damage than the Great more lasting damage than the Great

:06:56. > :06:58.more lasting damage than the Great Depression, and so policy makers

:06:58. > :06:59.Depression, and so policy makers Depression, and so policy makers

:06:59. > :07:01.are doing everything to ensure that are doing everything to ensure that

:07:01. > :07:02.are doing everything to ensure that the economy emerges from this

:07:02. > :07:03.the economy emerges from this the economy emerges from this

:07:03. > :07:05.current great recession. But how do current great recession. But how do

:07:05. > :07:07.current great recession. But how do you do that without damaging

:07:07. > :07:08.you do that without damaging Britain's most successful economic

:07:08. > :07:09.Britain's most successful economic Britain's most successful economic

:07:09. > :07:11.engine, banking? The fate of RBS engine, banking? The fate of RBS

:07:11. > :07:14.may be a clue. may be a clue.

:07:14. > :07:15.may be a clue. may be a clue.

:07:15. > :07:17.Earlier today I went to RBS London Earlier today I went to RBS London

:07:17. > :07:20.Earlier today I went to RBS London headquarters to meet the bank's

:07:20. > :07:20.headquarters to meet the bank's headquarters to meet the bank's

:07:20. > :07:22.chairman, Sir Philip Hampton. Would chairman, Sir Philip Hampton. Would

:07:22. > :07:24.chairman, Sir Philip Hampton. Would you like to apologise to the

:07:24. > :07:25.you like to apologise to the you like to apologise to the

:07:25. > :07:27.British people as your shareholders British people as your shareholders

:07:28. > :07:28.British people as your shareholders for what are you pretty dismal

:07:28. > :07:30.for what are you pretty dismal for what are you pretty dismal

:07:30. > :07:31.results? The results are in two results? The results are in two

:07:31. > :07:32.results? The results are in two results? The results are in two

:07:32. > :07:33.parts. The first part is that our parts. The first part is that our

:07:33. > :07:36.core businesses, the long-term core businesses, the long-term

:07:36. > :07:37.businesses, the businesses this businesses, the businesses this

:07:37. > :07:38.businesses, the businesses this company has always had have

:07:38. > :07:39.company has always had have company has always had have

:07:39. > :07:40.actually delivered very good result. actually delivered very good result.

:07:40. > :07:42.actually delivered very good result. Our core businesses have delivered

:07:42. > :07:43.Our core businesses have delivered Our core businesses have delivered

:07:43. > :07:45.Our core businesses have delivered a profit of �6.3 billion in 2012

:07:45. > :07:46.a profit of �6.3 billion in 2012 a profit of �6.3 billion in 2012

:07:46. > :07:47.that is really about the future. that is really about the future.

:07:47. > :07:48.that is really about the future. Unfortunately we are still clearing

:07:48. > :07:50.Unfortunately we are still clearing Unfortunately we are still clearing

:07:50. > :07:51.up very substantial problems that up very substantial problems that

:07:51. > :07:53.up very substantial problems that arose largely, but not entirely,

:07:53. > :07:55.arose largely, but not entirely, arose largely, but not entirely,

:07:55. > :07:56.largly before the financial crisis largly before the financial crisis

:07:56. > :07:57.of mis-selling scandals, interest of mis-selling scandals, interest

:07:58. > :07:59.of mis-selling scandals, interest rate swaps, PPI, things people know

:07:59. > :08:00.rate swaps, PPI, things people know rate swaps, PPI, things people know

:08:00. > :08:01.about. And this awful Libor scandal. about. And this awful Libor scandal.

:08:01. > :08:03.about. And this awful Libor scandal. about. And this awful Libor scandal.

:08:03. > :08:04.They have all hit our results very, They have all hit our results very,

:08:04. > :08:05.They have all hit our results very, very hard. We don't expect charges

:08:05. > :08:07.very hard. We don't expect charges very hard. We don't expect charges

:08:07. > :08:08.very hard. We don't expect charges of that level to come in the future.

:08:09. > :08:11.of that level to come in the future. of that level to come in the future.

:08:11. > :08:12.of that level to come in the future. So, it is a mixed bag, and overall

:08:12. > :08:13.So, it is a mixed bag, and overall So, it is a mixed bag, and overall

:08:13. > :08:14.there is a substantial loss. We there is a substantial loss. We

:08:14. > :08:17.there is a substantial loss. We don't expect to see this again.

:08:17. > :08:18.don't expect to see this again. don't expect to see this again.

:08:18. > :08:19.There have been years of There have been years of

:08:19. > :08:21.disappointment, and the official disappointment, and the official

:08:21. > :08:22.disappointment, and the official statement said you were chastened

:08:22. > :08:23.statement said you were chastened statement said you were chastened

:08:23. > :08:24.statement said you were chastened by this, I think people at home

:08:24. > :08:24.by this, I think people at home by this, I think people at home

:08:25. > :08:26.by this, I think people at home will wonder how much will you need

:08:26. > :08:28.will wonder how much will you need will wonder how much will you need

:08:29. > :08:30.before things turn around? We have before things turn around? We have

:08:30. > :08:31.before things turn around? We have taken �900 billion worth of assets

:08:31. > :08:33.taken �900 billion worth of assets taken �900 billion worth of assets

:08:33. > :08:34.off the balance sheet. We have off the balance sheet. We have

:08:34. > :08:35.revamped processes for governance revamped processes for governance

:08:35. > :08:37.revamped processes for governance revamped processes for governance

:08:37. > :08:39.and risk, it is a huge turn around and risk, it is a huge turn around

:08:39. > :08:40.taking place. Disappointingly, taking place. Disappointingly,

:08:40. > :08:41.taking place. Disappointingly, taking place. Disappointingly,

:08:41. > :08:42.things are coming back from a time things are coming back from a time

:08:42. > :08:44.things are coming back from a time before the financial crisis, all

:08:44. > :08:45.before the financial crisis, all before the financial crisis, all

:08:45. > :08:46.this mis-selling stuff is from the this mis-selling stuff is from the

:08:46. > :08:48.this mis-selling stuff is from the early noughties or up until 2008,

:08:48. > :08:49.early noughties or up until 2008, early noughties or up until 2008,

:08:49. > :08:50.early noughties or up until 2008, early noughties or up until 2008,

:08:50. > :08:51.nearly all of it. In a way that is nearly all of it. In a way that is

:08:51. > :08:51.nearly all of it. In a way that is nearly all of it. In a way that is

:08:51. > :08:53.worse, in other words it will look worse, in other words it will look

:08:53. > :08:54.worse, in other words it will look worse, in other words it will look

:08:54. > :08:55.to people sitting at home as if to people sitting at home as if

:08:55. > :08:56.to people sitting at home as if there is something still rotten in

:08:56. > :08:57.there is something still rotten in there is something still rotten in

:08:57. > :08:58.British banks, and they will look British banks, and they will look

:08:58. > :08:59.British banks, and they will look British banks, and they will look

:08:59. > :09:02.at this and think these are self- at this and think these are self-

:09:02. > :09:03.at this and think these are self- inflicted wounds, as you say, mis-

:09:03. > :09:04.inflicted wounds, as you say, mis- inflicted wounds, as you say, mis-

:09:05. > :09:06.selling, and then attempts to fix selling, and then attempts to fix

:09:06. > :09:07.selling, and then attempts to fix the Libor rate. Although it is

:09:07. > :09:09.the Libor rate. Although it is the Libor rate. Although it is

:09:09. > :09:10.coming out now and the financial coming out now and the financial

:09:10. > :09:12.coming out now and the financial implications are now realised, it

:09:12. > :09:13.implications are now realised, it implications are now realised, it

:09:13. > :09:14.is important to remember the is important to remember the

:09:14. > :09:16.is important to remember the is important to remember the

:09:16. > :09:17.behaviour that led to it is very behaviour that led to it is very

:09:17. > :09:18.largely in the past. largely in the past.

:09:18. > :09:19.largely in the past. Can you explain to the British

:09:19. > :09:21.Can you explain to the British Can you explain to the British

:09:21. > :09:22.Can you explain to the British people who own in bank, or most of

:09:22. > :09:23.people who own in bank, or most of people who own in bank, or most of

:09:23. > :09:24.people who own in bank, or most of it, why it is appropriate to still

:09:24. > :09:26.it, why it is appropriate to still it, why it is appropriate to still

:09:26. > :09:30.pay bonuses to investment bankers, pay bonuses to investment bankers,

:09:30. > :09:31.pay bonuses to investment bankers, pay bonuses to investment bankers,

:09:31. > :09:32.when you are posting huge losses Of when you are posting huge losses Of

:09:32. > :09:34.when you are posting huge losses Of when you are posting huge losses Of

:09:34. > :09:34.our money? We have been leading the our money? We have been leading the

:09:34. > :09:35.our money? We have been leading the way in reducing bonuses. Our

:09:35. > :09:36.way in reducing bonuses. Our way in reducing bonuses. Our

:09:36. > :09:37.bonuses in investment banking are bonuses in investment banking are

:09:37. > :09:37.bonuses in investment banking are bonuses in investment banking are

:09:37. > :09:39.less than a quarter of what they less than a quarter of what they

:09:39. > :09:40.less than a quarter of what they were four or five years. People

:09:40. > :09:41.were four or five years. People were four or five years. People

:09:41. > :09:42.were four or five years. People will think you are just less bad

:09:42. > :09:43.will think you are just less bad will think you are just less bad

:09:43. > :09:44.will think you are just less bad than you used to be and less bad

:09:44. > :09:45.than you used to be and less bad than you used to be and less bad

:09:45. > :09:47.than the others, it doesn't mean than the others, it doesn't mean

:09:47. > :09:47.than the others, it doesn't mean than the others, it doesn't mean

:09:47. > :09:48.you are good? I still think some you are good? I still think some

:09:48. > :09:49.you are good? I still think some you are good? I still think some

:09:49. > :09:50.elements of pay in some places are elements of pay in some places are

:09:50. > :09:51.elements of pay in some places are elements of pay in some places are

:09:51. > :09:52.still too high, and will, in my still too high, and will, in my

:09:52. > :09:53.still too high, and will, in my view, continue to come down. We

:09:53. > :09:54.view, continue to come down. We view, continue to come down. We

:09:54. > :09:55.view, continue to come down. We also have to live in the market

:09:55. > :09:56.also have to live in the market also have to live in the market

:09:56. > :09:57.also have to live in the market place that we are in. This is a

:09:57. > :09:57.place that we are in. This is a place that we are in. This is a

:09:57. > :10:00.very competitive market place for very competitive market place for

:10:00. > :10:00.very competitive market place for very competitive market place for

:10:00. > :10:01.talent. I can show you other banks talent. I can show you other banks

:10:01. > :10:02.talent. I can show you other banks talent. I can show you other banks

:10:02. > :10:03.in the City of London, in New York in the City of London, in New York

:10:03. > :10:04.in the City of London, in New York and other places where we operate,

:10:04. > :10:05.and other places where we operate, and other places where we operate,

:10:05. > :10:06.where bonus levels are significant where bonus levels are significant

:10:07. > :10:07.where bonus levels are significant where bonus levels are significant

:10:08. > :10:08.low higher than at RBS. We have to low higher than at RBS. We have to

:10:08. > :10:09.low higher than at RBS. We have to compete for the same talent. We

:10:09. > :10:10.compete for the same talent. We compete for the same talent. We

:10:10. > :10:12.compete for the same talent. We have to get people in, and we have

:10:12. > :10:12.have to get people in, and we have have to get people in, and we have

:10:13. > :10:15.to retain them. Can you understand to retain them. Can you understand

:10:15. > :10:16.to retain them. Can you understand to retain them. Can you understand

:10:16. > :10:17.why the European Union wants to cap why the European Union wants to cap

:10:17. > :10:18.why the European Union wants to cap why the European Union wants to cap

:10:18. > :10:18.banker bonuses? My own view is some banker bonuses? My own view is some

:10:19. > :10:19.banker bonuses? My own view is some of the new regulation might have

:10:19. > :10:21.of the new regulation might have of the new regulation might have

:10:21. > :10:23.been more effective a few yearsing, been more effective a few yearsing,

:10:23. > :10:24.been more effective a few yearsing, been more effective a few yearsing,

:10:24. > :10:26.and now it looks a little -- a and now it looks a little -- a

:10:26. > :10:27.and now it looks a little -- a and now it looks a little -- a

:10:27. > :10:28.years ago, and now it looks like years ago, and now it looks like

:10:28. > :10:31.years ago, and now it looks like closing the stable door after the

:10:31. > :10:32.closing the stable door after the closing the stable door after the

:10:32. > :10:33.closing the stable door after the horse has bolted. How do you say to

:10:34. > :10:35.horse has bolted. How do you say to horse has bolted. How do you say to

:10:35. > :10:38.David Cameron and Boris Johnson David Cameron and Boris Johnson

:10:38. > :10:39.David Cameron and Boris Johnson David Cameron and Boris Johnson

:10:39. > :10:40.that you do live in a competitive that you do live in a competitive

:10:40. > :10:41.that you do live in a competitive interest, and if these measures go

:10:41. > :10:42.interest, and if these measures go interest, and if these measures go

:10:42. > :10:43.interest, and if these measures go forward you will lose out to the

:10:43. > :10:44.forward you will lose out to the forward you will lose out to the

:10:44. > :10:44.United States, Dubai and other United States, Dubai and other

:10:44. > :10:45.United States, Dubai and other United States, Dubai and other

:10:46. > :10:46.places? We have to take it as a places? We have to take it as a

:10:46. > :10:48.places? We have to take it as a places? We have to take it as a

:10:48. > :10:49.significant risk, in my view it is significant risk, in my view it is

:10:49. > :10:50.significant risk, in my view it is overstated a lot. London has

:10:50. > :10:51.overstated a lot. London has fantastic capablities that have

:10:51. > :10:52.fantastic capablities that have fantastic capablities that have

:10:52. > :10:53.endured all sorts of pressures over endured all sorts of pressures over

:10:53. > :10:54.endured all sorts of pressures over endured all sorts of pressures over

:10:54. > :10:55.a long period of time. London over a long period of time. London over

:10:55. > :10:56.a long period of time. London over a long period of time. London over

:10:56. > :10:58.the last 20 years in particular has the last 20 years in particular has

:10:58. > :10:58.the last 20 years in particular has been building its capability. But

:10:58. > :11:02.been building its capability. But been building its capability. But

:11:02. > :11:02.London has also taken a big London has also taken a big

:11:02. > :11:04.London has also taken a big reputational knock. It is big

:11:04. > :11:05.reputational knock. It is big reputational knock. It is big

:11:05. > :11:07.source of profit and taxation that source of profit and taxation that

:11:07. > :11:08.source of profit and taxation that helps the UK economy enormously. It

:11:08. > :11:09.helps the UK economy enormously. It helps the UK economy enormously. It

:11:09. > :11:10.is very important we continue to is very important we continue to

:11:10. > :11:11.is very important we continue to is very important we continue to

:11:11. > :11:12.protect it. Can we end in the last protect it. Can we end in the last

:11:12. > :11:13.protect it. Can we end in the last minute or two just talking about

:11:13. > :11:14.minute or two just talking about minute or two just talking about

:11:14. > :11:15.the tax-payers again. This is the tax-payers again. This is

:11:15. > :11:17.the tax-payers again. This is really the issue, because of the

:11:17. > :11:18.really the issue, because of the really the issue, because of the

:11:18. > :11:19.really the issue, because of the way in which you are owned. When

:11:19. > :11:21.way in which you are owned. When way in which you are owned. When

:11:21. > :11:23.way in which you are owned. When 82% or so was bought by the British

:11:23. > :11:23.82% or so was bought by the British 82% or so was bought by the British

:11:23. > :11:24.taxpayer, the shares were at 500p, taxpayer, the shares were at 500p,

:11:24. > :11:25.taxpayer, the shares were at 500p, taxpayer, the shares were at 500p,

:11:25. > :11:26.now they have gone down, so that if now they have gone down, so that if

:11:26. > :11:27.now they have gone down, so that if now they have gone down, so that if

:11:27. > :11:29.you were to sell the whole company you were to sell the whole company

:11:29. > :11:30.you were to sell the whole company today there would be another loss

:11:30. > :11:31.today there would be another loss today there would be another loss

:11:31. > :11:32.today there would be another loss of �15 billion. Why should we be

:11:32. > :11:34.of �15 billion. Why should we be of �15 billion. Why should we be

:11:34. > :11:35.confident that when this bank is confident that when this bank is

:11:35. > :11:36.confident that when this bank is finally sold, perhaps in 2015, it

:11:36. > :11:37.finally sold, perhaps in 2015, it finally sold, perhaps in 2015, it

:11:37. > :11:38.finally sold, perhaps in 2015, it won't be another huge loss. Our job

:11:38. > :11:39.won't be another huge loss. Our job won't be another huge loss. Our job

:11:39. > :11:39.won't be another huge loss. Our job won't be another huge loss. Our job

:11:39. > :11:40.is to fix the bank as soon as we is to fix the bank as soon as we

:11:40. > :11:41.is to fix the bank as soon as we possibly can and give the options

:11:41. > :11:41.possibly can and give the options possibly can and give the options

:11:42. > :11:43.possibly can and give the options to the Government to sell as soon

:11:43. > :11:44.to the Government to sell as soon to the Government to sell as soon

:11:44. > :11:45.to the Government to sell as soon as they want to. Our target, which

:11:45. > :11:46.as they want to. Our target, which as they want to. Our target, which

:11:46. > :11:47.as they want to. Our target, which is a tough target is to try to

:11:47. > :11:48.is a tough target is to try to is a tough target is to try to

:11:48. > :11:50.finish the reconstruction of the finish the reconstruction of the

:11:50. > :11:51.finish the reconstruction of the bank and have a profitable, sound,

:11:51. > :11:52.bank and have a profitable, sound, bank and have a profitable, sound,

:11:52. > :11:53.stable bank, during the course of stable bank, during the course of

:11:53. > :11:55.stable bank, during the course of stable bank, during the course of

:11:55. > :11:57.2014, so the Government can look at 2014, so the Government can look at

:11:57. > :11:58.2014, so the Government can look at 2014, so the Government can look at

:11:58. > :11:59.how it want to dispose of its how it want to dispose of its

:11:59. > :12:01.how it want to dispose of its stakes. Finally 2014, if we come

:12:01. > :12:01.stakes. Finally 2014, if we come stakes. Finally 2014, if we come

:12:01. > :12:05.stakes. Finally 2014, if we come back next year you will be in

:12:05. > :12:06.back next year you will be in back next year you will be in

:12:06. > :12:07.profit? We expect to be profitable, profit? We expect to be profitable,

:12:07. > :12:08.profit? We expect to be profitable, absolutely. We are profitable for

:12:08. > :12:10.absolutely. We are profitable for absolutely. We are profitable for

:12:10. > :12:11.the continuing business. We have the continuing business. We have

:12:11. > :12:13.substantial and very regretable substantial and very regretable

:12:13. > :12:15.substantial and very regretable legacy charges still coming through.

:12:15. > :12:16.legacy charges still coming through. legacy charges still coming through.

:12:16. > :12:17.There is a clear division between There is a clear division between

:12:17. > :12:18.There is a clear division between There is a clear division between

:12:18. > :12:18.those who think that if the banks those who think that if the banks

:12:18. > :12:19.those who think that if the banks do not cut bonuses someone will

:12:19. > :12:20.do not cut bonuses someone will do not cut bonuses someone will

:12:20. > :12:21.do not cut bonuses someone will have to do it for them and those

:12:21. > :12:22.have to do it for them and those have to do it for them and those

:12:22. > :12:23.like the Prime Minister, David like the Prime Minister, David

:12:23. > :12:23.like the Prime Minister, David Cameron, who worry that the result

:12:23. > :12:24.Cameron, who worry that the result Cameron, who worry that the result

:12:24. > :12:25.will be bankers leaving the UK, will be bankers leaving the UK,

:12:25. > :12:27.will be bankers leaving the UK, taking their business with them.

:12:27. > :12:28.taking their business with them. taking their business with them.

:12:28. > :12:31.taking their business with them. I'm joined now from Brussels by the

:12:31. > :12:33.I'm joined now from Brussels by the I'm joined now from Brussels by the

:12:33. > :12:34.Lib Dem MEP Sharon Boles, who Lib Dem MEP Sharon Boles, who

:12:34. > :12:36.chaired the European Parliament's chaired the European Parliament's

:12:36. > :12:39.chaired the European Parliament's committee that proposed to cut

:12:39. > :12:40.committee that proposed to cut committee that proposed to cut

:12:40. > :12:41.bonuses. And we have Nicola Horlick, bonuses. And we have Nicola Horlick,

:12:42. > :12:43.bonuses. And we have Nicola Horlick, investment manager, in the studio.

:12:43. > :12:44.investment manager, in the studio. investment manager, in the studio.

:12:44. > :12:45.investment manager, in the studio. Why is it that bankers hate what

:12:45. > :12:46.Why is it that bankers hate what Why is it that bankers hate what

:12:46. > :12:47.Why is it that bankers hate what they do so much that they wouldn't

:12:47. > :12:48.they do so much that they wouldn't they do so much that they wouldn't

:12:48. > :12:49.they do so much that they wouldn't do it if they don't get huge

:12:49. > :12:50.do it if they don't get huge do it if they don't get huge

:12:50. > :12:52.bonuss? I don't think they wouldn't bonuss? I don't think they wouldn't

:12:52. > :12:53.bonuss? I don't think they wouldn't bonuss? I don't think they wouldn't

:12:53. > :12:54.do it unless they get big bonuses. do it unless they get big bonuses.

:12:54. > :12:55.do it unless they get big bonuses. do it unless they get big bonuses.

:12:55. > :12:56.The way banks operated in the past The way banks operated in the past

:12:56. > :12:58.The way banks operated in the past The way banks operated in the past

:12:58. > :12:59.is a low fixed cost base by having is a low fixed cost base by having

:12:59. > :13:00.lower salaries, and more lower salaries, and more

:13:00. > :13:02.lower salaries, and more remuneration came through the bonus

:13:02. > :13:02.remuneration came through the bonus remuneration came through the bonus

:13:03. > :13:03.remuneration came through the bonus system. The idea was, if bank did

:13:03. > :13:04.system. The idea was, if bank did system. The idea was, if bank did

:13:04. > :13:05.system. The idea was, if bank did badly they wouldn't get a bonus and

:13:05. > :13:06.badly they wouldn't get a bonus and badly they wouldn't get a bonus and

:13:06. > :13:08.badly they wouldn't get a bonus and you have a lower cost base. Isn't

:13:08. > :13:09.you have a lower cost base. Isn't you have a lower cost base. Isn't

:13:09. > :13:10.that the point what sticks in that the point what sticks in

:13:10. > :13:11.that the point what sticks in people's craw is partly the figures,

:13:12. > :13:13.people's craw is partly the figures, people's craw is partly the figures,

:13:13. > :13:14.people's craw is partly the figures, but some of these banks do terribly

:13:14. > :13:15.but some of these banks do terribly but some of these banks do terribly

:13:15. > :13:16.are still paying bonuses? I don't are still paying bonuses? I don't

:13:16. > :13:16.are still paying bonuses? I don't are still paying bonuses? I don't

:13:16. > :13:18.are still paying bonuses? I don't want to go into all. That it is a

:13:18. > :13:18.want to go into all. That it is a want to go into all. That it is a

:13:19. > :13:20.very emotive subject, the real very emotive subject, the real

:13:20. > :13:21.very emotive subject, the real very emotive subject, the real

:13:21. > :13:22.point here is what the EU is doing point here is what the EU is doing

:13:22. > :13:24.point here is what the EU is doing point here is what the EU is doing

:13:24. > :13:24.is going to make basic pay go up is going to make basic pay go up

:13:25. > :13:26.is going to make basic pay go up very substantially. That is what

:13:26. > :13:27.very substantially. That is what very substantially. That is what

:13:27. > :13:28.very substantially. That is what will happen. To get round it.And

:13:28. > :13:29.will happen. To get round it.And will happen. To get round it.And

:13:29. > :13:30.will happen. To get round it.And by doing that, you are going to

:13:30. > :13:31.by doing that, you are going to by doing that, you are going to

:13:31. > :13:32.by doing that, you are going to have a much higher fixed cost base

:13:32. > :13:33.have a much higher fixed cost base have a much higher fixed cost base

:13:33. > :13:34.have a much higher fixed cost base for the banks, that's going to mean

:13:34. > :13:35.for the banks, that's going to mean for the banks, that's going to mean

:13:35. > :13:36.they have to have higher capital they have to have higher capital

:13:36. > :13:37.they have to have higher capital ratio, which means it will be

:13:37. > :13:37.ratio, which means it will be ratio, which means it will be

:13:38. > :13:39.ratio, which means it will be harder for them to lend. We are

:13:39. > :13:40.harder for them to lend. We are harder for them to lend. We are

:13:40. > :13:42.already in a very difficult already in a very difficult

:13:42. > :13:45.already in a very difficult position with the banks not lending

:13:45. > :13:49.position with the banks not lending position with the banks not lending

:13:49. > :13:51.enough. Why would any banker work enough. Why would any banker work

:13:51. > :13:52.enough. Why would any banker work enough. Why would any banker work

:13:52. > :13:54.in London for a capped bonus, when in London for a capped bonus, when

:13:54. > :13:56.in London for a capped bonus, when in London for a capped bonus, when

:13:56. > :13:57.in London for a capped bonus, when they can go to New York or you are

:13:57. > :13:59.they can go to New York or you are they can go to New York or you are

:13:59. > :14:00.they can go to New York or you are in -- zur Rick and make more money?

:14:00. > :14:01.in -- zur Rick and make more money? in -- zur Rick and make more money?

:14:01. > :14:02.in -- zur Rick and make more money? It depends why what they are going

:14:02. > :14:04.It depends why what they are going It depends why what they are going

:14:04. > :14:05.It depends why what they are going for. If it is a European bank it

:14:05. > :14:05.for. If it is a European bank it for. If it is a European bank it

:14:05. > :14:06.for. If it is a European bank it doesn't matter where it is in the

:14:06. > :14:07.doesn't matter where it is in the doesn't matter where it is in the

:14:07. > :14:08.doesn't matter where it is in the world they will have to have their

:14:08. > :14:08.world they will have to have their world they will have to have their

:14:08. > :14:11.world they will have to have their bonus capped. They will have to go

:14:11. > :14:11.bonus capped. They will have to go bonus capped. They will have to go

:14:12. > :14:12.bonus capped. They will have to go to a different bank. I don't think

:14:12. > :14:13.to a different bank. I don't think to a different bank. I don't think

:14:13. > :14:15.to a different bank. I don't think there is enough jobs in all the

:14:15. > :14:16.there is enough jobs in all the there is enough jobs in all the

:14:16. > :14:17.different banks. They might do that. different banks. They might do that.

:14:18. > :14:18.different banks. They might do that. I don't subscribe to the notion

:14:18. > :14:19.I don't subscribe to the notion I don't subscribe to the notion

:14:20. > :14:21.I don't subscribe to the notion that there is only a select number

:14:21. > :14:22.that there is only a select number that there is only a select number

:14:22. > :14:24.that there is only a select number of people, there won't be a huge

:14:24. > :14:25.of people, there won't be a huge migration. Realistically we don't

:14:25. > :14:31.migration. Realistically we don't migration. Realistically we don't

:14:31. > :14:33.know whether there will be this know whether there will be this

:14:33. > :14:34.know whether there will be this migration. We will monitor it and

:14:34. > :14:35.migration. We will monitor it and migration. We will monitor it and

:14:35. > :14:36.migration. We will monitor it and take teps steps to reverse it if it

:14:36. > :14:37.take teps steps to reverse it if it take teps steps to reverse it if it

:14:37. > :14:39.take teps steps to reverse it if it is true. We have been here on other

:14:39. > :14:40.is true. We have been here on other is true. We have been here on other

:14:40. > :14:43.issues, with mobile phone roaming issues, with mobile phone roaming

:14:43. > :14:44.issues, with mobile phone roaming issues, with mobile phone roaming

:14:44. > :14:45.charges it was the end of mobile charges it was the end of mobile

:14:45. > :14:46.charges it was the end of mobile telephony, and there was no such

:14:46. > :14:46.telephony, and there was no such telephony, and there was no such

:14:46. > :14:48.telephony, and there was no such thing with a cap on it. We have

:14:48. > :14:49.thing with a cap on it. We have thing with a cap on it. We have

:14:49. > :14:50.been here before, and we are been here before, and we are

:14:50. > :14:51.been here before, and we are been here before, and we are

:14:51. > :14:53.sceptical. Do you think there is a sceptical. Do you think there is a

:14:53. > :14:54.sceptical. Do you think there is a sceptical. Do you think there is a

:14:54. > :14:56.risk, and it was pointed out and I risk, and it was pointed out and I

:14:56. > :14:57.risk, and it was pointed out and I risk, and it was pointed out and I

:14:57. > :14:59.have spoken to bankers who say it have spoken to bankers who say it

:14:59. > :15:00.have spoken to bankers who say it have spoken to bankers who say it

:15:00. > :15:02.is exactly as she said, it is about is exactly as she said, it is about

:15:02. > :15:02.increasing salaries and causing increasing salaries and causing

:15:02. > :15:04.increasing salaries and causing problems with lending. Since the

:15:04. > :15:05.problems with lending. Since the problems with lending. Since the

:15:05. > :15:07.main problem today is lending, that main problem today is lending, that

:15:07. > :15:08.main problem today is lending, that will make things worse? They would

:15:08. > :15:09.will make things worse? They would will make things worse? They would

:15:09. > :15:10.argue that, wouldn't they, when argue that, wouldn't they, when

:15:10. > :15:12.argue that, wouldn't they, when they want to have their bonuses.

:15:12. > :15:13.they want to have their bonuses. they want to have their bonuses.

:15:13. > :15:14.There are various steps that you There are various steps that you

:15:14. > :15:15.There are various steps that you There are various steps that you

:15:15. > :15:16.can look at that should stop it can look at that should stop it

:15:16. > :15:18.can look at that should stop it can look at that should stop it

:15:18. > :15:19.going too far. First of all, the going too far. First of all, the

:15:19. > :15:22.going too far. First of all, the management has to keep add handle

:15:22. > :15:24.management has to keep add handle management has to keep add handle

:15:24. > :15:25.on their fixed costs. Secondly, the on their fixed costs. Secondly, the

:15:25. > :15:26.on their fixed costs. Secondly, the supervisers will look at the bank

:15:26. > :15:28.supervisers will look at the bank supervisers will look at the bank

:15:28. > :15:29.supervisers will look at the bank and say, right, well if you are

:15:29. > :15:30.and say, right, well if you are and say, right, well if you are

:15:30. > :15:31.and say, right, well if you are paying out too much, you can't do

:15:31. > :15:32.paying out too much, you can't do paying out too much, you can't do

:15:32. > :15:33.it because you are going unstable it because you are going unstable

:15:33. > :15:35.it because you are going unstable it because you are going unstable

:15:35. > :15:35.or you are going to have to find or you are going to have to find

:15:35. > :15:36.or you are going to have to find more capital, which they won't

:15:36. > :15:37.more capital, which they won't more capital, which they won't

:15:37. > :15:39.more capital, which they won't necessarily be able to do all that

:15:39. > :15:40.necessarily be able to do all that easily. And finally the

:15:40. > :15:42.easily. And finally the easily. And finally the

:15:42. > :15:42.shareholders can intervene and say, shareholders can intervene and say,

:15:42. > :15:43.shareholders can intervene and say, shareholders can intervene and say,

:15:43. > :15:44.hang on a minute, your fixed costs hang on a minute, your fixed costs

:15:44. > :15:45.hang on a minute, your fixed costs hang on a minute, your fixed costs

:15:45. > :15:46.are too high and you are not paying are too high and you are not paying

:15:46. > :15:47.are too high and you are not paying are too high and you are not paying

:15:47. > :15:49.any dividends. They have got to get any dividends. They have got to get

:15:50. > :15:51.any dividends. They have got to get over all of those three hurdles.

:15:51. > :15:52.over all of those three hurdles. over all of those three hurdles.

:15:52. > :15:53.Bring anything Nicola Horlick on Bring anything Nicola Horlick on

:15:53. > :15:54.Bring anything Nicola Horlick on Bring anything Nicola Horlick on

:15:54. > :15:55.that, it is a scare to say they that, it is a scare to say they

:15:55. > :15:55.that, it is a scare to say they will go somewhere else, because

:15:56. > :15:56.will go somewhere else, because will go somewhere else, because

:15:56. > :15:57.will go somewhere else, because there are not that many jobs, and

:15:57. > :15:58.there are not that many jobs, and there are not that many jobs, and

:15:58. > :16:00.there are not that many jobs, and it is not that easey to simply

:16:00. > :16:01.it is not that easey to simply it is not that easey to simply

:16:01. > :16:02.it is not that easey to simply increase pay? That is not true. It

:16:02. > :16:03.increase pay? That is not true. It increase pay? That is not true. It

:16:03. > :16:03.is a very competitive industry, is a very competitive industry,

:16:03. > :16:04.is a very competitive industry, is a very competitive industry,

:16:04. > :16:11.with a lot of major players, a lot with a lot of major players, a lot

:16:11. > :16:13.with a lot of major players, a lot with a lot of major players, a lot

:16:13. > :16:14.of whom are not European. The most of whom are not European. The most

:16:14. > :16:15.of whom are not European. The most successful banks are American or

:16:15. > :16:15.successful banks are American or successful banks are American or

:16:15. > :16:18.successful banks are American or far eastern banks F they get our

:16:18. > :16:19.far eastern banks F they get our far eastern banks F they get our

:16:19. > :16:19.people it will undermine the people it will undermine the

:16:20. > :16:20.people it will undermine the people it will undermine the

:16:20. > :16:21.industry. Don't you think this is a industry. Don't you think this is a

:16:21. > :16:22.industry. Don't you think this is a industry. Don't you think this is a

:16:22. > :16:23.great idea from the UK and we will great idea from the UK and we will

:16:23. > :16:24.great idea from the UK and we will great idea from the UK and we will

:16:24. > :16:25.do it in the United States? If they do it in the United States? If they

:16:25. > :16:25.do it in the United States? If they do it in the United States? If they

:16:25. > :16:26.do it in the United States? If they do that is fine. We are on a level

:16:26. > :16:27.do that is fine. We are on a level do that is fine. We are on a level

:16:27. > :16:27.do that is fine. We are on a level playing field. If it is a global

:16:27. > :16:28.playing field. If it is a global playing field. If it is a global

:16:28. > :16:29.thing, this is the argument going thing, this is the argument going

:16:29. > :16:30.thing, this is the argument going thing, this is the argument going

:16:30. > :16:31.thing, this is the argument going on for the last few months F it is

:16:31. > :16:32.on for the last few months F it is on for the last few months F it is

:16:32. > :16:33.global that's fine, everybody then global that's fine, everybody then

:16:33. > :16:34.global that's fine, everybody then global that's fine, everybody then

:16:34. > :16:35.has to do the same thing. If it has to do the same thing. If it

:16:35. > :16:37.has to do the same thing. If it only happens in Europe, of course

:16:37. > :16:38.only happens in Europe, of course only happens in Europe, of course

:16:38. > :16:39.it is going to undermine the it is going to undermine the

:16:39. > :16:40.competitiveness of the European competitiveness of the European

:16:40. > :16:41.competitiveness of the European banking industry. They won't be

:16:41. > :16:42.banking industry. They won't be banking industry. They won't be

:16:42. > :16:44.banking industry. They won't be able to get the best people. Do you

:16:44. > :16:44.able to get the best people. Do you able to get the best people. Do you

:16:45. > :16:45.think within Europe it penalises think within Europe it penalises

:16:45. > :16:46.think within Europe it penalises Britain more than anyone else?

:16:46. > :16:48.Britain more than anyone else? Britain more than anyone else?

:16:48. > :16:49.because we are the financial centre because we are the financial centre

:16:49. > :16:50.because we are the financial centre of Europe. It penalises Britain

:16:50. > :16:52.of Europe. It penalises Britain of Europe. It penalises Britain

:16:52. > :16:52.much more and listening to Boris much more and listening to Boris

:16:52. > :16:57.much more and listening to Boris Johnson earlier today, saying this

:16:57. > :16:58.Johnson earlier today, saying this Johnson earlier today, saying this

:16:58. > :17:00.measure to come from Europe since measure to come from Europe since

:17:00. > :17:01.measure to come from Europe since the Emperor Dioclecian tried to fix

:17:01. > :17:02.the Emperor Dioclecian tried to fix the Emperor Dioclecian tried to fix

:17:02. > :17:05.the Emperor Dioclecian tried to fix the price of groceries in the Roman

:17:05. > :17:06.the price of groceries in the Roman the price of groceries in the Roman

:17:06. > :17:07.empire? That is all very empire? That is all very

:17:07. > :17:09.empire? That is all very interesting, isn't it. Hang on a

:17:09. > :17:10.interesting, isn't it. Hang on a interesting, isn't it. Hang on a

:17:10. > :17:13.interesting, isn't it. Hang on a minute, this is a very small part

:17:13. > :17:14.minute, this is a very small part minute, this is a very small part

:17:14. > :17:15.of regulation that deals with how of regulation that deals with how

:17:15. > :17:16.of regulation that deals with how we capitalise our banks. Most of

:17:16. > :17:17.we capitalise our banks. Most of we capitalise our banks. Most of

:17:17. > :17:19.that regulation has things that the that regulation has things that the

:17:19. > :17:21.that regulation has things that the UK has been driving forward, that

:17:21. > :17:22.UK has been driving forward, that UK has been driving forward, that

:17:22. > :17:24.many other member states don't want. many other member states don't want.

:17:24. > :17:25.many other member states don't want. many other member states don't want.

:17:25. > :17:26.So you can't actually say that this So you can't actually say that this

:17:26. > :17:28.So you can't actually say that this So you can't actually say that this

:17:28. > :17:29.is the UK being done down at the is the UK being done down at the

:17:29. > :17:32.is the UK being done down at the expense of other member-state. It

:17:32. > :17:33.expense of other member-state. It expense of other member-state. It

:17:33. > :17:34.just happens n this one paragraph, just happens n this one paragraph,

:17:34. > :17:35.just happens n this one paragraph, just happens n this one paragraph,

:17:35. > :17:36.in the 1400 pages, we didn't get in the 1400 pages, we didn't get

:17:36. > :17:37.in the 1400 pages, we didn't get in the 1400 pages, we didn't get

:17:37. > :17:38.our way. We got our way on the our way. We got our way on the

:17:38. > :17:39.our way. We got our way on the our way. We got our way on the

:17:39. > :17:42.other four big issues out of the other four big issues out of the

:17:42. > :17:44.other four big issues out of the five that were being discussed in

:17:44. > :17:45.five that were being discussed in five that were being discussed in

:17:45. > :17:47.the trial that went on until the trial that went on until

:17:47. > :17:48.the trial that went on until midnight last night. We are not

:17:48. > :17:49.midnight last night. We are not midnight last night. We are not

:17:49. > :17:51.being isolated. You just have to being isolated. You just have to

:17:51. > :17:53.being isolated. You just have to being isolated. You just have to

:17:53. > :17:53.take this in context. I think that take this in context. I think that

:17:53. > :17:58.take this in context. I think that somebody somewhere has to be brave

:17:58. > :17:59.somebody somewhere has to be brave somebody somewhere has to be brave

:17:59. > :17:59.enough. The moral dimension is enough. The moral dimension is

:18:00. > :18:01.enough. The moral dimension is clear, there is outrage, nobody

:18:01. > :18:02.clear, there is outrage, nobody clear, there is outrage, nobody

:18:02. > :18:04.disagrees with this morally. We disagrees with this morally. We

:18:04. > :18:05.don't know the practical don't know the practical

:18:05. > :18:06.consequences. Europe has decided consequences. Europe has decided

:18:06. > :18:07.consequences. Europe has decided consequences. Europe has decided

:18:07. > :18:09.this is what we are going to do.S this is what we are going to do.S

:18:09. > :18:10.this is what we are going to do.S this is what we are going to do.S

:18:10. > :18:11.it is largely a done deal, there is it is largely a done deal, there is

:18:11. > :18:13.it is largely a done deal, there is very little space for any fiddling

:18:13. > :18:14.very little space for any fiddling very little space for any fiddling

:18:14. > :18:15.very little space for any fiddling around the edges with this. Let me

:18:15. > :18:16.around the edges with this. Let me around the edges with this. Let me

:18:16. > :18:18.around the edges with this. Let me put that to the studio. They don't

:18:18. > :18:19.put that to the studio. They don't know the practical consequences,

:18:19. > :18:20.know the practical consequences, know the practical consequences,

:18:20. > :18:21.interesting question as to what interesting question as to what

:18:21. > :18:25.interesting question as to what will happen. It is popular, isn't

:18:25. > :18:25.will happen. It is popular, isn't will happen. It is popular, isn't

:18:25. > :18:27.will happen. It is popular, isn't it? I think people still feel very

:18:27. > :18:27.it? I think people still feel very it? I think people still feel very

:18:27. > :18:29.it? I think people still feel very angry with banks. You can't have a

:18:29. > :18:31.angry with banks. You can't have a angry with banks. You can't have a

:18:31. > :18:32.vibrant economy without banks that vibrant economy without banks that

:18:32. > :18:33.vibrant economy without banks that vibrant economy without banks that

:18:33. > :18:34.lend. And that's why, that is one lend. And that's why, that is one

:18:34. > :18:36.lend. And that's why, that is one of the major reasons why our

:18:36. > :18:37.of the major reasons why our of the major reasons why our

:18:37. > :18:38.economy is really struggling, not economy is really struggling, not

:18:38. > :18:39.economy is really struggling, not economy is really struggling, not

:18:39. > :18:40.just ours but the whole of the just ours but the whole of the

:18:40. > :18:43.just ours but the whole of the just ours but the whole of the

:18:43. > :18:44.European economy. Hang on, we are a market.

:18:44. > :18:45.market. market.

:18:45. > :18:46.market. We are market of 500 million people.

:18:46. > :18:49.We are market of 500 million people. Sorry, thank you.

:18:49. > :18:50.Sorry, thank you. Sorry, thank you.

:18:50. > :18:51.Sorry, thank you. In a moment, calling time on the

:18:51. > :18:54.Eastleigh by-election. Eastleigh by-election.

:18:54. > :18:55.Eastleigh by-election. Also coming up, how sexist is

:18:55. > :18:57.British politics? British politics?

:18:57. > :18:58.British politics? Pope Benedict has left office, but

:18:58. > :18:58.Pope Benedict has left office, but Pope Benedict has left office, but

:18:59. > :19:07.has he also left the Catholic has he also left the Catholic

:19:07. > :19:08.Church in a mess? Church in a mess?

:19:08. > :19:09.Church in a mess? The voter of Eastleigh, those who

:19:09. > :19:10.The voter of Eastleigh, those who The voter of Eastleigh, those who

:19:10. > :19:11.are interested, have now done their are interested, have now done their

:19:11. > :19:11.are interested, have now done their are interested, have now done their

:19:11. > :19:12.democratic duty, it is up to the democratic duty, it is up to the

:19:12. > :19:14.democratic duty, it is up to the democratic duty, it is up to the

:19:14. > :19:15.men and women at the count to let men and women at the count to let

:19:15. > :19:16.men and women at the count to let us know the result. If poll

:19:16. > :19:17.us know the result. If poll us know the result. If poll

:19:17. > :19:18.predictions are night, it could be predictions are night, it could be

:19:19. > :19:19.predictions are night, it could be predictions are night, it could be

:19:19. > :19:20.a long night and close result. Our a long night and close result. Our

:19:20. > :19:22.a long night and close result. Our political editor is in Eastleigh

:19:22. > :19:23.political editor is in Eastleigh political editor is in Eastleigh

:19:23. > :19:25.political editor is in Eastleigh for us. How close is it looking?

:19:25. > :19:25.for us. How close is it looking? for us. How close is it looking?

:19:25. > :19:27.is looking really close, even is looking really close, even

:19:27. > :19:29.is looking really close, even allowing for the spin wars of

:19:29. > :19:30.allowing for the spin wars of allowing for the spin wars of

:19:30. > :19:31.evenings like this evening, both evenings like this evening, both

:19:31. > :19:32.evenings like this evening, both UKIP and the Liberal Democrats

:19:32. > :19:33.UKIP and the Liberal Democrats UKIP and the Liberal Democrats

:19:33. > :19:34.UKIP and the Liberal Democrats agree they can't really say who has

:19:34. > :19:36.agree they can't really say who has agree they can't really say who has

:19:36. > :19:37.agree they can't really say who has come first. The Lib Dems will be

:19:37. > :19:39.come first. The Lib Dems will be suppressing anticipation, UKIP, of

:19:39. > :19:40.suppressing anticipation, UKIP, of suppressing anticipation, UKIP, of

:19:40. > :19:41.course, will be building it up. course, will be building it up.

:19:41. > :19:43.course, will be building it up. course, will be building it up.

:19:43. > :19:44.They both agree on this, if it was They both agree on this, if it was

:19:44. > :19:46.They both agree on this, if it was about postal votes, the votes cast

:19:46. > :19:46.about postal votes, the votes cast about postal votes, the votes cast

:19:46. > :19:47.right at the beginning when the right at the beginning when the

:19:47. > :19:48.right at the beginning when the Liberal Democrats were first out of

:19:48. > :19:49.Liberal Democrats were first out of Liberal Democrats were first out of

:19:49. > :19:50.Liberal Democrats were first out of the traps it would have been a Lib

:19:50. > :19:50.the traps it would have been a Lib the traps it would have been a Lib

:19:51. > :19:51.the traps it would have been a Lib Dem hold. It is not about that, it

:19:51. > :19:52.Dem hold. It is not about that, it Dem hold. It is not about that, it

:19:52. > :19:53.Dem hold. It is not about that, it is about the last three weeks and

:19:53. > :19:54.is about the last three weeks and is about the last three weeks and

:19:54. > :19:54.is about the last three weeks and today, and today UKIP seem to have

:19:54. > :19:55.today, and today UKIP seem to have today, and today UKIP seem to have

:19:55. > :19:56.today, and today UKIP seem to have today, and today UKIP seem to have

:19:56. > :19:57.had a very good day. It is a small had a very good day. It is a small

:19:57. > :19:58.had a very good day. It is a small selection, but of the people we

:19:58. > :19:59.selection, but of the people we selection, but of the people we

:19:59. > :20:00.selection, but of the people we spoke to, a lot of the ones that

:20:00. > :20:01.spoke to, a lot of the ones that spoke to, a lot of the ones that

:20:01. > :20:03.spoke to, a lot of the ones that wanted to say how they voted did

:20:03. > :20:04.wanted to say how they voted did wanted to say how they voted did

:20:04. > :20:04.wanted to say how they voted did say UKIP. The Lib Dems this evening

:20:04. > :20:05.say UKIP. The Lib Dems this evening say UKIP. The Lib Dems this evening

:20:05. > :20:06.say UKIP. The Lib Dems this evening are saying, yes, it could have been

:20:06. > :20:09.are saying, yes, it could have been are saying, yes, it could have been

:20:09. > :20:09.are saying, yes, it could have been close for us. What you have to

:20:09. > :20:10.close for us. What you have to close for us. What you have to

:20:10. > :20:12.remember is that it is actually remember is that it is actually

:20:12. > :20:14.remember is that it is actually about those votes that were cast

:20:14. > :20:15.about those votes that were cast about those votes that were cast

:20:15. > :20:16.about those votes that were cast today, and when UKIP say that they

:20:16. > :20:18.today, and when UKIP say that they today, and when UKIP say that they

:20:18. > :20:19.have, they will be disappointed if have, they will be disappointed if

:20:19. > :20:24.have, they will be disappointed if they come first, that is an

:20:24. > :20:25.extraordinary claim. extraordinary claim.

:20:25. > :20:25.extraordinary claim. extraordinary claim.

:20:25. > :20:27.I would like you to find out what I would like you to find out what

:20:27. > :20:28.I would like you to find out what I would like you to find out what

:20:28. > :20:29.sort of time people want to vote. sort of time people want to vote.

:20:29. > :20:31.sort of time people want to vote. This lot have something to prove.

:20:31. > :20:32.This lot have something to prove. Clipboards, highlighters, sticker,

:20:32. > :20:32.Clipboards, highlighters, sticker, Clipboards, highlighters, sticker,

:20:32. > :20:34.Clipboards, highlighters, sticker, they are not the most deadly of

:20:34. > :20:35.they are not the most deadly of they are not the most deadly of

:20:35. > :20:36.instruments. But Lib Dems are instruments. But Lib Dems are

:20:36. > :20:37.instruments. But Lib Dems are instruments. But Lib Dems are

:20:37. > :20:38.working the last few hours of this working the last few hours of this

:20:38. > :20:42.working the last few hours of this by-election to settle a political

:20:42. > :20:43.by-election to settle a political by-election to settle a political

:20:43. > :20:44.score. The junior partner in score. The junior partner in

:20:44. > :20:45.score. The junior partner in coalition beat back the big boys.

:20:46. > :20:47.coalition beat back the big boys. coalition beat back the big boys.

:20:47. > :20:48.Without you we couldn't do this, Without you we couldn't do this,

:20:48. > :20:49.Without you we couldn't do this, Without you we couldn't do this,

:20:49. > :20:50.thanks a lot. In the face of thanks a lot. In the face of

:20:50. > :20:52.thanks a lot. In the face of horrible headlines the Lib Dems

:20:52. > :20:53.horrible headlines the Lib Dems horrible headlines the Lib Dems

:20:53. > :20:54.have sent wave after wave of have sent wave after wave of

:20:54. > :20:55.have sent wave after wave of activists out into Eastleigh. The

:20:55. > :20:56.activists out into Eastleigh. The activists out into Eastleigh. The

:20:56. > :20:57.activists out into Eastleigh. The air war has been gruesome but the

:20:57. > :20:59.air war has been gruesome but the air war has been gruesome but the

:20:59. > :21:01.ground troops have carried on ground troops have carried on

:21:01. > :21:03.ground troops have carried on Pluckley, and the results could

:21:03. > :21:04.Pluckley, and the results could Pluckley, and the results could

:21:05. > :21:06.scramble the political compass. The scramble the political compass. The

:21:06. > :21:08.scramble the political compass. The Lib Dems have been methodical,

:21:08. > :21:09.Lib Dems have been methodical, Lib Dems have been methodical,

:21:09. > :21:10.postal votes cast early on were postal votes cast early on were

:21:10. > :21:11.postal votes cast early on were thought to be two-thirds Lib Dem.

:21:11. > :21:13.thought to be two-thirds Lib Dem. thought to be two-thirds Lib Dem.

:21:13. > :21:14.The Tories are getting in their The Tories are getting in their

:21:14. > :21:16.The Tories are getting in their excuses, they were never going to

:21:16. > :21:17.excuses, they were never going to excuses, they were never going to

:21:17. > :21:19.excuses, they were never going to compete with such a dug-in Lib Dem

:21:19. > :21:20.compete with such a dug-in Lib Dem compete with such a dug-in Lib Dem

:21:20. > :21:22.operation. Then there is UKIP, operation. Then there is UKIP,

:21:22. > :21:24.operation. Then there is UKIP, Labour accused of not having worked

:21:24. > :21:25.Labour accused of not having worked Labour accused of not having worked

:21:25. > :21:26.hard enough. Eastleigh has seen hard enough. Eastleigh has seen

:21:26. > :21:28.hard enough. Eastleigh has seen battles before, back in 1994 this

:21:28. > :21:30.battles before, back in 1994 this battles before, back in 1994 this

:21:30. > :21:33.man was the surprise victor. Nigel man was the surprise victor. Nigel

:21:33. > :21:33.man was the surprise victor. Nigel man was the surprise victor. Nigel

:21:33. > :21:35.Farage who stood against me got 946 Farage who stood against me got 946

:21:35. > :21:36.Farage who stood against me got 946 Farage who stood against me got 946

:21:36. > :21:37.votes, he would get more, I tried votes, he would get more, I tried

:21:37. > :21:39.votes, he would get more, I tried votes, he would get more, I tried

:21:39. > :21:40.to persuade him to stand but no way. to persuade him to stand but no way.

:21:40. > :21:41.to persuade him to stand but no way. to persuade him to stand but no way.

:21:41. > :21:42.As time moves on, come the general As time moves on, come the general

:21:42. > :21:43.As time moves on, come the general election, things will settle down,

:21:43. > :21:44.election, things will settle down, election, things will settle down,

:21:44. > :21:46.I don't think UKIP will maintain I don't think UKIP will maintain

:21:46. > :21:47.I don't think UKIP will maintain the charge they have done during

:21:47. > :21:47.the charge they have done during the charge they have done during

:21:47. > :21:49.the charge they have done during this campaign. It has always been a

:21:49. > :21:50.this campaign. It has always been a this campaign. It has always been a

:21:50. > :21:52.this campaign. It has always been a bat the here, since the 1950s any

:21:52. > :21:53.bat the here, since the 1950s any bat the here, since the 1950s any

:21:53. > :21:54.way, between Lib Dems, liberals way, between Lib Dems, liberals

:21:54. > :21:56.then, and the Conservatives. then, and the Conservatives.

:21:56. > :21:58.then, and the Conservatives. Tonight there was signs voters were

:21:58. > :21:59.Tonight there was signs voters were Tonight there was signs voters were

:21:59. > :22:01.rejecting the three main parties. rejecting the three main parties.

:22:01. > :22:02.rejecting the three main parties. I'm voting UKIP, and mainly because

:22:02. > :22:03.I'm voting UKIP, and mainly because I'm voting UKIP, and mainly because

:22:03. > :22:03.I care about immigration. I care I care about immigration. I care

:22:03. > :22:04.I care about immigration. I care about the amount of people coming

:22:04. > :22:06.about the amount of people coming about the amount of people coming

:22:06. > :22:06.about the amount of people coming into the country. I think we should

:22:07. > :22:13.into the country. I think we should into the country. I think we should

:22:13. > :22:14.have jobs for British people. Not have jobs for British people. Not

:22:15. > :22:15.have jobs for British people. Not immigrants coming over. I'm voting

:22:15. > :22:16.immigrants coming over. I'm voting immigrants coming over. I'm voting

:22:16. > :22:17.immigrants coming over. I'm voting for UKIP they want for more the

:22:17. > :22:18.for UKIP they want for more the for UKIP they want for more the

:22:18. > :22:18.British people. It is right for British people. It is right for

:22:18. > :22:21.British people. It is right for immigrants to come over, but not

:22:21. > :22:22.immigrants to come over, but not immigrants to come over, but not

:22:22. > :22:23.the type of immigrants that come the type of immigrants that come

:22:23. > :22:24.the type of immigrants that come the type of immigrants that come

:22:24. > :22:25.over and just scrounge off of us, over and just scrounge off of us,

:22:25. > :22:26.over and just scrounge off of us, over and just scrounge off of us,

:22:26. > :22:27.pretty much. But not in a horrible pretty much. But not in a horrible

:22:27. > :22:27.pretty much. But not in a horrible pretty much. But not in a horrible

:22:28. > :22:30.way. There has been a steady stream way. There has been a steady stream

:22:30. > :22:32.way. There has been a steady stream of voters to this polling station

:22:32. > :22:33.of voters to this polling station of voters to this polling station

:22:33. > :22:34.in Eastleigh, perhaps turnout could in Eastleigh, perhaps turnout could

:22:34. > :22:35.in Eastleigh, perhaps turnout could in Eastleigh, perhaps turnout could

:22:35. > :22:37.end up being really good. They are end up being really good. They are

:22:37. > :22:38.end up being really good. They are casting their vote and the media

:22:38. > :22:39.casting their vote and the media casting their vote and the media

:22:39. > :22:41.casting their vote and the media circus out of the town. On the high

:22:41. > :22:42.circus out of the town. On the high circus out of the town. On the high

:22:42. > :22:43.street UKIP had the most prominent street UKIP had the most prominent

:22:43. > :22:44.street UKIP had the most prominent headquarters. Lib Dems say UKIP

:22:44. > :22:44.headquarters. Lib Dems say UKIP headquarters. Lib Dems say UKIP

:22:44. > :22:45.headquarters. Lib Dems say UKIP have given them a run for their

:22:45. > :22:48.have given them a run for their have given them a run for their

:22:48. > :22:49.money in terms of enthusiasm. But money in terms of enthusiasm. But

:22:49. > :22:51.money in terms of enthusiasm. But not precision. All politics is

:22:51. > :22:51.not precision. All politics is not precision. All politics is

:22:51. > :22:54.local. But the consequences of this local. But the consequences of this

:22:54. > :22:55.local. But the consequences of this by-election will be truly national.

:22:56. > :22:57.by-election will be truly national. by-election will be truly national.

:22:57. > :22:58.by-election will be truly national. Do you have a sense as to whoit

:22:58. > :22:59.Do you have a sense as to whoit Do you have a sense as to whoit

:22:59. > :23:00.Do you have a sense as to whoit just win it in the end? -- who

:23:00. > :23:01.just win it in the end? -- who just win it in the end? -- who

:23:01. > :23:02.just win it in the end? -- who might just win it in the end?

:23:02. > :23:03.might just win it in the end? might just win it in the end?

:23:03. > :23:04.Liberal Democrats should win it, Liberal Democrats should win it,

:23:04. > :23:05.Liberal Democrats should win it, they have the method and

:23:05. > :23:06.they have the method and they have the method and

:23:06. > :23:07.information about who lies where information about who lies where

:23:07. > :23:08.information about who lies where information about who lies where

:23:08. > :23:09.and how they will vote. They have and how they will vote. They have

:23:09. > :23:10.and how they will vote. They have campaigned acidously, and they have

:23:10. > :23:11.campaigned acidously, and they have campaigned acidously, and they have

:23:11. > :23:12.campaigned acidously, and they have chosen how long they wanted it to

:23:12. > :23:13.chosen how long they wanted it to chosen how long they wanted it to

:23:13. > :23:14.chosen how long they wanted it to be because they knew how long they

:23:15. > :23:15.be because they knew how long they be because they knew how long they

:23:15. > :23:17.could last. UKIP is so Unoable, could last. UKIP is so Unoable,

:23:17. > :23:17.could last. UKIP is so Unoable, that is the long-term implication

:23:17. > :23:18.that is the long-term implication that is the long-term implication

:23:18. > :23:19.for politics. They will scramble for politics. They will scramble

:23:19. > :23:21.for politics. They will scramble the votes in all sorts of

:23:21. > :23:22.the votes in all sorts of constituencies around the country,

:23:22. > :23:23.constituencies around the country, constituencies around the country,

:23:23. > :23:25.constituencies around the country, such that all of our clever clogs

:23:25. > :23:25.such that all of our clever clogs such that all of our clever clogs

:23:25. > :23:29.such that all of our clever clogs that like to know about this stuff

:23:29. > :23:30.that like to know about this stuff that like to know about this stuff

:23:30. > :23:31.that like to know about this stuff ant really -- can't really call it

:23:31. > :23:32.ant really -- can't really call it ant really -- can't really call it

:23:32. > :23:35.ant really -- can't really call it in future. If the Lib Dems are

:23:35. > :23:35.in future. If the Lib Dems are in future. If the Lib Dems are

:23:35. > :23:37.in future. If the Lib Dems are beaten to second and UKIP come or

:23:37. > :23:38.beaten to second and UKIP come or beaten to second and UKIP come or

:23:38. > :23:40.beaten to second and UKIP come or the Lib Dems win it, UKIP second

:23:40. > :23:41.the Lib Dems win it, UKIP second the Lib Dems win it, UKIP second

:23:41. > :23:41.and the Conservatives third, there and the Conservatives third, there

:23:41. > :23:42.and the Conservatives third, there are people sharpening knives for

:23:42. > :23:43.David Cameron. David Cameron.

:23:43. > :23:44.David Cameron. David Cameron.

:23:44. > :23:46.The other big story in politic this The other big story in politic this

:23:46. > :23:48.The other big story in politic this week, the allegation about the Lib

:23:48. > :23:49.week, the allegation about the Lib week, the allegation about the Lib

:23:49. > :23:50.Dem poor Lord Rennard, allegations Dem poor Lord Rennard, allegations

:23:50. > :23:52.Dem poor Lord Rennard, allegations which he very strongly denies, have

:23:52. > :23:52.which he very strongly denies, have which he very strongly denies, have

:23:53. > :23:53.raised the matter far wider than raised the matter far wider than

:23:53. > :23:55.raised the matter far wider than simply the alleged conduct of one

:23:55. > :23:56.simply the alleged conduct of one simply the alleged conduct of one

:23:56. > :23:58.man in one political party. How man in one political party. How

:23:58. > :24:00.man in one political party. How sexist is politics? Despite all-

:24:00. > :24:01.sexist is politics? Despite all- sexist is politics? Despite all-

:24:01. > :24:02.women shortlists, in some case, the women shortlists, in some case, the

:24:03. > :24:04.unique position of Margaret unique position of Margaret

:24:04. > :24:05.Thatcher, promises to make Thatcher, promises to make

:24:05. > :24:07.parliament itself for family- parliament itself for family-

:24:07. > :24:08.parliament itself for family- friendly this country still lags

:24:08. > :24:09.friendly this country still lags friendly this country still lags

:24:09. > :24:10.way behind anything near parity way behind anything near parity

:24:10. > :24:11.way behind anything near parity between men and women in politics.

:24:11. > :24:12.between men and women in politics. between men and women in politics.

:24:12. > :24:13.between men and women in politics. It is reflected in the numbers of

:24:13. > :24:13.It is reflected in the numbers of It is reflected in the numbers of

:24:13. > :24:14.It is reflected in the numbers of MPs. Is it also reflected in the

:24:14. > :24:16.MPs. Is it also reflected in the MPs. Is it also reflected in the

:24:16. > :24:17.behaviour of those involved in behaviour of those involved in

:24:17. > :24:18.behaviour of those involved in politics. Does it remain a sexist

:24:18. > :24:20.politics. Does it remain a sexist politics. Does it remain a sexist

:24:20. > :24:20.politics. Does it remain a sexist macho world, and if so, what would

:24:21. > :24:23.macho world, and if so, what would macho world, and if so, what would

:24:23. > :24:27.change that? Joining me now is change that? Joining me now is

:24:27. > :24:30.change that? Joining me now is change that? Joining me now is

:24:31. > :24:32.Baroness King, serving as an MP up Baroness King, serving as an MP up

:24:32. > :24:33.Baroness King, serving as an MP up Baroness King, serving as an MP up

:24:34. > :24:35.to 2005, and described as one of to 2005, and described as one of

:24:35. > :24:36.to 2005, and described as one of to 2005, and described as one of

:24:36. > :24:38.Blair Babes. And Peter Bone is with Blair Babes. And Peter Bone is with

:24:38. > :24:40.Blair Babes. And Peter Bone is with me. Have you encountered sexism in

:24:40. > :24:41.me. Have you encountered sexism in your political career? Yeah,

:24:41. > :24:42.your political career? Yeah, your political career? Yeah,

:24:42. > :24:44.absolutely I have. I have absolutely I have. I have

:24:44. > :24:45.absolutely I have. I have encountered a lot of sexism, just

:24:45. > :24:46.encountered a lot of sexism, just encountered a lot of sexism, just

:24:46. > :24:48.encountered a lot of sexism, just as a regular women I have been

:24:48. > :24:48.as a regular women I have been as a regular women I have been

:24:48. > :24:49.as a regular women I have been attacked on the street by young men

:24:49. > :24:50.attacked on the street by young men attacked on the street by young men

:24:50. > :24:51.attacked on the street by young men in the work place I have been

:24:51. > :24:52.in the work place I have been in the work place I have been

:24:52. > :24:53.in the work place I have been groped by older men in a party

:24:53. > :24:53.groped by older men in a party groped by older men in a party

:24:53. > :24:55.political conference I have been political conference I have been

:24:55. > :24:56.political conference I have been political conference I have been

:24:56. > :24:57.dragged out of a lift by a very dragged out of a lift by a very

:24:57. > :25:00.dragged out of a lift by a very senior political adviser. As a

:25:00. > :25:02.senior political adviser. As a political assistant I was

:25:02. > :25:05.political assistant I was indecently propositioned by an

:25:05. > :25:05.indecently propositioned by an elected politician. So yeah it is

:25:05. > :25:06.elected politician. So yeah it is elected politician. So yeah it is

:25:06. > :25:07.elected politician. So yeah it is endemic, we know that. A lot of us

:25:07. > :25:08.endemic, we know that. A lot of us endemic, we know that. A lot of us

:25:08. > :25:09.endemic, we know that. A lot of us have said things like this for a

:25:09. > :25:09.have said things like this for a have said things like this for a

:25:09. > :25:11.have said things like this for a very long time. It is good people

:25:11. > :25:12.very long time. It is good people very long time. It is good people

:25:12. > :25:13.are taking notice. It is about are taking notice. It is about

:25:13. > :25:15.are taking notice. It is about cultural change and about putting

:25:15. > :25:17.cultural change and about putting cultural change and about putting

:25:17. > :25:18.some actual concrete steps in place, some actual concrete steps in place,

:25:18. > :25:20.some actual concrete steps in place, such as modernising the working

:25:20. > :25:21.such as modernising the working such as modernising the working

:25:21. > :25:22.practices of the parliament. Also practices of the parliament. Also

:25:22. > :25:23.practices of the parliament. Also ensuring there are more women there.

:25:23. > :25:25.ensuring there are more women there. ensuring there are more women there.

:25:25. > :25:26.ensuring there are more women there. It is still an entirely, it is a

:25:26. > :25:27.It is still an entirely, it is a It is still an entirely, it is a

:25:27. > :25:29.male-dominated work place. Do you male-dominated work place. Do you

:25:29. > :25:30.male-dominated work place. Do you male-dominated work place. Do you

:25:30. > :25:30.accept that goes on, and that it accept that goes on, and that it

:25:30. > :25:31.accept that goes on, and that it translates also into whether women

:25:31. > :25:32.translates also into whether women translates also into whether women

:25:32. > :25:33.translates also into whether women get safe seats and better jobs, and

:25:33. > :25:34.get safe seats and better jobs, and get safe seats and better jobs, and

:25:34. > :25:34.get safe seats and better jobs, and how they are treated perhaps in the

:25:34. > :25:36.how they are treated perhaps in the how they are treated perhaps in the

:25:36. > :25:38.how they are treated perhaps in the House? I don't think so. I think

:25:38. > :25:39.House? I don't think so. I think House? I don't think so. I think

:25:39. > :25:40.House? I don't think so. I think the times have changed. Una left as

:25:40. > :25:40.the times have changed. Una left as the times have changed. Una left as

:25:40. > :25:42.the times have changed. Una left as I was arriving. I had the first

:25:42. > :25:43.I was arriving. I had the first I was arriving. I had the first

:25:43. > :25:44.I was arriving. I had the first term in parliament when you know it

:25:44. > :25:44.term in parliament when you know it term in parliament when you know it

:25:45. > :25:46.term in parliament when you know it was very old school and maybe that

:25:46. > :25:47.was very old school and maybe that was very old school and maybe that

:25:47. > :25:48.was very old school and maybe that sort of thing went on. Then we had

:25:48. > :25:50.sort of thing went on. Then we had sort of thing went on. Then we had

:25:50. > :25:50.the expenses scandal. We had the the expenses scandal. We had the

:25:50. > :25:51.the expenses scandal. We had the wholesale change of parliament in

:25:51. > :25:52.wholesale change of parliament in wholesale change of parliament in

:25:52. > :25:54.wholesale change of parliament in the last election. It is a much

:25:54. > :25:54.the last election. It is a much the last election. It is a much

:25:55. > :25:55.different parliament in the Commons, different parliament in the Commons,

:25:55. > :25:57.different parliament in the Commons, different parliament in the Commons,

:25:57. > :25:58.any way, than it was before. Do you any way, than it was before. Do you

:25:58. > :25:59.any way, than it was before. Do you any way, than it was before. Do you

:25:59. > :26:00.buy that? Not at all. Peter says it buy that? Not at all. Peter says it

:26:00. > :26:01.buy that? Not at all. Peter says it buy that? Not at all. Peter says it

:26:01. > :26:02.is very much changed T hasn't, it is very much changed T hasn't, it

:26:02. > :26:03.is very much changed T hasn't, it is very much changed T hasn't, it

:26:03. > :26:04.has gone from 20% of women MPs up has gone from 20% of women MPs up

:26:04. > :26:06.has gone from 20% of women MPs up has gone from 20% of women MPs up

:26:06. > :26:07.to 22%. What sort of change is that. to 22%. What sort of change is that.

:26:07. > :26:09.to 22%. What sort of change is that. At this rate of progress, the

:26:09. > :26:10.At this rate of progress, the At this rate of progress, the

:26:10. > :26:11.Fawcett Society have said it will Fawcett Society have said it will

:26:11. > :26:12.Fawcett Society have said it will Fawcett Society have said it will

:26:12. > :26:13.take more than 100 years for there take more than 100 years for there

:26:13. > :26:14.take more than 100 years for there take more than 100 years for there

:26:15. > :26:17.to be parity. In that sense if it to be parity. In that sense if it

:26:17. > :26:18.to be parity. In that sense if it is just about numbers, the quote

:26:18. > :26:21.is just about numbers, the quote is just about numbers, the quote

:26:22. > :26:24.is just about numbers, the quote "Blair babes" and a lot of women

:26:24. > :26:25."Blair babes" and a lot of women "Blair babes" and a lot of women

:26:25. > :26:26."Blair babes" and a lot of women coming in 1997 went out. When we

:26:26. > :26:27.coming in 1997 went out. When we coming in 1997 went out. When we

:26:28. > :26:29.came in we brought the total came in we brought the total

:26:30. > :26:31.came in we brought the total came in we brought the total

:26:31. > :26:33.numbers of women MPs up to 18%. numbers of women MPs up to 18%.

:26:33. > :26:35.numbers of women MPs up to 18%. That still meant that 82% of

:26:35. > :26:35.That still meant that 82% of That still meant that 82% of

:26:35. > :26:37.That still meant that 82% of Britain's MPs were men, and yet it

:26:37. > :26:38.Britain's MPs were men, and yet it Britain's MPs were men, and yet it

:26:38. > :26:39.Britain's MPs were men, and yet it was our fault that we hadn't some

:26:39. > :26:41.was our fault that we hadn't some how revolutionised parliament. It

:26:41. > :26:41.how revolutionised parliament. It how revolutionised parliament. It

:26:41. > :26:42.how revolutionised parliament. It is absolute nonsense. It can get a

:26:42. > :26:43.is absolute nonsense. It can get a is absolute nonsense. It can get a

:26:43. > :26:44.bit irritating after a while. I'm bit irritating after a while. I'm

:26:44. > :26:45.bit irritating after a while. I'm bit irritating after a while. I'm

:26:45. > :26:46.bit irritating after a while. I'm bored of it, and there are a lot of

:26:46. > :26:47.bored of it, and there are a lot of bored of it, and there are a lot of

:26:47. > :26:47.bored of it, and there are a lot of younger women who are too. It will

:26:47. > :26:48.younger women who are too. It will younger women who are too. It will

:26:48. > :26:49.younger women who are too. It will change. At the moment the MPs in

:26:49. > :26:49.change. At the moment the MPs in change. At the moment the MPs in

:26:50. > :26:51.parliament, if you talk about parliament, if you talk about

:26:51. > :26:52.parliament, if you talk about parliament, if you talk about

:26:52. > :26:53.change, look at the MPs under 30. change, look at the MPs under 30.

:26:53. > :26:54.change, look at the MPs under 30. change, look at the MPs under 30.

:26:54. > :26:56.There are 28 MPs under 30, half are There are 28 MPs under 30, half are

:26:56. > :26:56.There are 28 MPs under 30, half are There are 28 MPs under 30, half are

:26:56. > :26:57.women. What I'm saying is we can't women. What I'm saying is we can't

:26:57. > :26:58.women. What I'm saying is we can't women. What I'm saying is we can't

:26:58. > :27:00.afford to wait the decade that it afford to wait the decade that it

:27:00. > :27:01.afford to wait the decade that it afford to wait the decade that it

:27:01. > :27:02.will take for that change to play will take for that change to play

:27:02. > :27:02.will take for that change to play will take for that change to play

:27:02. > :27:03.out. I know the Labour Party isn't out. I know the Labour Party isn't

:27:03. > :27:04.out. I know the Labour Party isn't changing but the Conservative Party

:27:04. > :27:06.changing but the Conservative Party changing but the Conservative Party

:27:06. > :27:06.changing but the Conservative Party is. If we just look at the current

:27:06. > :27:08.is. If we just look at the current by-election, the Conservative

:27:08. > :27:10.by-election, the Conservative by-election, the Conservative

:27:10. > :27:11.candidate was a woman, the UKIP candidate was a woman, the UKIP

:27:11. > :27:14.candidate was a woman, the UKIP candidate of a woman, Labour and

:27:14. > :27:15.candidate of a woman, Labour and candidate of a woman, Labour and

:27:15. > :27:15.candidate of a woman, Labour and liberals put up men. In the Corby

:27:16. > :27:17.liberals put up men. In the Corby by-election the excellent

:27:17. > :27:18.by-election the excellent by-election the excellent

:27:18. > :27:20.Conservative candidate was a woman, Conservative candidate was a woman,

:27:20. > :27:22.Conservative candidate was a woman, Conservative candidate was a woman,

:27:22. > :27:23.Labour put up a man candidate. The Labour put up a man candidate. The

:27:23. > :27:24.Labour put up a man candidate. The Conservative Party has changed.

:27:24. > :27:25.Conservative Party has changed. Conservative Party has changed.

:27:25. > :27:26.Conservative Party has changed. can you say that when 16% of your

:27:26. > :27:27.can you say that when 16% of your can you say that when 16% of your

:27:27. > :27:28.can you say that when 16% of your MPs are women. I have explained the

:27:28. > :27:29.MPs are women. I have explained the MPs are women. I have explained the

:27:29. > :27:33.MPs are women. I have explained the last two elections we had a chance

:27:33. > :27:34.last two elections we had a chance last two elections we had a chance

:27:34. > :27:35.of whelming -- winning were women. of whelming -- winning were women.

:27:35. > :27:37.of whelming -- winning were women. of whelming -- winning were women.

:27:37. > :27:38.It is very slow, and the Commons is It is very slow, and the Commons is

:27:38. > :27:39.not factually a family-friendly not factually a family-friendly

:27:39. > :27:40.not factually a family-friendly not factually a family-friendly

:27:40. > :27:42.place? That is one of the issues. place? That is one of the issues.

:27:42. > :27:43.place? That is one of the issues. place? That is one of the issues.

:27:43. > :27:45.I'm sure my wife would have made a I'm sure my wife would have made a

:27:45. > :27:46.I'm sure my wife would have made a very good MP. Mrs Bone probably

:27:46. > :27:47.very good MP. Mrs Bone probably very good MP. Mrs Bone probably

:27:47. > :27:48.very good MP. Mrs Bone probably would. She comes up a lot in Prime

:27:48. > :27:50.would. She comes up a lot in Prime would. She comes up a lot in Prime

:27:50. > :27:51.Minister's Questions, why is she Minister's Questions, why is she

:27:51. > :27:52.Minister's Questions, why is she not here tonight? Because Peter's

:27:52. > :27:54.not here tonight? Because Peter's not here tonight? Because Peter's

:27:54. > :27:55.career was more important. She has career was more important. She has

:27:55. > :27:56.career was more important. She has to do other things. She wouldn't

:27:56. > :27:57.to do other things. She wouldn't to do other things. She wouldn't

:27:57. > :27:58.say, that bringing up the three say, that bringing up the three

:27:58. > :27:59.say, that bringing up the three children was more important to her.

:27:59. > :28:00.children was more important to her. children was more important to her.

:28:00. > :28:01.children was more important to her. I can't have children or bring them

:28:01. > :28:03.I can't have children or bring them I can't have children or bring them

:28:03. > :28:04.I can't have children or bring them up. I'm really against the idea of

:28:04. > :28:05.up. I'm really against the idea of up. I'm really against the idea of

:28:05. > :28:05.up. I'm really against the idea of quotas, do we have to have X number

:28:05. > :28:07.quotas, do we have to have X number quotas, do we have to have X number

:28:07. > :28:09.quotas, do we have to have X number of men and women. Do we have X

:28:09. > :28:10.of men and women. Do we have X of men and women. Do we have X

:28:10. > :28:12.number of people from state number of people from state

:28:12. > :28:13.number of people from state education, and X number of people

:28:13. > :28:15.education, and X number of people education, and X number of people

:28:15. > :28:16.from minorities. You say you are from minorities. You say you are

:28:16. > :28:17.from minorities. You say you are from minorities. You say you are

:28:17. > :28:18.against quotas, and this is what is against quotas, and this is what is

:28:18. > :28:19.against quotas, and this is what is against quotas, and this is what is

:28:19. > :28:21.so irritating as W you want the so irritating as W you want the

:28:21. > :28:22.so irritating as W you want the best person. How come that

:28:22. > :28:23.best person. How come that best person. How come that

:28:23. > :28:25.essentially for the last 500 years essentially for the last 500 years

:28:25. > :28:26.essentially for the last 500 years we have had a male-only shortlist.

:28:26. > :28:28.we have had a male-only shortlist. we have had a male-only shortlist.

:28:28. > :28:29.we have had a male-only shortlist. Don't tell me a lot of those

:28:29. > :28:30.Don't tell me a lot of those Don't tell me a lot of those

:28:30. > :28:30.mediocre people that became MPs mediocre people that became MPs

:28:30. > :28:32.mediocre people that became MPs because they were men some how

:28:32. > :28:34.because they were men some how because they were men some how

:28:34. > :28:39.deserved T they didn't. The system deserved T they didn't. The system

:28:39. > :28:42.deserved T they didn't. The system deserved T they didn't. The system

:28:42. > :28:43.works in their favour. It is about works in their favour. It is about

:28:43. > :28:44.works in their favour. It is about changing the system. When the

:28:44. > :28:46.changing the system. When the changing the system. When the

:28:46. > :28:48.Labour had the leadership election Labour had the leadership election

:28:48. > :28:51.Labour had the leadership election Labour had the leadership election

:28:51. > :28:53.there was a token woman. There was there was a token woman. There was

:28:53. > :28:54.there was a token woman. There was Diane Abbott. She was a stoken

:28:54. > :28:55.Diane Abbott. She was a stoken Diane Abbott. She was a stoken

:28:55. > :28:56.Diane Abbott. She was a stoken woman? You went from 9% up to 16%,

:28:56. > :28:57.woman? You went from 9% up to 16%, woman? You went from 9% up to 16%,

:28:57. > :28:59.woman? You went from 9% up to 16%, you are right, that is a change.

:28:59. > :29:01.you are right, that is a change. you are right, that is a change.

:29:01. > :29:03.you are right, that is a change. But it is a minuscule amount going

:29:03. > :29:04.But it is a minuscule amount going But it is a minuscule amount going

:29:04. > :29:05.But it is a minuscule amount going to a very small amount. It is

:29:05. > :29:05.to a very small amount. It is to a very small amount. It is

:29:05. > :29:06.to a very small amount. It is improvement. But you were so bad to

:29:06. > :29:07.improvement. But you were so bad to improvement. But you were so bad to

:29:07. > :29:08.improvement. But you were so bad to start with. Would you accept on the

:29:08. > :29:10.start with. Would you accept on the start with. Would you accept on the

:29:10. > :29:10.start with. Would you accept on the basis of what you said, that your

:29:10. > :29:12.basis of what you said, that your basis of what you said, that your

:29:12. > :29:14.wife wanting to bring up children, wife wanting to bring up children,

:29:14. > :29:15.wife wanting to bring up children, that women have to make more

:29:15. > :29:15.that women have to make more that women have to make more

:29:15. > :29:17.sacrifices to get into parliament sacrifices to get into parliament

:29:17. > :29:17.sacrifices to get into parliament sacrifices to get into parliament

:29:17. > :29:18.and do you accept that? Yes, I had and do you accept that? Yes, I had

:29:18. > :29:19.and do you accept that? Yes, I had and do you accept that? Yes, I had

:29:19. > :29:20.to put my three kids to bed before to put my three kids to bed before

:29:20. > :29:21.to put my three kids to bed before to put my three kids to bed before

:29:21. > :29:22.I came here tonight, of course it I came here tonight, of course it

:29:22. > :29:24.I came here tonight, of course it I came here tonight, of course it

:29:24. > :29:25.is harder. But there are a lot of is harder. But there are a lot of

:29:25. > :29:26.is harder. But there are a lot of is harder. But there are a lot of

:29:26. > :29:27.male MPs who would prefer to be male MPs who would prefer to be

:29:27. > :29:28.male MPs who would prefer to be male MPs who would prefer to be

:29:28. > :29:29.able to spend more time with their able to spend more time with their

:29:29. > :29:29.able to spend more time with their able to spend more time with their

:29:29. > :29:30.kid. It would help men and women. kid. It would help men and women.

:29:30. > :29:31.kid. It would help men and women. kid. It would help men and women.

:29:31. > :29:32.kid. It would help men and women. It is an issue that I have at the

:29:32. > :29:33.It is an issue that I have at the It is an issue that I have at the

:29:33. > :29:34.moment, we have a 12-year-old, my moment, we have a 12-year-old, my

:29:34. > :29:35.moment, we have a 12-year-old, my moment, we have a 12-year-old, my

:29:35. > :29:36.wife will say she feels like a wife will say she feels like a

:29:36. > :29:37.wife will say she feels like a wife will say she feels like a

:29:37. > :29:40.single mum all the time because I'm single mum all the time because I'm

:29:40. > :29:41.single mum all the time because I'm in Westminster. That is the one

:29:41. > :29:44.in Westminster. That is the one in Westminster. That is the one

:29:44. > :29:46.down side I found in parliament. down side I found in parliament.

:29:46. > :29:47.down side I found in parliament. On this moment of common ground,

:29:47. > :29:52.On this moment of common ground, On this moment of common ground,

:29:52. > :29:53.what do you think is necessary? what do you think is necessary?

:29:53. > :29:55.what do you think is necessary? Presumably if there is quotas for

:29:55. > :29:57.Presumably if there is quotas for Presumably if there is quotas for

:29:57. > :29:58.anything like that, some women will anything like that, some women will

:29:58. > :29:59.anything like that, some women will anything like that, some women will

:29:59. > :30:00.feel I'm here for my gender rather feel I'm here for my gender rather

:30:00. > :30:02.feel I'm here for my gender rather than talent. And some women will

:30:02. > :30:03.than talent. And some women will than talent. And some women will

:30:03. > :30:04.than talent. And some women will make that point to them? Some men

:30:04. > :30:05.make that point to them? Some men make that point to them? Some men

:30:05. > :30:06.should feel they are only here should feel they are only here

:30:06. > :30:07.should feel they are only here because of their gender if they

:30:07. > :30:08.because of their gender if they because of their gender if they

:30:08. > :30:09.because of their gender if they look at the standard. It is absurd

:30:09. > :30:10.look at the standard. It is absurd look at the standard. It is absurd

:30:10. > :30:11.to maintain we can't find enough to maintain we can't find enough

:30:11. > :30:12.to maintain we can't find enough talented women. What will need to

:30:12. > :30:15.talented women. What will need to talented women. What will need to

:30:15. > :30:16.talented women. What will need to be done? We need to change the way

:30:16. > :30:18.be done? We need to change the way parties actually select their

:30:18. > :30:21.parties actually select their parties actually select their

:30:21. > :30:22.parties actually select their candidates. We need to, I think, do

:30:22. > :30:23.candidates. We need to, I think, do candidates. We need to, I think, do

:30:23. > :30:24.candidates. We need to, I think, do what the Labour Party did, which is

:30:24. > :30:25.what the Labour Party did, which is what the Labour Party did, which is

:30:25. > :30:25.what the Labour Party did, which is to have those quotas, that is how

:30:25. > :30:26.to have those quotas, that is how to have those quotas, that is how

:30:26. > :30:27.to have those quotas, that is how we increased our MPs. The Lib Dems,

:30:27. > :30:28.we increased our MPs. The Lib Dems, we increased our MPs. The Lib Dems,

:30:28. > :30:29.we increased our MPs. The Lib Dems, who don't do any of this, they are

:30:29. > :30:34.who don't do any of this, they are who don't do any of this, they are

:30:34. > :30:39.the ones with the very smallest the ones with the very smallest

:30:39. > :30:41.the ones with the very smallest number. They are an irrelevance?

:30:41. > :30:42.number. They are an irrelevance? number. They are an irrelevance?

:30:42. > :30:43.might care after the by-election? might care after the by-election?

:30:43. > :30:44.There is reverse discrimination There is reverse discrimination

:30:44. > :30:45.There is reverse discrimination There is reverse discrimination

:30:45. > :30:47.going on, we are finding very good going on, we are finding very good

:30:47. > :30:48.going on, we are finding very good male candidates are being quietly

:30:48. > :30:49.male candidates are being quietly male candidates are being quietly

:30:49. > :30:51.overlook, trying to get the number overlook, trying to get the number

:30:51. > :30:52.overlook, trying to get the number overlook, trying to get the number

:30:52. > :30:53.of women in. Oh Peter, honestly, oh of women in. Oh Peter, honestly, oh

:30:53. > :30:53.of women in. Oh Peter, honestly, oh of women in. Oh Peter, honestly, oh

:30:53. > :30:54.my goodness. I have a good young my goodness. I have a good young

:30:54. > :30:55.my goodness. I have a good young guy who has gone before a

:30:55. > :30:56.guy who has gone before a guy who has gone before a

:30:56. > :30:57.parliamentary board and hope he parliamentary board and hope he

:30:57. > :30:58.parliamentary board and hope he gets through, he will find it

:30:58. > :30:59.gets through, he will find it gets through, he will find it

:30:59. > :31:00.difficult. And I'm really pleased difficult. And I'm really pleased

:31:00. > :31:02.difficult. And I'm really pleased that the Conservative Party is now

:31:02. > :31:02.that the Conservative Party is now that the Conservative Party is now

:31:02. > :31:03.bringing the best people forward bringing the best people forward

:31:03. > :31:05.bringing the best people forward for selection and we are choosing

:31:05. > :31:06.for selection and we are choosing for selection and we are choosing

:31:06. > :31:07.for selection and we are choosing more women than men. But you say he

:31:07. > :31:08.more women than men. But you say he more women than men. But you say he

:31:08. > :31:09.will find it difficult, do you will find it difficult, do you

:31:09. > :31:11.will find it difficult, do you understand how difficult it is for

:31:11. > :31:13.understand how difficult it is for understand how difficult it is for

:31:13. > :31:14.understand how difficult it is for women who try to break into this

:31:14. > :31:17.women who try to break into this absolutely male-dominated culture.

:31:17. > :31:19.absolutely male-dominated culture. absolutely male-dominated culture.

:31:19. > :31:20.It is not actually. You haven't It is not actually. You haven't

:31:20. > :31:22.It is not actually. You haven't left parliament. Yes I'm in

:31:22. > :31:23.left parliament. Yes I'm in left parliament. Yes I'm in

:31:23. > :31:27.parliament, I'm surrounded all the parliament, I'm surrounded all the

:31:27. > :31:28.parliament, I'm surrounded all the time by men outnumbered 4-1. There

:31:28. > :31:29.time by men outnumbered 4-1. There time by men outnumbered 4-1. There

:31:29. > :31:29.time by men outnumbered 4-1. There are four men for every one woman in

:31:29. > :31:31.are four men for every one woman in are four men for every one woman in

:31:31. > :31:32.are four men for every one woman in the House of Lords. It is a

:31:32. > :31:36.the House of Lords. It is a the House of Lords. It is a

:31:36. > :31:37.ridiculous thing you are saying, ridiculous thing you are saying,

:31:37. > :31:38.and completely male-dominated. and completely male-dominated.

:31:38. > :31:40.Agreement disappeared. There has Agreement disappeared. There has

:31:40. > :31:41.Agreement disappeared. There has Agreement disappeared. There has

:31:41. > :31:42.rarely been a time when we have rarely been a time when we have

:31:42. > :31:44.rarely been a time when we have become so conscious of what goes

:31:44. > :31:45.become so conscious of what goes become so conscious of what goes

:31:45. > :31:46.into our food, particularly meat. into our food, particularly meat.

:31:46. > :31:47.While the horsemeat scandal While the horsemeat scandal

:31:47. > :31:48.While the horsemeat scandal continues, there are concerns about

:31:48. > :31:49.continues, there are concerns about continues, there are concerns about

:31:49. > :31:50.sheep in the lambing season. This sheep in the lambing season. This

:31:50. > :31:51.sheep in the lambing season. This sheep in the lambing season. This

:31:51. > :31:52.is a virus that is causing still is a virus that is causing still

:31:52. > :31:53.is a virus that is causing still births in sheep, along with some

:31:53. > :31:55.births in sheep, along with some births in sheep, along with some

:31:55. > :31:57.goats and cattle. The virus was goats and cattle. The virus was

:31:57. > :31:59.goats and cattle. The virus was first discovered in the village in

:32:00. > :32:02.northern Germany. northern Germany.

:32:02. > :32:02.northern Germany. northern Germany.

:32:02. > :32:04.We report on a new headache for We report on a new headache for

:32:04. > :32:04.We report on a new headache for We report on a new headache for

:32:05. > :32:11.farmers, you may find some of the farmers, you may find some of the

:32:11. > :32:12.farmers, you may find some of the pictures in this report disturbing.

:32:12. > :32:13.pictures in this report disturbing. pictures in this report disturbing.

:32:13. > :32:14.pictures in this report disturbing. Normally at lambing time it is a

:32:14. > :32:15.Normally at lambing time it is a Normally at lambing time it is a

:32:15. > :32:16.great time of excitement, enjoying great time of excitement, enjoying

:32:16. > :32:16.great time of excitement, enjoying great time of excitement, enjoying

:32:16. > :32:17.bring new life and birth into the bring new life and birth into the

:32:17. > :32:18.bring new life and birth into the bring new life and birth into the

:32:18. > :32:19.world. This year I total low lost world. This year I total low lost

:32:19. > :32:19.world. This year I total low lost world. This year I total low lost

:32:20. > :32:20.world. This year I total low lost all that. I think it is one of the

:32:20. > :32:21.all that. I think it is one of the all that. I think it is one of the

:32:21. > :32:22.most traumatic and difficult things most traumatic and difficult things

:32:22. > :32:22.most traumatic and difficult things most traumatic and difficult things

:32:22. > :32:31.most traumatic and difficult things I have had to face in 30 years of

:32:31. > :32:33.keeping sheep. keeping sheep.

:32:33. > :32:36.keeping sheep. keeping sheep.

:32:36. > :32:38.The lambing season is under way in The lambing season is under way in

:32:38. > :32:40.The lambing season is under way in Leicester, another 2,000 ewes will

:32:40. > :32:41.Leicester, another 2,000 ewes will Leicester, another 2,000 ewes will

:32:41. > :32:42.soon give birth to 3,000 lambs. soon give birth to 3,000 lambs.

:32:42. > :32:44.soon give birth to 3,000 lambs. soon give birth to 3,000 lambs.

:32:44. > :32:45.This year farmers up and down the This year farmers up and down the

:32:45. > :32:47.This year farmers up and down the country are nervous. In the early

:32:47. > :32:48.country are nervous. In the early country are nervous. In the early

:32:49. > :32:50.season in December, Charles lost 80 season in December, Charles lost 80

:32:50. > :32:52.season in December, Charles lost 80 season in December, Charles lost 80

:32:52. > :32:53.lambs to a new disease, carried and lambs to a new disease, carried and

:32:53. > :32:55.lambs to a new disease, carried and spread by common midges. In the

:32:55. > :32:56.spread by common midges. In the spread by common midges. In the

:32:56. > :32:57.earlyly lambing season, we in theed earlyly lambing season, we in theed

:32:58. > :32:59.earlyly lambing season, we in theed severe deformations in the lambs

:32:59. > :33:00.severe deformations in the lambs severe deformations in the lambs

:33:00. > :33:01.severe deformations in the lambs when they were born. We had the

:33:01. > :33:02.when they were born. We had the when they were born. We had the

:33:02. > :33:03.when they were born. We had the virus in there, it ended up with

:33:03. > :33:04.virus in there, it ended up with virus in there, it ended up with

:33:04. > :33:05.virus in there, it ended up with losing 40% of the lambs in the

:33:05. > :33:05.losing 40% of the lambs in the losing 40% of the lambs in the

:33:05. > :33:06.losing 40% of the lambs in the early flock. What does it mean to

:33:06. > :33:07.early flock. What does it mean to early flock. What does it mean to

:33:07. > :33:08.early flock. What does it mean to early flock. What does it mean to

:33:08. > :33:09.you as a farm? As a farm it will you as a farm? As a farm it will

:33:09. > :33:11.you as a farm? As a farm it will you as a farm? As a farm it will

:33:11. > :33:15.have an impact, we will have less have an impact, we will have less

:33:15. > :33:18.have an impact, we will have less lambs to sell. I have stealthed

:33:18. > :33:19.lambs to sell. I have stealthed somewhere between �12,000-�15,000

:33:19. > :33:20.somewhere between �12,000-�15,000 somewhere between �12,000-�15,000

:33:20. > :33:22.somewhere between �12,000-�15,000 this year, on that one flock alone

:33:22. > :33:23.this year, on that one flock alone this year, on that one flock alone

:33:23. > :33:24.because of the virus. Nobody knows because of the virus. Nobody knows

:33:24. > :33:25.because of the virus. Nobody knows because of the virus. Nobody knows

:33:25. > :33:26.how and why the virus has taken how and why the virus has taken

:33:26. > :33:27.how and why the virus has taken how and why the virus has taken

:33:27. > :33:28.hold so quickly it was named after hold so quickly it was named after

:33:28. > :33:30.hold so quickly it was named after the German village where it was

:33:30. > :33:31.the German village where it was the German village where it was

:33:31. > :33:32.first detected, the disease is first detected, the disease is

:33:32. > :33:33.first detected, the disease is barely noticable in adult animals.

:33:33. > :33:34.barely noticable in adult animals. barely noticable in adult animals.

:33:34. > :33:36.barely noticable in adult animals. It was only when infected sheep and

:33:36. > :33:37.It was only when infected sheep and It was only when infected sheep and

:33:37. > :33:38.cows gave birth that farmers cows gave birth that farmers

:33:38. > :33:40.immediately realised something was wrong.

:33:40. > :33:42.wrong. wrong.

:33:42. > :33:44.wrong. Most of the lambs were still born,

:33:44. > :33:45.Most of the lambs were still born, Most of the lambs were still born,

:33:46. > :33:48.the ones still breathing had the ones still breathing had

:33:48. > :33:49.serious abnormalities, used bone, serious abnormalities, used bone,

:33:49. > :33:53.serious abnormalities, used bone, bent limbs, missing organ, all had

:33:53. > :33:55.bent limbs, missing organ, all had bent limbs, missing organ, all had

:33:55. > :33:57.bent limbs, missing organ, all had to be put down. The virus itself

:33:57. > :33:58.to be put down. The virus itself to be put down. The virus itself

:33:58. > :33:59.to be put down. The virus itself poses no health risks to humans, in

:33:59. > :34:00.poses no health risks to humans, in poses no health risks to humans, in

:34:00. > :34:02.poses no health risks to humans, in adult cows it leads to a drop in

:34:02. > :34:03.adult cows it leads to a drop in adult cows it leads to a drop in

:34:03. > :34:04.milk production, but they recover milk production, but they recover

:34:04. > :34:06.milk production, but they recover quickly. The real problem seems to

:34:06. > :34:06.quickly. The real problem seems to quickly. The real problem seems to

:34:06. > :34:08.quickly. The real problem seems to be in unborn lambs and calves. From

:34:08. > :34:10.be in unborn lambs and calves. From be in unborn lambs and calves. From

:34:10. > :34:18.the first European cases, near the the first European cases, near the

:34:18. > :34:20.the first European cases, near the German-Dutch boarder in 2011, the

:34:20. > :34:22.German-Dutch boarder in 2011, the German-Dutch boarder in 2011, the

:34:22. > :34:23.virus moved quickly, new waves of virus moved quickly, new waves of

:34:23. > :34:25.virus moved quickly, new waves of midges bite more livestock. In

:34:25. > :34:27.midges bite more livestock. In midges bite more livestock. In

:34:27. > :34:29.England and Wales the total number England and Wales the total number

:34:29. > :34:30.England and Wales the total number of infected farms has jumped from

:34:30. > :34:31.of infected farms has jumped from of infected farms has jumped from

:34:31. > :34:32.of infected farms has jumped from 276 last summer to 1200. The real

:34:32. > :34:33.276 last summer to 1200. The real 276 last summer to 1200. The real

:34:33. > :34:35.276 last summer to 1200. The real figure could be higher, as there is

:34:35. > :34:37.figure could be higher, as there is figure could be higher, as there is

:34:37. > :34:38.no legal requirements to report no legal requirements to report

:34:38. > :34:39.no legal requirements to report cases. Schmallenberg comes just a

:34:40. > :34:41.cases. Schmallenberg comes just a cases. Schmallenberg comes just a

:34:41. > :34:42.few years after another outbreak few years after another outbreak

:34:42. > :34:44.few years after another outbreak spread by insects, blue tongue.

:34:44. > :34:45.spread by insects, blue tongue. spread by insects, blue tongue.

:34:45. > :34:46.With diseases like this, if there With diseases like this, if there

:34:46. > :34:48.With diseases like this, if there With diseases like this, if there

:34:48. > :34:48.is no risk to human health and no is no risk to human health and no

:34:48. > :34:50.is no risk to human health and no culling takes place, there is no

:34:50. > :34:52.culling takes place, there is no culling takes place, there is no

:34:52. > :34:54.compensation. The costs are paid compensation. The costs are paid

:34:54. > :34:57.compensation. The costs are paid entirely by the farmer. This type

:34:57. > :34:59.entirely by the farmer. This type entirely by the farmer. This type

:34:59. > :35:00.of virus spreads much quicker, it of virus spreads much quicker, it

:35:00. > :35:01.is more explosive, epidemic, is more explosive, epidemic,

:35:01. > :35:02.is more explosive, epidemic, probably because of the midges

:35:02. > :35:03.probably because of the midges probably because of the midges

:35:03. > :35:05.probably because of the midges carrying it more easily and more of

:35:05. > :35:06.carrying it more easily and more of carrying it more easily and more of

:35:06. > :35:08.the midges are infected. The best the midges are infected. The best

:35:08. > :35:09.the midges are infected. The best guess for where the virus

:35:09. > :35:10.guess for where the virus guess for where the virus

:35:10. > :35:11.originally came from, is probably originally came from, is probably

:35:11. > :35:12.originally came from, is probably central and North Africa. It is

:35:12. > :35:14.central and North Africa. It is central and North Africa. It is

:35:14. > :35:15.probably where blue tongue came probably where blue tongue came

:35:15. > :35:19.probably where blue tongue came from too. It is probably coming

:35:19. > :35:20.from too. It is probably coming through with shipments of

:35:20. > :35:24.through with shipments of agricultural goods, flowers, fruit,

:35:24. > :35:25.agricultural goods, flowers, fruit, agricultural goods, flowers, fruit,

:35:26. > :35:27.that kind of thing. At Nottingham that kind of thing. At Nottingham

:35:27. > :35:28.university researchers are working university researchers are working

:35:28. > :35:30.university researchers are working university researchers are working

:35:31. > :35:32.with a live culture of the virus. with a live culture of the virus.

:35:32. > :35:35.with a live culture of the virus. with a live culture of the virus.

:35:35. > :35:38.It is predicted 6% will die of a It is predicted 6% will die of a

:35:38. > :35:40.It is predicted 6% will die of a disease in the inflected flock. On

:35:40. > :35:41.disease in the inflected flock. On disease in the inflected flock. On

:35:41. > :35:42.some farms mortality rates are much, some farms mortality rates are much,

:35:42. > :35:43.some farms mortality rates are much, much higher than that. What is

:35:43. > :35:43.much higher than that. What is much higher than that. What is

:35:43. > :35:44.controversial at the moment is some controversial at the moment is some

:35:44. > :35:45.controversial at the moment is some controversial at the moment is some

:35:45. > :35:47.of the farms we have data for are of the farms we have data for are

:35:47. > :35:48.of the farms we have data for are of the farms we have data for are

:35:48. > :35:49.saying they have 30% or more losses, saying they have 30% or more losses,

:35:49. > :35:50.saying they have 30% or more losses, saying they have 30% or more losses,

:35:50. > :35:51.the farms next door might only have the farms next door might only have

:35:51. > :35:53.the farms next door might only have the farms next door might only have

:35:53. > :35:54.less than 6%. So we know it is less than 6%. So we know it is

:35:54. > :35:56.less than 6%. So we know it is spread through the whole region,

:35:56. > :35:58.spread through the whole region, spread through the whole region,

:35:58. > :35:59.but what is happening on each but what is happening on each

:35:59. > :36:01.but what is happening on each individual farm depends on when the

:36:01. > :36:02.individual farm depends on when the individual farm depends on when the

:36:02. > :36:04.midges bit the animals and it midges bit the animals and it

:36:04. > :36:04.midges bit the animals and it midges bit the animals and it

:36:04. > :36:05.varies very much from farm to farm. varies very much from farm to farm.

:36:05. > :36:07.varies very much from farm to farm. varies very much from farm to farm.

:36:07. > :36:08.It makes it hard to give a whole It makes it hard to give a whole

:36:08. > :36:08.It makes it hard to give a whole It makes it hard to give a whole

:36:08. > :36:10.figure. The hope is now the virus figure. The hope is now the virus

:36:10. > :36:11.figure. The hope is now the virus will hit those very first lambs,

:36:11. > :36:12.will hit those very first lambs, will hit those very first lambs,

:36:12. > :36:13.will hit those very first lambs, born in the early season, and the

:36:13. > :36:14.born in the early season, and the born in the early season, and the

:36:14. > :36:15.main flocks will escape the worst main flocks will escape the worst

:36:15. > :36:16.main flocks will escape the worst of the outbreak. The Government's

:36:16. > :36:17.of the outbreak. The Government's of the outbreak. The Government's

:36:17. > :36:19.of the outbreak. The Government's chief vet said that should be the

:36:19. > :36:20.chief vet said that should be the chief vet said that should be the

:36:20. > :36:22.case, buying the industry some time case, buying the industry some time

:36:22. > :36:23.case, buying the industry some time until a vaccine can be developed.

:36:23. > :36:24.until a vaccine can be developed. until a vaccine can be developed.

:36:24. > :36:25.The most important thing for some The most important thing for some

:36:25. > :36:26.The most important thing for some The most important thing for some

:36:26. > :36:27.farmers now, is to get a vaccine farmers now, is to get a vaccine

:36:27. > :36:28.farmers now, is to get a vaccine for the virus, licensed and

:36:28. > :36:30.for the virus, licensed and for the virus, licensed and

:36:30. > :36:32.available for use. Unless it is available for use. Unless it is

:36:32. > :36:33.available for use. Unless it is available for use. Unless it is

:36:33. > :36:33.approved and given to these ewes in approved and given to these ewes in

:36:33. > :36:34.approved and given to these ewes in approved and given to these ewes in

:36:34. > :36:36.the next two months, they won't be the next two months, they won't be

:36:36. > :36:37.the next two months, they won't be proebgt ited when the midges come

:36:37. > :36:39.proebgt ited when the midges come proebgt ited when the midges come

:36:39. > :36:41.back this -- protects when the back this -- protects when the

:36:41. > :36:42.back this -- protects when the midges come back this summer. The

:36:42. > :36:44.midges come back this summer. The midges come back this summer. The

:36:44. > :36:46.bigger question is why new animal bigger question is why new animal

:36:46. > :36:47.bigger question is why new animal diseases are appearing now. Some

:36:48. > :36:49.diseases are appearing now. Some diseases are appearing now. Some

:36:49. > :36:50.think subtle changes in the climate think subtle changes in the climate

:36:51. > :36:52.think subtle changes in the climate are pushing midges and other

:36:52. > :36:53.are pushing midges and other are pushing midges and other

:36:53. > :36:54.insected further not. Others say it insected further not. Others say it

:36:54. > :36:55.insected further not. Others say it might be the fast movement of

:36:55. > :36:56.might be the fast movement of might be the fast movement of

:36:56. > :36:57.livestock across borders. It is livestock across borders. It is

:36:57. > :36:58.livestock across borders. It is livestock across borders. It is

:36:58. > :37:00.something we have to get used to. something we have to get used to.

:37:00. > :37:01.something we have to get used to. Unfortunately as the world becomes

:37:01. > :37:03.Unfortunately as the world becomes Unfortunately as the world becomes

:37:03. > :37:04.smaller, we become a more smaller, we become a more

:37:04. > :37:05.smaller, we become a more globalised industry. The threat of

:37:05. > :37:07.globalised industry. The threat of climate change means exotic

:37:07. > :37:08.climate change means exotic climate change means exotic

:37:08. > :37:09.diseases are more likely to cross diseases are more likely to cross

:37:09. > :37:10.diseases are more likely to cross diseases are more likely to cross

:37:10. > :37:11.the shores as we move forward. the shores as we move forward.

:37:11. > :37:13.the shores as we move forward. the moment then, many British

:37:13. > :37:15.the moment then, many British the moment then, many British

:37:15. > :37:16.farmers will be left hoping. Hoping farmers will be left hoping. Hoping

:37:16. > :37:18.farmers will be left hoping. Hoping early worries about the disease are

:37:18. > :37:19.early worries about the disease are early worries about the disease are

:37:19. > :37:20.misplaced. Hoping a vaccine can be misplaced. Hoping a vaccine can be

:37:20. > :37:21.misplaced. Hoping a vaccine can be developed and approved quickly. And

:37:21. > :37:22.developed and approved quickly. And developed and approved quickly. And

:37:22. > :37:23.hoping the sudden rise of this hoping the sudden rise of this

:37:23. > :37:26.hoping the sudden rise of this hoping the sudden rise of this

:37:26. > :37:28.virus is not a sign of things to come.

:37:28. > :37:29.come. come.

:37:29. > :37:34.Still to come tomorrow's front Still to come tomorrow's front

:37:34. > :37:36.Still to come tomorrow's front pages. First, Pope Benedict ceased

:37:36. > :37:36.pages. First, Pope Benedict ceased pages. First, Pope Benedict ceased

:37:36. > :37:38.to be Pope earlier this evening, to be Pope earlier this evening,

:37:38. > :37:40.to be Pope earlier this evening, to be Pope earlier this evening,

:37:40. > :37:42.and flew off for a life of prayer and flew off for a life of prayer

:37:42. > :37:43.and flew off for a life of prayer and reflection. He is Pope emeritus.

:37:44. > :37:46.and reflection. He is Pope emeritus. and reflection. He is Pope emeritus.

:37:46. > :37:48.There will be two Popes statement, There will be two Popes statement,

:37:48. > :37:50.There will be two Popes statement, and whoever will be his successor,

:37:50. > :37:50.and whoever will be his successor, and whoever will be his successor,

:37:51. > :37:55.and whoever will be his successor, and will inherit what some si see

:37:55. > :37:58.and will inherit what some si see and will inherit what some si see

:37:58. > :38:00.as a papacy tinged with corruption. as a papacy tinged with corruption.

:38:00. > :38:01.as a papacy tinged with corruption. It has been day of amazing

:38:01. > :38:02.It has been day of amazing theatricality, especially when you

:38:02. > :38:03.theatricality, especially when you theatricality, especially when you

:38:03. > :38:04.consider three weeks ago the consider three weeks ago the

:38:04. > :38:06.consider three weeks ago the Vatican didn't know this was going

:38:06. > :38:07.Vatican didn't know this was going Vatican didn't know this was going

:38:07. > :38:08.to happen. It began with Pope to happen. It began with Pope

:38:08. > :38:10.to happen. It began with Pope Benedict meeting the Cardinals, not

:38:10. > :38:10.Benedict meeting the Cardinals, not Benedict meeting the Cardinals, not

:38:10. > :38:11.only the Cardinal electors, who only the Cardinal electors, who

:38:11. > :38:12.only the Cardinal electors, who only the Cardinal electors, who

:38:13. > :38:14.will take part in the conclave in a will take part in the conclave in a

:38:15. > :38:16.will take part in the conclave in a couple of weeks. But the Cardinals

:38:16. > :38:17.couple of weeks. But the Cardinals couple of weeks. But the Cardinals

:38:17. > :38:18.couple of weeks. But the Cardinals couple of weeks. But the Cardinals

:38:18. > :38:20.over the age of 80 who have come to over the age of 80 who have come to

:38:20. > :38:21.over the age of 80 who have come to Rome. Many he has aponted himself.

:38:21. > :38:22.Rome. Many he has aponted himself. Rome. Many he has aponted himself.

:38:22. > :38:23.Rome. Many he has aponted himself. He told them the next -- aponted

:38:23. > :38:24.He told them the next -- aponted He told them the next -- aponted

:38:25. > :38:26.He told them the next -- aponted himself. He told them the next Pope

:38:26. > :38:27.himself. He told them the next Pope himself. He told them the next Pope

:38:27. > :38:28.himself. He told them the next Pope was in the room, and it is a

:38:28. > :38:29.was in the room, and it is a was in the room, and it is a

:38:29. > :38:30.reminder although he won't have say reminder although he won't have say

:38:30. > :38:31.reminder although he won't have say reminder although he won't have say

:38:31. > :38:32.reminder although he won't have say in the next Pope, he has had a very

:38:32. > :38:33.in the next Pope, he has had a very in the next Pope, he has had a very

:38:33. > :38:40.big say in choosing the Cardinals big say in choosing the Cardinals

:38:40. > :38:41.big say in choosing the Cardinals big say in choosing the Cardinals

:38:41. > :38:43.over the last eight years. In the over the last eight years. In the

:38:43. > :38:44.afternoon he slowly devested afternoon he slowly devested

:38:44. > :38:45.afternoon he slowly devested himself of the symbols and reality

:38:45. > :38:46.himself of the symbols and reality himself of the symbols and reality

:38:46. > :38:47.of papal authority. You saw this of papal authority. You saw this

:38:47. > :38:49.of papal authority. You saw this process, by which for the first

:38:49. > :38:49.process, by which for the first process, by which for the first

:38:50. > :38:51.process, by which for the first time in 600 years, the person of

:38:51. > :38:52.time in 600 years, the person of the Pope separated himself

:38:52. > :38:55.the Pope separated himself the Pope separated himself

:38:55. > :38:55.voluntarily from the office of the voluntarily from the office of the

:38:55. > :38:56.voluntarily from the office of the papacy. It ended at Castel Gandolfo

:38:56. > :38:58.papacy. It ended at Castel Gandolfo papacy. It ended at Castel Gandolfo

:38:58. > :38:59.papacy. It ended at Castel Gandolfo tonight, as he said to thousands of

:38:59. > :39:00.tonight, as he said to thousands of tonight, as he said to thousands of

:39:00. > :39:02.people, where he is adored, people, where he is adored,

:39:02. > :39:04.people, where he is adored, thousands of people, "I am no

:39:04. > :39:06.thousands of people, "I am no thousands of people, "I am no

:39:06. > :39:07.longer the supreme Pontiff, I am longer the supreme Pontiff, I am

:39:07. > :39:09.longer the supreme Pontiff, I am going to become a pilgrim and

:39:09. > :39:11.going to become a pilgrim and going to become a pilgrim and

:39:11. > :39:12.going to become a pilgrim and embark on the last journey of the

:39:12. > :39:13.embark on the last journey of the embark on the last journey of the

:39:13. > :39:14.earth". It was day of extraordinary earth". It was day of extraordinary

:39:14. > :39:15.earth". It was day of extraordinary poignant theatre. In terms of the

:39:15. > :39:16.poignant theatre. In terms of the poignant theatre. In terms of the

:39:16. > :39:18.future, what happens next and the future, what happens next and the

:39:18. > :39:18.future, what happens next and the future, what happens next and the

:39:19. > :39:20.moves to elect a new Pope? moves to elect a new Pope?

:39:20. > :39:21.moves to elect a new Pope? Monday the Cardinals start to

:39:21. > :39:23.Monday the Cardinals start to gather for their daily

:39:23. > :39:24.gather for their daily gather for their daily

:39:24. > :39:25.congregations in advance of the congregations in advance of the

:39:25. > :39:28.congregations in advance of the conclave. They will start to, one

:39:28. > :39:29.conclave. They will start to, one conclave. They will start to, one

:39:29. > :39:30.conclave. They will start to, one Cardinal said to me, they will not

:39:30. > :39:31.Cardinal said to me, they will not Cardinal said to me, they will not

:39:31. > :39:32.start naming names, they will ask start naming names, they will ask

:39:32. > :39:33.start naming names, they will ask start naming names, they will ask

:39:33. > :39:35.start naming names, they will ask what kind of man do we need to be

:39:35. > :39:36.what kind of man do we need to be what kind of man do we need to be

:39:36. > :39:36.the next Pope and identify the next Pope and identify

:39:36. > :39:38.the next Pope and identify qualities. And then the hard

:39:38. > :39:40.qualities. And then the hard business, the very political

:39:40. > :39:41.business, the very political business, the very political

:39:41. > :39:42.business of chosing names and business of chosing names and

:39:42. > :39:43.weighing up potential candidates weighing up potential candidates

:39:43. > :39:45.weighing up potential candidates and a shortlist is certain to

:39:45. > :39:46.and a shortlist is certain to and a shortlist is certain to

:39:46. > :39:47.emerge. Then, on Monday probblee, emerge. Then, on Monday probblee,

:39:47. > :39:48.emerge. Then, on Monday probblee, emerge. Then, on Monday probblee,

:39:48. > :39:50.we will find out the date of the we will find out the date of the

:39:50. > :39:51.we will find out the date of the con-- probably, we will find out

:39:51. > :39:51.con-- probably, we will find out con-- probably, we will find out

:39:51. > :39:52.con-- probably, we will find out the date of the conclave. There is

:39:52. > :39:54.the date of the conclave. There is the date of the conclave. There is

:39:54. > :39:55.a sense that the sooner the a sense that the sooner the

:39:55. > :39:57.a sense that the sooner the conclave is held, the more

:39:57. > :39:58.conclave is held, the more conclave is held, the more

:39:58. > :39:59.likelihood there is that the likelihood there is that the

:39:59. > :40:00.likelihood there is that the establishment here in the Vatican

:40:00. > :40:02.establishment here in the Vatican establishment here in the Vatican

:40:02. > :40:04.will have control over who becomes will have control over who becomes

:40:04. > :40:08.will have control over who becomes the next Pope. Manoeuvrings, have

:40:08. > :40:10.the next Pope. Manoeuvrings, have the next Pope. Manoeuvrings, have

:40:10. > :40:12.they already begun? Yes, quietly. they already begun? Yes, quietly.

:40:12. > :40:13.they already begun? Yes, quietly. Pope Benedict himself has been very

:40:13. > :40:15.Pope Benedict himself has been very Pope Benedict himself has been very

:40:15. > :40:17.specific, he's angered and dismayed specific, he's angered and dismayed

:40:17. > :40:18.specific, he's angered and dismayed by the infighting and back biting

:40:18. > :40:20.by the infighting and back biting by the infighting and back biting

:40:20. > :40:21.inside the curia and Vatican Civil inside the curia and Vatican Civil

:40:21. > :40:22.inside the curia and Vatican Civil Service. He is saying clearly the

:40:22. > :40:23.Service. He is saying clearly the Service. He is saying clearly the

:40:23. > :40:24.Service. He is saying clearly the next Pope needs to get on top of

:40:24. > :40:25.next Pope needs to get on top of next Pope needs to get on top of

:40:25. > :40:25.next Pope needs to get on top of that. There is a feeling here that

:40:25. > :40:27.that. There is a feeling here that that. There is a feeling here that

:40:27. > :40:28.that. There is a feeling here that the curia needs to be reformed and

:40:28. > :40:29.the curia needs to be reformed and the curia needs to be reformed and

:40:29. > :40:30.the curia needs to be reformed and revamped, that it is too rigidly in

:40:30. > :40:32.revamped, that it is too rigidly in revamped, that it is too rigidly in

:40:32. > :40:33.control of the church, and the control of the church, and the

:40:33. > :40:34.control of the church, and the hierarchy in the Vatican City is

:40:34. > :40:35.hierarchy in the Vatican City is hierarchy in the Vatican City is

:40:35. > :40:36.hierarchy in the Vatican City is too far distance from the work of

:40:36. > :40:37.too far distance from the work of too far distance from the work of

:40:37. > :40:37.too far distance from the work of the church in the world. There is a

:40:37. > :40:38.the church in the world. There is a the church in the world. There is a

:40:38. > :40:39.split opening up already between split opening up already between

:40:39. > :40:43.split opening up already between split opening up already between

:40:43. > :40:44.the men of the curia, and those the men of the curia, and those

:40:44. > :40:46.the men of the curia, and those whose Archbishops around the world

:40:46. > :40:47.whose Archbishops around the world whose Archbishops around the world

:40:47. > :40:48.are more Pastoral in character. One are more Pastoral in character. One

:40:48. > :40:49.are more Pastoral in character. One are more Pastoral in character. One

:40:49. > :40:51.Cardinal said today we need a Pope Cardinal said today we need a Pope

:40:51. > :40:51.Cardinal said today we need a Pope Cardinal said today we need a Pope

:40:51. > :40:52.who has a solid track record in who has a solid track record in

:40:52. > :40:54.who has a solid track record in postoral work. That is obviously

:40:54. > :40:56.postoral work. That is obviously postoral work. That is obviously

:40:56. > :40:58.postoral work. That is obviously aimed, if you like, that is a

:40:58. > :40:59.aimed, if you like, that is a aimed, if you like, that is a

:40:59. > :41:00.direct, veiled criticism of the men direct, veiled criticism of the men

:41:00. > :41:02.direct, veiled criticism of the men who have spent their entire careers

:41:02. > :41:05.who have spent their entire careers who have spent their entire careers

:41:05. > :41:08.inside the walls of the Vatican City.

:41:08. > :41:09.City. City.

:41:09. > :41:11.We have a Brazilian journalist who We have a Brazilian journalist who

:41:11. > :41:13.We have a Brazilian journalist who is a specialist in Vatican affairs,

:41:13. > :41:15.is a specialist in Vatican affairs, is a specialist in Vatican affairs,

:41:15. > :41:17.is a specialist in Vatican affairs, and we have the professor of the

:41:17. > :41:18.and we have the professor of the history of Christianity in

:41:18. > :41:19.history of Christianity in Cambridge University. How difficult

:41:19. > :41:20.Cambridge University. How difficult Cambridge University. How difficult

:41:20. > :41:21.Cambridge University. How difficult will it be for the next Pope, what

:41:21. > :41:23.will it be for the next Pope, what will it be for the next Pope, what

:41:23. > :41:26.will it be for the next Pope, what will it be for the next Pope, what

:41:26. > :41:29.does he have to do? He has to be does he have to do? He has to be

:41:29. > :41:31.somebody who is tough-minded, somebody who is tough-minded,

:41:31. > :41:34.somebody who is tough-minded, fairly ruthless. Willing to sack

:41:34. > :41:35.fairly ruthless. Willing to sack people. Who has sufficient

:41:35. > :41:38.people. Who has sufficient people. Who has sufficient

:41:38. > :41:38.experience in the Vatican to know experience in the Vatican to know

:41:38. > :41:40.experience in the Vatican to know experience in the Vatican to know

:41:41. > :41:42.where the problems are. And who has where the problems are. And who has

:41:42. > :41:44.where the problems are. And who has the resources to summon other

:41:44. > :41:45.the resources to summon other the resources to summon other

:41:46. > :41:47.people to take over important posts. people to take over important posts.

:41:47. > :41:48.people to take over important posts. people to take over important posts.

:41:49. > :41:50.A great many of the Cardinals will A great many of the Cardinals will

:41:50. > :41:51.A great many of the Cardinals will A great many of the Cardinals will

:41:51. > :41:53.be hoping this won't be simply a be hoping this won't be simply a

:41:53. > :41:55.be hoping this won't be simply a rearrangement within the curia. But

:41:55. > :41:56.rearrangement within the curia. But rearrangement within the curia. But

:41:56. > :41:58.a move towards involving more a move towards involving more

:41:58. > :42:00.closely in the central closely in the central

:42:00. > :42:02.closely in the central administration. I think that is a

:42:02. > :42:03.administration. I think that is a administration. I think that is a

:42:03. > :42:04.fairly remote possibility. But I fairly remote possibility. But I

:42:04. > :42:05.fairly remote possibility. But I think it is a widespread aspiration.

:42:05. > :42:06.think it is a widespread aspiration. think it is a widespread aspiration.

:42:06. > :42:07.think it is a widespread aspiration. In terms it of the aspiration, and

:42:07. > :42:10.In terms it of the aspiration, and In terms it of the aspiration, and

:42:10. > :42:11.how things are in Brazil, the how things are in Brazil, the

:42:11. > :42:12.world's most popular Catholic world's most popular Catholic

:42:12. > :42:13.world's most popular Catholic country and other places. What do

:42:13. > :42:14.country and other places. What do country and other places. What do

:42:14. > :42:16.country and other places. What do people want the new Pope to do for

:42:16. > :42:18.people want the new Pope to do for people want the new Pope to do for

:42:18. > :42:20.them, in the parishs, and the them, in the parishs, and the

:42:20. > :42:22.them, in the parishs, and the Archbishop rigs. They would like a

:42:22. > :42:23.Archbishop rigs. They would like a Archbishop rigs. They would like a

:42:23. > :42:24.Pope who took the Brazilians Pope who took the Brazilians

:42:24. > :42:25.Pope who took the Brazilians seriously, who at least knew

:42:25. > :42:33.seriously, who at least knew seriously, who at least knew

:42:33. > :42:35.nothing about this situation in nothing about this situation in

:42:35. > :42:36.nothing about this situation in Brazil. This hasn't happened, the

:42:36. > :42:38.Brazil. This hasn't happened, the Brazilians are perfectly ignored.

:42:38. > :42:40.Brazilians are perfectly ignored. Brazilians are perfectly ignored.

:42:40. > :42:41.The role played by the women, The role played by the women,

:42:41. > :42:43.The role played by the women, without the women in Brazil there

:42:43. > :42:44.without the women in Brazil there without the women in Brazil there

:42:44. > :42:46.without the women in Brazil there would be no church. The priests are

:42:46. > :42:47.would be no church. The priests are would be no church. The priests are

:42:47. > :42:49.not enough, hardly enough priests. not enough, hardly enough priests.

:42:49. > :42:51.not enough, hardly enough priests. And fewer boys going into the

:42:51. > :42:52.And fewer boys going into the And fewer boys going into the

:42:52. > :42:56.priesthood. So the church, the life priesthood. So the church, the life

:42:56. > :42:56.priesthood. So the church, the life priesthood. So the church, the life

:42:57. > :42:58.of the church in the Brazil in of the church in the Brazil in

:42:58. > :42:59.of the church in the Brazil in particular is led by the women.

:42:59. > :43:00.particular is led by the women. particular is led by the women.

:43:00. > :43:02.They are not celebrate mass, they They are not celebrate mass, they

:43:02. > :43:04.They are not celebrate mass, they are not allowed to distribute the

:43:04. > :43:05.are not allowed to distribute the are not allowed to distribute the

:43:05. > :43:08.sacrament. It is supremely sad. sacrament. It is supremely sad.

:43:08. > :43:09.sacrament. It is supremely sad. wondering if we are decribing two

:43:09. > :43:10.wondering if we are decribing two very different job descriptions

:43:10. > :43:11.very different job descriptions very different job descriptions

:43:11. > :43:12.very different job descriptions really, in a way. In other words

:43:12. > :43:12.really, in a way. In other words really, in a way. In other words

:43:12. > :43:14.really, in a way. In other words you might want for the kind of

:43:14. > :43:14.you might want for the kind of you might want for the kind of

:43:14. > :43:16.things you have suggested within things you have suggested within

:43:16. > :43:18.things you have suggested within the Vatican to be a particular

:43:18. > :43:19.the Vatican to be a particular the Vatican to be a particular

:43:20. > :43:21.person, perhaps an inTateian who person, perhaps an inTateian who

:43:21. > :43:22.person, perhaps an inTateian who person, perhaps an inTateian who

:43:22. > :43:23.knows how it work, -- an Italian, knows how it work, -- an Italian,

:43:23. > :43:24.knows how it work, -- an Italian, knows how it work, -- an Italian,

:43:24. > :43:25.who knows how it works and doesn't who knows how it works and doesn't

:43:25. > :43:26.who knows how it works and doesn't who knows how it works and doesn't

:43:26. > :43:28.have to spend a year figuring out. have to spend a year figuring out.

:43:28. > :43:29.have to spend a year figuring out. have to spend a year figuring out.

:43:29. > :43:30.Or someone who is a Pastor out Or someone who is a Pastor out

:43:30. > :43:31.there who understands the there who understands the

:43:31. > :43:32.there who understands the difficulty in Brazil and other

:43:32. > :43:33.difficulty in Brazil and other difficulty in Brazil and other

:43:33. > :43:34.countries. We might be talking countries. We might be talking

:43:34. > :43:35.countries. We might be talking about two different roles?

:43:35. > :43:36.about two different roles? about two different roles?

:43:36. > :43:38.papacy is an impossible job. The papacy is an impossible job. The

:43:38. > :43:41.papacy is an impossible job. The Catholic Channel Tunnel is the

:43:42. > :43:44.Catholic Channel Tunnel is the world's largest corporation. 1.2

:43:44. > :43:46.world's largest corporation. 1.2 world's largest corporation. 1.2

:43:46. > :43:47.billion people, in unimagine blie billion people, in unimagine blie

:43:47. > :43:49.different circumstances. -- unimagineably different

:43:49. > :43:50.unimagineably different unimagineably different

:43:50. > :43:53.circumstances. People in a growing circumstances. People in a growing

:43:53. > :43:55.circumstances. People in a growing church in China, but experiencing

:43:55. > :43:56.church in China, but experiencing active persecution when confronted

:43:56. > :43:57.active persecution when confronted with a totalitarian Government.

:43:57. > :43:59.with a totalitarian Government. with a totalitarian Government.

:43:59. > :44:00.People in the west, particularly in People in the west, particularly in

:44:00. > :44:02.People in the west, particularly in western Europe, where the church is

:44:02. > :44:03.western Europe, where the church is western Europe, where the church is

:44:03. > :44:07.western Europe, where the church is in a sad time of decline, and

:44:07. > :44:08.in a sad time of decline, and in a sad time of decline, and

:44:09. > :44:09.demoralised. So, whoever comes in demoralised. So, whoever comes in

:44:09. > :44:13.demoralised. So, whoever comes in demoralised. So, whoever comes in

:44:13. > :44:14.is not going to be able to address is not going to be able to address

:44:14. > :44:15.is not going to be able to address equally all those problems. One of

:44:15. > :44:16.equally all those problems. One of equally all those problems. One of

:44:16. > :44:17.the problems with the Catholic the problems with the Catholic

:44:17. > :44:19.the problems with the Catholic Church is it is an absolute

:44:19. > :44:20.Church is it is an absolute Church is it is an absolute

:44:20. > :44:23.monarchy. All these problems end up monarchy. All these problems end up

:44:23. > :44:23.monarchy. All these problems end up monarchy. All these problems end up

:44:23. > :44:24.on the desk of a human being, who on the desk of a human being, who

:44:24. > :44:26.on the desk of a human being, who however magnificent he might be,

:44:26. > :44:28.however magnificent he might be, however magnificent he might be,

:44:28. > :44:28.however magnificent he might be, will not be adequate to the task.

:44:28. > :44:30.will not be adequate to the task. will not be adequate to the task.

:44:30. > :44:30.will not be adequate to the task. That could be a problem for you,

:44:31. > :44:33.That could be a problem for you, That could be a problem for you,

:44:33. > :44:37.couldn't it. Because there is great couldn't it. Because there is great

:44:37. > :44:40.competition among other churches, competition among other churches,

:44:40. > :44:40.evangelical churches, Protestant evangelical churches, Protestant

:44:40. > :44:42.evangelical churches in Brazil. evangelical churches in Brazil.

:44:42. > :44:44.evangelical churches in Brazil. That was a great problem before

:44:44. > :44:46.That was a great problem before That was a great problem before

:44:46. > :44:47.sorting out politics? The people sorting out politics? The people

:44:47. > :44:48.sorting out politics? The people are resentful, and the resentment

:44:48. > :44:51.are resentful, and the resentment are resentful, and the resentment

:44:51. > :44:52.are resentful, and the resentment is shown in the way they are

:44:52. > :44:54.is shown in the way they are joining the Protestant

:44:54. > :44:56.joining the Protestant organisations, in millions now.

:44:56. > :44:58.organisations, in millions now. organisations, in millions now.

:44:58. > :45:04.That challenge is obviously huge, That challenge is obviously huge,

:45:04. > :45:05.That challenge is obviously huge, and people will also wonder what

:45:05. > :45:06.and people will also wonder what and people will also wonder what

:45:06. > :45:07.and people will also wonder what they believe to be the chilt church

:45:07. > :45:08.they believe to be the chilt church they believe to be the chilt church

:45:08. > :45:10.and how Machiavellian this will be. and how Machiavellian this will be.

:45:10. > :45:10.and how Machiavellian this will be. and how Machiavellian this will be.

:45:10. > :45:13.Is it a huge horse trading deal, Is it a huge horse trading deal,

:45:13. > :45:14.Is it a huge horse trading deal, how does the conclave actually

:45:14. > :45:16.how does the conclave actually how does the conclave actually

:45:16. > :45:18.work? I think the most important work? I think the most important

:45:18. > :45:18.work? I think the most important work? I think the most important

:45:18. > :45:21.part of the conclave will be this part of the conclave will be this

:45:21. > :45:23.part of the conclave will be this period before the conclave. There

:45:23. > :45:24.period before the conclave. There period before the conclave. There

:45:24. > :45:25.period before the conclave. There are 115 electors, and many of them

:45:26. > :45:27.are 115 electors, and many of them are 115 electors, and many of them

:45:27. > :45:29.are 115 electors, and many of them don't know each other. There are a

:45:29. > :45:30.don't know each other. There are a don't know each other. There are a

:45:30. > :45:32.few well-known Cardinals, and the few well-known Cardinals, and the

:45:32. > :45:33.few well-known Cardinals, and the press supplies a few more names.

:45:33. > :45:34.press supplies a few more names. press supplies a few more names.

:45:34. > :45:35.press supplies a few more names. What will be crucial in the next

:45:36. > :45:36.What will be crucial in the next What will be crucial in the next

:45:36. > :45:37.What will be crucial in the next week or two week, are the meetings

:45:38. > :45:38.week or two week, are the meetings week or two week, are the meetings

:45:38. > :45:40.week or two week, are the meetings that will be arranged in Rome, the

:45:40. > :45:42.that will be arranged in Rome, the that will be arranged in Rome, the

:45:42. > :45:44.networking that will go on. The networking that will go on. The

:45:44. > :45:46.networking that will go on. The steps that people take to inform

:45:46. > :45:48.steps that people take to inform steps that people take to inform

:45:48. > :45:52.steps that people take to inform each other, and to get a sense of

:45:52. > :45:52.each other, and to get a sense of each other, and to get a sense of

:45:52. > :45:53.who might offer some leadership. who might offer some leadership.

:45:54. > :45:58.who might offer some leadership. Are there people going around

:45:58. > :45:59.Are there people going around Are there people going around

:45:59. > :46:00.looking for vote? I think nobody looking for vote? I think nobody

:46:00. > :46:07.looking for vote? I think nobody does anything quite so brazen as

:46:07. > :46:08.does anything quite so brazen as does anything quite so brazen as

:46:08. > :46:09.does anything quite so brazen as that. There was a bit of the

:46:09. > :46:12.that. There was a bit of the that. There was a bit of the

:46:12. > :46:13.roughling in the undergrowth last roughling in the undergrowth last

:46:13. > :46:14.roughling in the undergrowth last week, when the Ghanaian Cardinal,

:46:14. > :46:14.week, when the Ghanaian Cardinal, week, when the Ghanaian Cardinal,

:46:14. > :46:15.Peter Kodwo Appiah Turkson, said it Peter Kodwo Appiah Turkson, said it

:46:15. > :46:16.Peter Kodwo Appiah Turkson, said it Peter Kodwo Appiah Turkson, said it

:46:16. > :46:17.was time there was a Third World was time there was a Third World

:46:17. > :46:19.was time there was a Third World was time there was a Third World

:46:19. > :46:20.Pope. And he was very ready to Pope. And he was very ready to

:46:20. > :46:23.Pope. And he was very ready to serve. He's actually a rather

:46:23. > :46:23.serve. He's actually a rather serve. He's actually a rather

:46:23. > :46:24.attractive character in many ways, attractive character in many ways,

:46:24. > :46:25.attractive character in many ways, attractive character in many ways,

:46:25. > :46:27.but I think he cooked had his own but I think he cooked had his own

:46:27. > :46:27.but I think he cooked had his own but I think he cooked had his own

:46:27. > :46:29.goose with that remark. It has to goose with that remark. It has to

:46:29. > :46:30.goose with that remark. It has to be done more subtley. For example,

:46:30. > :46:32.be done more subtley. For example, be done more subtley. For example,

:46:32. > :46:34.be done more subtley. For example, I think there probably is quite an

:46:34. > :46:35.I think there probably is quite an I think there probably is quite an

:46:35. > :46:37.organised lobby on behalf of one organised lobby on behalf of one

:46:37. > :46:38.organised lobby on behalf of one the Italian Cardinals. The Italians

:46:38. > :46:41.the Italian Cardinals. The Italians the Italian Cardinals. The Italians

:46:41. > :46:42.would like the papacy back. They would like the papacy back. They

:46:42. > :46:43.would like the papacy back. They would like the papacy back. They

:46:43. > :46:44.are the largest single block in the are the largest single block in the

:46:44. > :46:45.are the largest single block in the are the largest single block in the

:46:45. > :46:46.conclave. We have to leave it there. conclave. We have to leave it there.

:46:46. > :46:47.conclave. We have to leave it there. conclave. We have to leave it there.

:46:47. > :46:57.We have run out of time on. That We have run out of time on. That

:46:57. > :47:25.

:47:25. > :47:35.That's all tonight, Stephaine will That's all tonight, Stephaine will

:47:35. > :47:59.

:47:59. > :48:00.Good evening, grey will be the Good evening, grey will be the

:48:00. > :48:02.Good evening, grey will be the predominant colour through the rest

:48:02. > :48:03.predominant colour through the rest predominant colour through the rest

:48:03. > :48:04.of the week. Cloud overnight of the week. Cloud overnight

:48:04. > :48:05.of the week. Cloud overnight tonight means it won't be quite

:48:05. > :48:06.tonight means it won't be quite tonight means it won't be quite

:48:06. > :48:07.tonight means it won't be quite such a chilly start to the day. A

:48:07. > :48:08.such a chilly start to the day. A such a chilly start to the day. A

:48:08. > :48:09.pretty grey one across central and pretty grey one across central and

:48:09. > :48:11.pretty grey one across central and southern parts of England and Wales.

:48:11. > :48:11.southern parts of England and Wales. southern parts of England and Wales.

:48:11. > :48:13.Best chance of some brightness Best chance of some brightness

:48:13. > :48:14.coming through across northern coming through across northern

:48:14. > :48:15.coming through across northern areas. The sunshine not as

:48:15. > :48:17.areas. The sunshine not as areas. The sunshine not as

:48:17. > :48:18.extensive as it was today. Northern extensive as it was today. Northern

:48:18. > :48:20.extensive as it was today. Northern England and the northern Midland

:48:20. > :48:23.England and the northern Midland England and the northern Midland

:48:23. > :48:24.faring reasonably well. The chilly faring reasonably well. The chilly

:48:24. > :48:25.faring reasonably well. The chilly wind across southern England. It

:48:25. > :48:27.wind across southern England. It wind across southern England. It

:48:27. > :48:28.wind across southern England. It won't be a pleasant feel to the day.

:48:28. > :48:30.won't be a pleasant feel to the day. South-west England again looking

:48:30. > :48:31.South-west England again looking South-west England again looking

:48:31. > :48:32.particularly grey, along with South particularly grey, along with South

:48:32. > :48:33.particularly grey, along with South Wales too. Northern parts of Wales

:48:33. > :48:34.Wales too. Northern parts of Wales Wales too. Northern parts of Wales

:48:34. > :48:36.and through the Midlands, a few and through the Midlands, a few

:48:36. > :48:39.sunny intervals breaking through sunny intervals breaking through

:48:39. > :48:41.for the afternoon. Temperatures for the afternoon. Temperatures

:48:41. > :48:42.for the afternoon. Temperatures again seven, eight, nine degrees,

:48:42. > :48:44.again seven, eight, nine degrees, similar across Northern Ireland,

:48:44. > :48:45.similar across Northern Ireland, similar across Northern Ireland,

:48:45. > :48:46.best place to enjoy sunshine. North best place to enjoy sunshine. North

:48:47. > :48:48.best place to enjoy sunshine. North West Scotland definitely in the

:48:48. > :48:49.West Scotland definitely in the West Scotland definitely in the

:48:49. > :48:50.cloudy zone once again. Across cloudy zone once again. Across

:48:50. > :48:51.cloudy zone once again. Across central and eastern parts of

:48:51. > :48:52.central and eastern parts of central and eastern parts of

:48:52. > :48:52.Scotland, the sun should come Scotland, the sun should come

:48:52. > :48:53.Scotland, the sun should come Scotland, the sun should come

:48:53. > :48:54.through for the second half of the through for the second half of the

:48:54. > :48:55.through for the second half of the through for the second half of the

:48:55. > :48:58.day. This is how it looks through day. This is how it looks through

:48:58. > :49:00.day. This is how it looks through Friday and on wards into Saturday.

:49:00. > :49:01.Friday and on wards into Saturday. Cloud predominates in temperatures

:49:01. > :49:03.Cloud predominates in temperatures Cloud predominates in temperatures

:49:03. > :49:04.not shifting very much. A very not shifting very much. A very

:49:04. > :49:05.not shifting very much. A very quiet settled theme set to continue

:49:05. > :49:06.quiet settled theme set to continue quiet settled theme set to continue

:49:06. > :49:07.everywhere, right into the weekend. everywhere, right into the weekend.

:49:07. > :49:08.everywhere, right into the weekend. everywhere, right into the weekend.

:49:08. > :49:09.If you get sunshine it will be a If you get sunshine it will be a

:49:09. > :49:11.If you get sunshine it will be a bonus. No sign of any higher

:49:11. > :49:13.temperatures. temperatures.

:49:13. > :49:14.temperatures. temperatures.

:49:14. > :49:15.Eight degrees at best for most. A Eight degrees at best for most. A