Browse content similar to 02/11/2017. Check below for episodes and series from the same categories and more!
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It's been 10 years,
three months and 27 days | 0:00:07 | 0:00:09 | |
of cheaper and cheaper money. | 0:00:09 | 0:00:10 | |
But today, it just
got a little dearer. | 0:00:10 | 0:00:14 | |
The Bank of England hikes
interest rates by 0.25%, | 0:00:14 | 0:00:17 | |
but who's that going to help? | 0:00:17 | 0:00:19 | |
We ask whether the Bank has
got its timing right. | 0:00:19 | 0:00:22 | |
Also tonight, a breaking story
of fresh allegations of sexual | 0:00:22 | 0:00:25 | |
harrassment by another Member
of Parliament emerges. | 0:00:25 | 0:00:29 | |
On the day the PM was forced
to replace a Cabinet minister, | 0:00:29 | 0:00:32 | |
could this herald a crisis
for both her and the leader | 0:00:32 | 0:00:34 | |
of the Opposition? | 0:00:34 | 0:00:37 | |
And we speak Goldie -
from breakdancer to DJ, | 0:00:37 | 0:00:39 | |
grafitti and grills,
a more mellow Goldie | 0:00:39 | 0:00:42 | |
tells his life story. | 0:00:42 | 0:00:49 | |
Goldie fights with 19-year-old on
the way to yoga. Goldie dies in | 0:00:49 | 0:00:53 | |
knife fight on the way to yoga.
Either way that's not going to look | 0:00:53 | 0:00:59 | |
right! | 0:00:59 | 0:01:02 | |
First tonight, the breaking
political story. | 0:01:02 | 0:01:05 | |
The Labour MP, Kelvin Hopkins,
has been suspended from the party | 0:01:05 | 0:01:09 | |
after it received allegations
of inappropriate behaviour | 0:01:09 | 0:01:10 | |
towards a young woman. | 0:01:10 | 0:01:13 | |
The Labour Party is remaining
relatively tight-lipped about it. | 0:01:13 | 0:01:16 | |
Our political editor,
Nick Watt is here. | 0:01:16 | 0:01:18 | |
Nick, what can you tell us? | 0:01:18 | 0:01:25 | |
Kelvin Hopkins, a 76-year-old former
shadow minister has been suspended | 0:01:25 | 0:01:27 | |
from the Labour Party and that means
the whip is suspended from him after | 0:01:27 | 0:01:31 | |
an incident that took place in 2014
with a young Labour activist and he | 0:01:31 | 0:01:41 | |
was addressing the Labour society at
Essex University and it is alleged | 0:01:41 | 0:01:45 | |
that he sent a text after saying, if
only I was 40 years younger and this | 0:01:45 | 0:01:52 | |
why he has been suspended, he then
allegedly rubbed himself against | 0:01:52 | 0:01:58 | |
her. By the event in the Daily
Telegraph the woman reported it to | 0:01:58 | 0:02:05 | |
the whip's office twice before he
was made a Shadow Cabinet minister. | 0:02:05 | 0:02:09 | |
So if that is to be believed, then
the whips knew about this. Also Eva | 0:02:09 | 0:02:16 | |
reported it in December 2015 in June
Hopkins was appointed to the Shadow | 0:02:16 | 0:02:26 | |
Cabinet. But he had been reprimanded
by the office and the leader knew. | 0:02:26 | 0:02:34 | |
The report to the leader's office
was yes, he has been reprimanded, | 0:02:34 | 0:02:38 | |
but the matter had been settled and
the only information they knew at | 0:02:38 | 0:02:42 | |
that stage was that he sent this
text saying if only I was 40 years | 0:02:42 | 0:02:50 | |
younger. It was only today that the
further information came that he | 0:02:50 | 0:02:56 | |
sent a text saying he wanted to meet
outside the formal Essex University | 0:02:56 | 0:03:03 | |
event and crucially only today that
the information came through of this | 0:03:03 | 0:03:08 | |
very serious sexual harassment, a
sexual assault, that he had rubbed | 0:03:08 | 0:03:13 | |
himself against her and that is why
the Labour acted immediately. It is | 0:03:13 | 0:03:18 | |
only after that Daily Telegraph
produced that story that we have had | 0:03:18 | 0:03:22 | |
that response from the Labour Party.
So they're having to be made to | 0:03:22 | 0:03:26 | |
react rather than being proactive.
In the Sun there is more on Michael | 0:03:26 | 0:03:33 | |
Fallon that may give a clue to his
demise. We have a story about his | 0:03:33 | 0:03:37 | |
behaviour. This is reporting and
this may well explain why he | 0:03:37 | 0:03:43 | |
resigned so quickly, that he is
alleged to have told Andrea | 0:03:43 | 0:03:53 | |
leadsome, his cabinet colleague, who
complained of cold hands, he said, I | 0:03:53 | 0:03:58 | |
know a warm place to put them. That
is deeply inappropriate and that may | 0:03:58 | 0:04:03 | |
well explain why he resigned so
quickly. But there are allegations | 0:04:03 | 0:04:10 | |
that there are serial examples of
wholly inappropriate behaviour by | 0:04:10 | 0:04:16 | |
Sir Michael Fallon. Those
allegations would have gone to the | 0:04:16 | 0:04:21 | |
Chief Whip's office, the Chief Whip
is no I the Defence Secretary. You | 0:04:21 | 0:04:25 | |
can look at two ways, he is a close
ally of Theresa May, or she didn't | 0:04:25 | 0:04:32 | |
act with Elan to produce a woman for
that office. She likes to promote | 0:04:32 | 0:04:37 | |
people she trusts. But there is fury
that Gavin Williamson has been made | 0:04:37 | 0:04:42 | |
Defence Secretary, because he was
involved in the conversation with | 0:04:42 | 0:04:46 | |
Michael Fallon, saying, is there
anything more. The answer meant he | 0:04:46 | 0:04:50 | |
resigned from the cabinet. Now
Downing Street are saying that Gavin | 0:04:50 | 0:04:54 | |
Williamson wasn't then involved in
the next level of conversation, | 0:04:54 | 0:04:56 | |
which is who should be our new
Defence Secretary. But that is not | 0:04:56 | 0:05:00 | |
how it has been seen. I have been in
touch with somebody who worked close | 0:05:00 | 0:05:06 | |
with Theresa May in the past and
said many say this is the biggest | 0:05:06 | 0:05:12 | |
and probably last mistake, that
Gavin Williamson and his deputy | 0:05:12 | 0:05:18 | |
Julia Smith are seen as parasites
feeding off her weakness and using | 0:05:18 | 0:05:24 | |
it to advance themselves. I have
been looking at these issues and you | 0:05:24 | 0:05:28 | |
see how angry Theresa May is, she is
has been campaigning to change the | 0:05:28 | 0:05:32 | |
culture at Westminster and now this
is really sort of posing a challenge | 0:05:32 | 0:05:38 | |
to her premiership. The dark clouds
of an unlucky premiership are | 0:05:38 | 0:05:46 | |
hovering over Theresa May. There is
the feel of a Prime Minister | 0:05:46 | 0:05:51 | |
struggling at times to control
events. The Prime Minister has lost | 0:05:51 | 0:05:56 | |
her Defence Secretary after he
admitted that his behaviour had | 0:05:56 | 0:06:00 | |
fallen short of the high standards
expect of the armed forces. Theresa | 0:06:00 | 0:06:06 | |
May has campaigned for decades to
change the habits of male-Dom named | 0:06:06 | 0:06:14 | |
world of -- male-dominated world of
Westminster. Domestic violence is | 0:06:14 | 0:06:19 | |
appalling. Many women were made to
feel like they were making mountains | 0:06:19 | 0:06:24 | |
out of mole hills. In a cruel twist
the unravelling of this culture is | 0:06:24 | 0:06:31 | |
now challenging her leadership. It
is like a Greek tragedy what Theresa | 0:06:31 | 0:06:36 | |
May's legacy will be. Nobody doubts
that Theresa May hates this culture | 0:06:36 | 0:06:41 | |
that she is having to wrangle with.
Nobody would deny that. But the fact | 0:06:41 | 0:06:46 | |
of the matter is she is too weak
amongst her own people to be able to | 0:06:46 | 0:06:53 | |
dole out the punishments I'm certain
she would wants to. Traichl Theresa | 0:06:53 | 0:07:00 | |
May is so week she embarked on a
minimal reshuffle. But it left a | 0:07:00 | 0:07:06 | |
sour taste and one said it has the
intrigue of the house of cards with | 0:07:06 | 0:07:14 | |
the surreal element of the Rick
Mayall commend. Comedy. | 0:07:14 | 0:07:28 | |
Other Tories dismiss the febrile
atmosphere at Westminster and say it | 0:07:31 | 0:07:34 | |
is wrong to suggest that the Prime
Minister is being weakened by the | 0:07:34 | 0:07:39 | |
unmasking of a culture she has
campaigned to reform. I'm astonished | 0:07:39 | 0:07:43 | |
by this sort of narrative. She, it
has been something she has been | 0:07:43 | 0:07:48 | |
passionate about, all the equality
issues, gender issues when people in | 0:07:48 | 0:07:53 | |
the Conservative Party didn't talk
about it, didn't care, and I am, I | 0:07:53 | 0:07:59 | |
don't, I'm mystified by how somebody
with such integrity has the | 0:07:59 | 0:08:09 | |
narrative has built up that it is
her fault. But some of goes back | 0:08:09 | 0:08:12 | |
many years and will be very hard to
prove. We have got to investigate | 0:08:12 | 0:08:17 | |
the serious stuff and I'm sure she
would be the first to say this and | 0:08:17 | 0:08:21 | |
then draw a line, move on and sort
the stuff out. The Prime Minister | 0:08:21 | 0:08:25 | |
has led the way on this. She was
clear about it on Monday. In the | 0:08:25 | 0:08:30 | |
statement she was clear at Prime
Minister's question and she has made | 0:08:30 | 0:08:35 | |
it clear to the cabinet and said if
you believe you don't meet the | 0:08:35 | 0:08:40 | |
standard that is to be tolerated,
then you have to think about your | 0:08:40 | 0:08:44 | |
position. And to that extents,
Michael Fallon realised he would not | 0:08:44 | 0:08:50 | |
cross the bar she had set. That is
down to her leadership and saying, | 0:08:50 | 0:08:55 | |
we have to take this seriously and
lead. It is not just about the | 0:08:55 | 0:09:02 | |
Conservative Party, but the Labour
Party they have something facing | 0:09:02 | 0:09:06 | |
potential rape charges which is very
serious. Theresa May is going on, | 0:09:06 | 0:09:12 | |
but after her inner circle was wiped
out in the general election, she | 0:09:12 | 0:09:17 | |
will hope events don't conspire to
make her an even more ice lapted | 0:09:17 | 0:09:23 | |
figure. -- isolated figure. | 0:09:23 | 0:09:31 | |
Our Political Editor Nick Watt. | 0:09:31 | 0:09:32 | |
Well now to chew over
the latest allegations | 0:09:32 | 0:09:34 | |
from Westminster I'm joined
by the LBC Presenter Iain Dale | 0:09:34 | 0:09:37 | |
and the former aide
to the Deputy Prime Minister, | 0:09:37 | 0:09:39 | |
Polly Mackenzie. | 0:09:39 | 0:09:44 | |
We heard Jess Philips saying it is a
Greek tragedy. Wech is falling to | 0:09:44 | 0:09:50 | |
bits. We have been here in the 90s
with back to basics with a weak | 0:09:50 | 0:09:55 | |
Prime Minister and day after day
revelations about affairs and all | 0:09:55 | 0:09:59 | |
sorts of things in Parliament.
Everyone thought everybody in | 0:09:59 | 0:10:02 | |
Parliament was having an affair.
This is slightly different, sexual | 0:10:02 | 0:10:08 | |
what racksment. Harassment. This is
a plague on all their houses. No one | 0:10:08 | 0:10:16 | |
has escaped. No party escapes, it is
in the Lord's and the Commons and | 0:10:16 | 0:10:22 | |
Theresa May has missed a an
opportunity to put a new broom | 0:10:22 | 0:10:27 | |
behind cleaning this out. Now the
Gavan Williamson, it is because she | 0:10:27 | 0:10:35 | |
is weak that Theresa May can't move
to make a bolder move. But she wants | 0:10:35 | 0:10:41 | |
to keep Gavin Williamson close. It
is a bold move to put somebody from | 0:10:41 | 0:10:47 | |
out side the cabinet there. Is it a
sign of weakness. She is not weaker | 0:10:47 | 0:10:53 | |
than she was yesterday. Which was
weak. She is not in a great | 0:10:53 | 0:10:58 | |
position. Gordon Brown put Jacqui
Smith to Home Secretary, Margaret | 0:10:58 | 0:11:06 | |
Thatcher did it with Cecil
Parkinson. But not in this crisis. | 0:11:06 | 0:11:14 | |
The whip's office have been part of
problem, they covered up the | 0:11:14 | 0:11:18 | |
problem. Where did this spread sheet
come from. Gavin Williamson as | 0:11:18 | 0:11:26 | |
Defence Secretary may well know
about other examples of, we just | 0:11:26 | 0:11:31 | |
don't know, of other bad behaviour
that will come back to bite the | 0:11:31 | 0:11:35 | |
cabinet. I think the reshuffle is a
separate issue. What this story and | 0:11:35 | 0:11:40 | |
it is across all parties, I don't
think anyone should try to gain | 0:11:40 | 0:11:46 | |
political capital, the complaints
system does not work. People take to | 0:11:46 | 0:11:50 | |
it the whips and it doesn't get
used. The whips office this to | 0:11:50 | 0:12:01 | |
control MPs. What people are shocked
to know is that actually there has | 0:12:01 | 0:12:06 | |
been a real culture of sexual
misbehaviour and it is not about | 0:12:06 | 0:12:12 | |
sex, but about power. Yes,
Westminster is still male-dominated, | 0:12:12 | 0:12:18 | |
it is older men in senior position,
junior women and men... They felt | 0:12:18 | 0:12:27 | |
uncomfortable and the men saying, I
had no idea. It is not only talking | 0:12:27 | 0:12:32 | |
of Theresa May and you can juxtapose
with what Theresa May has done with | 0:12:32 | 0:12:41 | |
what Ruth Davidson said about
cleaning the stable. Here we have a | 0:12:41 | 0:12:48 | |
situation where Jeremy Corbyn's own
office of whips is also possibly | 0:12:48 | 0:12:55 | |
compromised. It shows you that the
system doesn't work and I have | 0:12:55 | 0:13:00 | |
spoken with people in the whips
office, around Parliament still, the | 0:13:00 | 0:13:05 | |
issue here and there has to be a
full inquiry. What I would like the | 0:13:05 | 0:13:11 | |
Labour Party to do is to appoint
somebody independent to come in and | 0:13:11 | 0:13:15 | |
look at the situation. Let's look at
the leadership on this. We don't | 0:13:15 | 0:13:20 | |
know what is going on behind the
scenes, but I do not know that | 0:13:20 | 0:13:25 | |
Jeremy Corbyn has been out being
condemning people in the last | 0:13:25 | 0:13:29 | |
48-hours. I couldn't agree more.
There are two problems. One is | 0:13:29 | 0:13:34 | |
sexual abuse by a small number of
people and a wider culture of | 0:13:34 | 0:13:37 | |
secrecy and cover ups. I would like
to see everybody who has made a | 0:13:37 | 0:13:45 | |
complaint make a subject request to
find out what records they have been | 0:13:45 | 0:13:49 | |
keeping. They say they don't know.
How do you have these complaints | 0:13:49 | 0:13:55 | |
against Kelvin Hopkins and then the
same, how could there be such a | 0:13:55 | 0:14:00 | |
position where the woman who makes
the complaints watches him walk into | 0:14:00 | 0:14:07 | |
the Shadow Cabinet. He is an MP and
she is not. The issue is curl churl | 0:14:07 | 0:14:11 | |
of the -- cultural. It is women not
coming forward and young men, they | 0:14:11 | 0:14:17 | |
don't want their names splashed
across the newspaper. There is no | 0:14:17 | 0:14:21 | |
confidential way to report this and
it is the power thing. A lot of | 0:14:21 | 0:14:25 | |
people are scared. Power does not
create Monday stores, power -- | 0:14:25 | 0:14:33 | |
monsters, it reveals monsters. That
was said in house of cards. The | 0:14:33 | 0:14:36 | |
problem is the whips, because the
job of the whips is to get | 0:14:36 | 0:14:40 | |
legislation through the House of
Commons or stop it going through. | 0:14:40 | 0:14:46 | |
Anything else is of secondary
importance. There was a story | 0:14:46 | 0:14:52 | |
condemning the 1922 committee for
blocking David Cameron's attempts to | 0:14:52 | 0:14:57 | |
give the whips power to sort this
out, because they knew they would | 0:14:57 | 0:15:01 | |
cover it up. | 0:15:01 | 0:15:08 | |
The problem is a male MP's being
sleazy and abusing power. Everyone | 0:15:08 | 0:15:13 | |
thinking it's more useful to keep
those things in a draw and use them | 0:15:13 | 0:15:17 | |
as blackmail rather than sorting
things out. Going back to the | 0:15:17 | 0:15:22 | |
appointment of the new Defence
Secretary, what would have been the | 0:15:22 | 0:15:25 | |
ball thing that Theresa May could
have done without the appointment? | 0:15:25 | 0:15:29 | |
She should have an appointed and a
woman, the first female... Why | 0:15:29 | 0:15:35 | |
should she have done that? Just as a
statement? Because an opportunity | 0:15:35 | 0:15:40 | |
was there to put a woman into a job
that men have historically done, an | 0:15:40 | 0:15:45 | |
opportunity to say that she is
bringing a new broom to appointments | 0:15:45 | 0:15:48 | |
and dealing with sexual harassment
by putting in somebody who doesn't | 0:15:48 | 0:15:52 | |
have a history of doing it. And
Milton would have been a popular | 0:15:52 | 0:15:56 | |
choice to be Chief Whip, she is
experienced, people say she has had | 0:15:56 | 0:16:02 | |
good experience of the grievance
procedure as well so she might have | 0:16:02 | 0:16:06 | |
signalled a fresh start. Estimate he
is deputy Chief Whip... Theresa | 0:16:06 | 0:16:13 | |
May.... When I saw her go into
Downing Street eyes and dues either | 0:16:13 | 0:16:21 | |
going to be Chief Whip or the new
chairman of the Conservative Party, | 0:16:21 | 0:16:26 | |
why Theresa May did not take the
opportunity to have a new party | 0:16:26 | 0:16:29 | |
chairman I do not know because
everyone knows Patrick McLoughlin | 0:16:29 | 0:16:32 | |
wants to step down. How damaging is
it to the whole prosecution of | 0:16:32 | 0:16:37 | |
politics in this country that we are
having a slow drip of even more | 0:16:37 | 0:16:42 | |
egregious and there are other
things, the other night, John Mann | 0:16:42 | 0:16:46 | |
said a Newsnight he knew of a rape
at when spinster -- at Westminster, | 0:16:46 | 0:16:51 | |
but he did not name names, but he
would not be saying that unless he | 0:16:51 | 0:16:55 | |
had a pretty good idea. So we know
more is to come and how damaging is | 0:16:55 | 0:17:00 | |
that to the standing of politicians
who are standing is already damaged | 0:17:00 | 0:17:04 | |
thanks to the expensive -- expenses
scandal and so forth? All of my | 0:17:04 | 0:17:12 | |
friends say to me you must be so
relieved you never got into | 0:17:12 | 0:17:15 | |
Parliament, when I told my mother I
was not standing again she cheered. | 0:17:15 | 0:17:20 | |
What a terrible thing, she ought to
want her son to go into Parliament. | 0:17:20 | 0:17:24 | |
I am glad I never became an MP. Do
you still want to go into | 0:17:24 | 0:17:30 | |
Parliament? Not particularly, not
right now, but I don't think this is | 0:17:30 | 0:17:33 | |
the issue. About hope politicians
feel about their reputation. This is | 0:17:33 | 0:17:39 | |
about victims. Watching us
squabbling about who is up and who's | 0:17:39 | 0:17:43 | |
down in the reshuffle is not the
issue. The issue is people of all | 0:17:43 | 0:17:47 | |
parties who feel they have been
treated badly need to feel that they | 0:17:47 | 0:17:50 | |
can come forward and talk about this
and be believed and not victimised | 0:17:50 | 0:17:57 | |
or which handed. Thank you all very
much indeed. | 0:17:57 | 0:18:01 | |
It hasn't happened in more
than a decade, but there are no | 0:18:01 | 0:18:03 | |
fanfares or fireworks. | 0:18:03 | 0:18:04 | |
The Bank of England raised
interest rates today - | 0:18:04 | 0:18:06 | |
signalling a change
in the economic weather. | 0:18:06 | 0:18:08 | |
Is this a big moment, or time
for a bit of shoulder shrugging? | 0:18:08 | 0:18:13 | |
Why has the Monetary
Committee done it? | 0:18:13 | 0:18:15 | |
Is it because things getting
out of hand and we need | 0:18:15 | 0:18:18 | |
to tighten up a bit? | 0:18:18 | 0:18:19 | |
Well, consumers are showing
a prodigious appetite for credit, | 0:18:19 | 0:18:21 | |
creating a growing pile
of personal debt. | 0:18:21 | 0:18:23 | |
Money's been very
cheap for a long time. | 0:18:23 | 0:18:25 | |
But are they borrowing
because they're trying | 0:18:25 | 0:18:26 | |
to cope with 3% inflation
and near stagnant wages? | 0:18:26 | 0:18:29 | |
If so, then they're going to get
a shock, because mortgages and other | 0:18:29 | 0:18:32 | |
repayments are going to rise
and inflation is not expected | 0:18:32 | 0:18:34 | |
to fall any time soon. | 0:18:34 | 0:18:35 | |
As for saving, it's unlikely that
a 0.25% interest rate increase | 0:18:35 | 0:18:38 | |
is going to turn us into a nation
of savers - something that seems | 0:18:38 | 0:18:41 | |
part of a dim and distant past. | 0:18:41 | 0:18:43 | |
Our Business Editor, Helen Thomas,
has been trying to make sense | 0:18:43 | 0:18:46 | |
of the Bank of England's move. | 0:18:46 | 0:18:50 | |
Economic predictions or your average
weather forecast? It is hard to see | 0:18:53 | 0:18:59 | |
which engenders less faith. The
first rise in interest rates in over | 0:18:59 | 0:19:05 | |
ten years, it's not done too much to
clear things up. Usually a rate rise | 0:19:05 | 0:19:09 | |
would reflect strength, recovery,
robust growth and confidence. This | 0:19:09 | 0:19:17 | |
time, the economic weather feels a
little different. So why is the bank | 0:19:17 | 0:19:22 | |
acting now? The obvious and Sir is
inflation, at 3% it is well above | 0:19:22 | 0:19:27 | |
the bank 's 2% target. But most
people agree that a temporary | 0:19:27 | 0:19:34 | |
problem, related to a fall in the
pound. It should start to fix | 0:19:34 | 0:19:38 | |
itself. The Bank of England governor
conceded the outlook is unusually | 0:19:38 | 0:19:42 | |
uncertain thanks in part to Brexit
bust up still, he said, it was time | 0:19:42 | 0:19:47 | |
to move. In many respects today's
decision is straight forward. With | 0:19:47 | 0:19:56 | |
the economy growing and rates above
its speed limit inflation is | 0:19:56 | 0:19:59 | |
unlikely to return to the 2% target
without some increase in interest | 0:19:59 | 0:20:03 | |
rates. Once upon a time the Bank of
England's key interest rate moved up | 0:20:03 | 0:20:09 | |
and down with the UK economic
fortunes. Higher interest rates | 0:20:09 | 0:20:13 | |
turned the economic heat down.
Increasing the cost of borrowing and | 0:20:13 | 0:20:18 | |
reducing spending. These are the
last four periods the bank of | 0:20:18 | 0:20:21 | |
England was raising rates, quarterly
economic growth in the year before | 0:20:21 | 0:20:25 | |
the first height averaged 0.4%. Now
quarterly growth has been averaging | 0:20:25 | 0:20:33 | |
about 0.4%. Even more unusual, this
rate hike comes as real wages have | 0:20:33 | 0:20:40 | |
been falling. That is wage growth
adjusted for inflation. I think they | 0:20:40 | 0:20:45 | |
made a mistake. I think at best the
decision to raise rates today was | 0:20:45 | 0:20:49 | |
premature and at worst could be
reckless. The risk is if you raise | 0:20:49 | 0:20:54 | |
rates against the backdrop of
economic weakness it tends to | 0:20:54 | 0:20:57 | |
frighten the horses are little and
what you may see is consumers who | 0:20:57 | 0:21:00 | |
are already running with very high
levels of debt against a backdrop of | 0:21:00 | 0:21:05 | |
pretty tough financial conditions
choose to build their savings of | 0:21:05 | 0:21:09 | |
little bit more than the Bank of
England would like an precipitate | 0:21:09 | 0:21:12 | |
something of a steep slowdown than
we are already seeing. So this | 0:21:12 | 0:21:17 | |
wasn't a normal rate hike but as
Mark Carney said we do not live in | 0:21:17 | 0:21:20 | |
normal times. A decade of interest
at virtually zero is certainly | 0:21:20 | 0:21:26 | |
extraordinary and for some the
central bank had to at least start | 0:21:26 | 0:21:29 | |
the journey back to more
conventional levels. Ultra low | 0:21:29 | 0:21:33 | |
interest rates have costs as well as
benefits and if you are in a | 0:21:33 | 0:21:37 | |
position where interest rates are
expected to remain near zero for the | 0:21:37 | 0:21:41 | |
foreseeable it creates all sorts of
distortions, misallocation is of | 0:21:41 | 0:21:45 | |
resources and so on. If you can get
interest rates back to mourn over | 0:21:45 | 0:21:48 | |
levels then you have a margin to cut
again if you need to. For example if | 0:21:48 | 0:21:52 | |
the Brexit those Asians go badly the
Bank of England will have more scope | 0:21:52 | 0:21:56 | |
to cut rates in future done if it
did not raise them today at all. -- | 0:21:56 | 0:22:01 | |
of the Brexit negotiations go badly.
This only takes rates backs to where | 0:22:01 | 0:22:06 | |
they were in the summer of 2016,
before the post-referendum cut. | 0:22:06 | 0:22:11 | |
Still it all came with a gloomy
outlook. In the banks view, the | 0:22:11 | 0:22:16 | |
economy has hit its limit, the
economic climate now is about as | 0:22:16 | 0:22:21 | |
good as it's going to get. That's in
part because productivity, a big | 0:22:21 | 0:22:28 | |
determinant of economic potential,
has flat lined since the financial | 0:22:28 | 0:22:32 | |
crisis. The Bank of England are
taking a conservative view about the | 0:22:32 | 0:22:35 | |
UK's potential supply growth, they
have seen growth around one and a | 0:22:35 | 0:22:40 | |
half percent as being the long-term
position. I think what is important, | 0:22:40 | 0:22:45 | |
what businesses want to see is the
right environment to invest and that | 0:22:45 | 0:22:49 | |
we are investing in our skills and
education and infrastructure and I | 0:22:49 | 0:22:52 | |
think that is why actually what the
business media wants is more action | 0:22:52 | 0:22:56 | |
by Philip Hammond than Mark Carney
and all eyes will be on the budget | 0:22:56 | 0:23:03 | |
later this month. It's official,
interest rates are rising again. But | 0:23:03 | 0:23:11 | |
so is the pressure. | 0:23:11 | 0:23:12 | |
Well, what should we
make of today's move? | 0:23:15 | 0:23:17 | |
And is there anything
in the American experience | 0:23:17 | 0:23:18 | |
we should learn from -
where rates have already | 0:23:18 | 0:23:20 | |
been rising for a while? | 0:23:20 | 0:23:22 | |
I'm joined from New York
by Gillian Tett of the Financial | 0:23:22 | 0:23:24 | |
Times and from Florida
by Professor David Blanchflower, | 0:23:24 | 0:23:30 | |
Looking at this side of the pond,
inflation rise and an implement low, | 0:23:32 | 0:23:37 | |
was this the right time to move, are
we heading for more normal times? I | 0:23:37 | 0:23:45 | |
am in the camp of people who think
it was the right time to move and we | 0:23:45 | 0:23:49 | |
have had extraordinarily abnormal
times for the best part of the last | 0:23:49 | 0:23:52 | |
decade. The ultralow interest rates
were introduced initially as an | 0:23:52 | 0:23:56 | |
emergency response after the
financial crisis. That was a long | 0:23:56 | 0:24:02 | |
time ago. I personally think getting
back to a more normal world is | 0:24:02 | 0:24:06 | |
healthy and it is something America
has been doing now for 18 months, | 0:24:06 | 0:24:09 | |
over 18 months. So far the markets
have absorbed it fairly calmly. Are | 0:24:09 | 0:24:17 | |
we now just going to accept in this
country at least that growth is | 0:24:17 | 0:24:21 | |
sluggish, growth is reasonably
sluggish in the States, there is an | 0:24:21 | 0:24:26 | |
acceptance that that indeed is the
norm, that even in that position you | 0:24:26 | 0:24:32 | |
raise interest rates and it looks
like America will raise them next | 0:24:32 | 0:24:34 | |
month even though growth is not that
strong. Essentially what the central | 0:24:34 | 0:24:41 | |
Bank of America is trying to do is
exactly what Mark Carney is trying | 0:24:41 | 0:24:44 | |
to do, it's like the pilot of an
aeroplane trying to lose altitude | 0:24:44 | 0:24:47 | |
very slowly over a long period of
time. They are trying to return | 0:24:47 | 0:24:54 | |
slowly to a more normal world
without anybody noticing. Let's keep | 0:24:54 | 0:24:58 | |
this in perspective, it's not
exactly a dramatic rise. The rate | 0:24:58 | 0:25:03 | |
rise we have seen in the US have not
been dramatic either. But it's a | 0:25:03 | 0:25:08 | |
sign the central bank is moving into
a slightly more normal world and as | 0:25:08 | 0:25:12 | |
Helen says, they are creating a
reserve firepower for themselves to | 0:25:12 | 0:25:16 | |
use if there is another crisis.
Let's talk about that reserve | 0:25:16 | 0:25:20 | |
firepower. We are joined by the
former member of the Bank of England | 0:25:20 | 0:25:28 | |
monetary policy committee David
Blanchflower, is it necessary to | 0:25:28 | 0:25:30 | |
create firepower or will it create
firepower? No. I don't normally | 0:25:30 | 0:25:36 | |
disagree with my friend Gillian, but
I'm afraid this looks to be a big | 0:25:36 | 0:25:41 | |
mistake to me. The way you create
firepower is not to create a | 0:25:41 | 0:25:46 | |
recession yourself. People want to
raise rates so when a recession | 0:25:46 | 0:25:50 | |
comes you can cut rates. This looks
like an enormous mistake. There is | 0:25:50 | 0:25:55 | |
nothing in the data whatsoever to
sustain it. It looks to me like the | 0:25:55 | 0:26:00 | |
rate rise which was done in July
2007 that I actually voted against. | 0:26:00 | 0:26:06 | |
It was returned a few months later
and then we went into recession. I | 0:26:06 | 0:26:10 | |
think this is a huge mistake. The
reality is there is absolutely no | 0:26:10 | 0:26:15 | |
data that says you should do it now.
With the uncertainty over Brexit, | 0:26:15 | 0:26:20 | |
the uncertainty over the fiscal
position of the government this | 0:26:20 | 0:26:23 | |
looks like a big mistake. Not only
do you have sterling on the floor, | 0:26:23 | 0:26:31 | |
the uncertainty of Brexit, in the
states you have a president who says | 0:26:31 | 0:26:34 | |
he's going to cut taxes and simplify
taxes would perhaps leads to more | 0:26:34 | 0:26:39 | |
optimism but you don't necessarily
have that coming out of Philip | 0:26:39 | 0:26:42 | |
Hammond's briefcase. Right. What you
have in the US is talk about the | 0:26:42 | 0:26:49 | |
huge fiscal cut, huge stimulus going
into the economy which is pushing | 0:26:49 | 0:26:55 | |
up, growth is double what it is in
the UK, real wages have risen in the | 0:26:55 | 0:26:59 | |
US over the last for five years and
they are down, be aware of the US is | 0:26:59 | 0:27:04 | |
the slowest growing economy in
Europe, growth is going to slow on | 0:27:04 | 0:27:09 | |
any measure this looks disastrous.
Real wages are down and there would | 0:27:09 | 0:27:13 | |
you are going to do is raise the
cost of borrowing to people not only | 0:27:13 | 0:27:16 | |
to homeowners but firms who are
going to cut their dividends. This | 0:27:16 | 0:27:22 | |
looks like a huge mistake. Gillian,
on the basis of the 0.25% increase | 0:27:22 | 0:27:29 | |
your not going to have consumers
jumping up and down and saying we | 0:27:29 | 0:27:32 | |
are going to save because the debt
mountain is growing so much we will | 0:27:32 | 0:27:37 | |
have an increased tomorrow in
mortgage rates and the APR and | 0:27:37 | 0:27:41 | |
credit card will go sky-high? Kill
mac not exactly sky-high, let's keep | 0:27:41 | 0:27:49 | |
this in perspective. The question I
would put to Daniel is what you make | 0:27:49 | 0:27:54 | |
of things growing sharply in the UK,
does that not concern you? How do | 0:27:54 | 0:27:59 | |
you make sure consumers do not take
a huge amount of credit David | 0:27:59 | 0:28:01 | |
Blanchflower? You can deal with
that, the FPC can deal with, the | 0:28:01 | 0:28:11 | |
likelihood is retail sales are
falling, they are about to plummet | 0:28:11 | 0:28:14 | |
as people realise they should not
have been saving so that will fix | 0:28:14 | 0:28:17 | |
it. We have already seen that. This
will make it much worse, it will | 0:28:17 | 0:28:23 | |
lower output. That seems a really
crazy way, you will force yourself | 0:28:23 | 0:28:27 | |
into a recession. Yes it's a small
mistake but it's better than making | 0:28:27 | 0:28:31 | |
a big mistake. But I would rather
not mistake at all. Yes credit is | 0:28:31 | 0:28:36 | |
rising, it's been a surprise to the
central bank but pretty dancing | 0:28:36 | 0:28:39 | |
that. Because people's real wages
are falling. So what you are arguing | 0:28:39 | 0:28:45 | |
is you would like to create more of
a consumer credit bubble even as the | 0:28:45 | 0:28:49 | |
underlying fundamentals in the UK
are not so healthy? That is simply | 0:28:49 | 0:28:54 | |
eating your jam today and creaking
more problems in the future? Well I | 0:28:54 | 0:29:00 | |
mean the economy is being held
together by the stimulus from the | 0:29:00 | 0:29:05 | |
central bank. If you want to deal
with the credit problems deal with | 0:29:05 | 0:29:08 | |
that through credit restrictions or
whatever but think about the streets | 0:29:08 | 0:29:13 | |
of Hartlepool, Blackpool, Wakefield,
do you think there is a credit boom | 0:29:13 | 0:29:17 | |
going on? I don't think so. People
are struggling, why do you think in | 0:29:17 | 0:29:22 | |
those places people voted for
Brexit? Not because there was a boom | 0:29:22 | 0:29:26 | |
going on and they were doing great.
That's not true. The economy is | 0:29:26 | 0:29:32 | |
basically flat, there is some credit
going on, people have been spending | 0:29:32 | 0:29:35 | |
more than they should but the
economy is hurting. Thank you both | 0:29:35 | 0:29:39 | |
very much indeed. | 0:29:39 | 0:29:40 | |
Never before in the history
of the EU have a group of elected | 0:29:45 | 0:29:48 | |
members of any government -
regional or national - | 0:29:48 | 0:29:50 | |
been clapped in jail without trial,
but a Spanish High Court judge has | 0:29:50 | 0:29:53 | |
imprisoned eight members
of the former Government | 0:29:53 | 0:29:55 | |
of Catalonia, believing them
to be a flight risk. | 0:29:55 | 0:29:57 | |
The precedent
being the former leader | 0:29:57 | 0:29:58 | |
Carlos Puigdement and four members
of his sacked Cabinet | 0:29:58 | 0:30:00 | |
who are in Belgium. | 0:30:00 | 0:30:01 | |
It looks as though a judge
is about to issue a European arrest | 0:30:01 | 0:30:05 | |
warrant for their return
after they failed to appear in court | 0:30:05 | 0:30:07 | |
in Madrid today to answer
charges of rebellion, | 0:30:07 | 0:30:09 | |
sedition and misuse of public funds. | 0:30:09 | 0:30:18 | |
Today they were protests against the
arrests in Barcelona. But Catalans | 0:30:18 | 0:30:26 | |
are divided. | 0:30:26 | 0:30:28 | |
Catalans are divided over
whether Puigdemont acted | 0:30:28 | 0:30:30 | |
precipitously in leaving
so what will he do next | 0:30:30 | 0:30:32 | |
and how will his EU hosts, Belgium,
respond to the warrant? | 0:30:32 | 0:30:35 | |
Joining me from Brussels
is Mark Demesmaeker | 0:30:35 | 0:30:37 | |
from the Flemish nationalist party,
the New Flemish Alliance. | 0:30:37 | 0:30:41 | |
Good evening. Good evening. Tell me,
what do you think Carles Puigdemont | 0:30:41 | 0:30:52 | |
and his four colleagues should do -
should they return to Spain if the | 0:30:52 | 0:30:57 | |
arrest warrant is issued? It is not
for me to tell what they should do. | 0:30:57 | 0:31:03 | |
I understand why they're in Belgium,
they're here to denounce this | 0:31:03 | 0:31:09 | |
political trial... In front of the
international community. They have | 0:31:09 | 0:31:17 | |
used their rights as a European
citizen to travel to Belgium and to | 0:31:17 | 0:31:21 | |
stay here. But of course, because
they did that, of course the others | 0:31:21 | 0:31:28 | |
in Spain are being detained as a
flight risk, what do you make of the | 0:31:28 | 0:31:32 | |
arrests? It's not because of that,
but what we have seen in Spain the | 0:31:32 | 0:31:38 | |
last few weeks is outrageous. It is
a shock for every democrat in the | 0:31:38 | 0:31:44 | |
EU, it is a shock. This is obviously
a political trial. Jailing, | 0:31:44 | 0:31:53 | |
imprisoning elected members of a
government is unprecedented, it is | 0:31:53 | 0:31:58 | |
disturbing and unacceptable in the
EU. That is my reaction. It looks as | 0:31:58 | 0:32:04 | |
if there is going to be a European
arrest warrant and Spain are going | 0:32:04 | 0:32:08 | |
to ask for the extradition of Carles
Puigdemont and the four others, | 0:32:08 | 0:32:13 | |
perhaps as early as tomorrow. Do you
think Belgium should comply with | 0:32:13 | 0:32:19 | |
that as an EU member? Well this is
something for the judge in Belgium | 0:32:19 | 0:32:25 | |
to decide, politics doesn't
interfere with this. So there is a | 0:32:25 | 0:32:30 | |
procedure for that. It can take a
while. And as I have understood, | 0:32:30 | 0:32:37 | |
Carles Puigdemont has a got Flemish
lawyer who can assist him through | 0:32:37 | 0:32:41 | |
this. But it is up to the judge to
decide. So I have good faith in the | 0:32:41 | 0:32:51 | |
Belgium judicial system. Which
cannot be said of Spanish highly | 0:32:51 | 0:33:01 | |
politicised system. So it is likely
the judge will comply with it in | 0:33:01 | 0:33:06 | |
Belgium? I can't decide on that...
Would you be campaigning against the | 0:33:06 | 0:33:14 | |
extradition and throwing your
weight, you are, your party is part | 0:33:14 | 0:33:19 | |
of coalition government, do you
feel, would your party's position be | 0:33:19 | 0:33:23 | |
that Carles Puigdemont should be
extradited, should be returned, | 0:33:23 | 0:33:28 | |
after all what he did was
unconstitutional under Spanish law? | 0:33:28 | 0:33:32 | |
Again this is not nor a political
party or the Government to comment | 0:33:32 | 0:33:37 | |
on. It is a matter for the judge to
decide. There is a procedure and | 0:33:37 | 0:33:44 | |
will follow it. What we have seen in
other cases is after first hearing | 0:33:44 | 0:33:49 | |
the defendant... Was released. And
certainly when there is no... There | 0:33:49 | 0:34:02 | |
is no terrorist allegation or
something like that, which is not | 0:34:02 | 0:34:04 | |
the case here, but we will see. It
is up to the judge to decide. Do you | 0:34:04 | 0:34:08 | |
think we should have heard more from
Jean-Claude Juncker and the EU | 0:34:08 | 0:34:13 | |
should have weighed in on this? Yes
of course the EU is silent and this | 0:34:13 | 0:34:18 | |
is a disgrace. It is a shame for the
whole of the EU. The EU should not | 0:34:18 | 0:34:24 | |
stick its head in the sand any more
and should speak up. This is about a | 0:34:24 | 0:34:31 | |
fundamental democratic values which
are at stake. If the EU fails to | 0:34:31 | 0:34:38 | |
defend our rights as citizens and
democratic values, then our | 0:34:38 | 0:34:42 | |
democracies will crumble and...
Thank you very much I'm afraid I | 0:34:42 | 0:34:47 | |
have to stop you there. | 0:34:47 | 0:34:51 | |
The DJ and producer Goldie
is considered one of the pioneers | 0:34:51 | 0:34:54 | |
of dance music in this country. | 0:34:54 | 0:34:56 | |
Now 52, he winningly describes
himself as 'the Doris Stokes of Drum | 0:34:56 | 0:34:58 | |
'n' Bass'. | 0:34:58 | 0:34:59 | |
He says it's because
he likes to channel | 0:34:59 | 0:35:01 | |
the spirits of his favourite
musicians into his own records. | 0:35:01 | 0:35:04 | |
In his new memoir,
'All Things Remembered', | 0:35:04 | 0:35:05 | |
Goldie recounts his progress
from care homes and fosters parents | 0:35:05 | 0:35:08 | |
to life on the streets
as a graffiti artist - | 0:35:08 | 0:35:10 | |
to the nation's embrace with roles
in James Bond and 'Strictly'. | 0:35:10 | 0:35:13 | |
Goldie's been talking to our Culture
Correspondent, Stephen Smith. | 0:35:13 | 0:35:15 | |
Beware some flashing
lights in the film which, | 0:35:15 | 0:35:17 | |
of course, befits the star. | 0:35:17 | 0:35:23 | |
Goldie, it's very nice to see
you again, thanks for coming | 0:35:23 | 0:35:25 | |
to talk to us on Newsnight. | 0:35:25 | 0:35:27 | |
Yeah, I love your office! | 0:35:27 | 0:35:30 | |
Producer, DJ, actor,
reality TV veteran - | 0:35:30 | 0:35:33 | |
Goldie's used to having his name up
in lights, but in | 0:35:33 | 0:35:38 | |
the beginning it was about seeing
his name up in paint. | 0:35:38 | 0:35:41 | |
Does graffiti still excite him? | 0:35:41 | 0:35:47 | |
If we were to erase,
let's erase graffiti. | 0:35:47 | 0:35:49 | |
Let's erase it from
the face of the earth. | 0:35:49 | 0:35:56 | |
Some people will applaud
it, "Great stuff". | 0:35:56 | 0:35:58 | |
It's going to be a very grey
journey on the way to work. | 0:35:58 | 0:36:01 | |
But some people would say it's very
kind of solipsistic - you | 0:36:01 | 0:36:04 | |
put your tag up, you don't
necessarily put, you know, "end | 0:36:04 | 0:36:06 | |
poverty," although some people do. | 0:36:06 | 0:36:08 | |
Some people may think it's all part
of this kind of narcissistic culture | 0:36:08 | 0:36:11 | |
we are in. | 0:36:11 | 0:36:15 | |
I think the difference
is that that's a social | 0:36:15 | 0:36:17 | |
media, which is a finger at the end
of a button - people liking and | 0:36:17 | 0:36:21 | |
social media and emojis
and everything else. | 0:36:21 | 0:36:25 | |
People physically
making an effort to go | 0:36:25 | 0:36:26 | |
and paint something physically
and go through the physical | 0:36:26 | 0:36:28 | |
process is very primal. | 0:36:28 | 0:36:34 | |
Spaces like this - youth clubs,
opportunities for the | 0:36:34 | 0:36:38 | |
young, are vital, says Goldie. | 0:36:38 | 0:36:42 | |
If we don't have
that backdrop, if we | 0:36:42 | 0:36:44 | |
don't have certain places for young
people to express themselves, it | 0:36:44 | 0:36:46 | |
will only be a boiling point. | 0:36:46 | 0:36:48 | |
You look at the effects
of what grime | 0:36:48 | 0:36:50 | |
music has done. | 0:36:50 | 0:36:55 | |
There's a place for young people
within this grime thing | 0:36:55 | 0:36:58 | |
to have their own voice, which has
become the voice of UK all of a | 0:36:58 | 0:37:02 | |
sudden, because of influx
of different urban people. | 0:37:02 | 0:37:06 | |
Goldie backs the Mayor
of London's plans to | 0:37:06 | 0:37:10 | |
invest £400,000 in regeneration
projects to benefit young people | 0:37:10 | 0:37:12 | |
among others. | 0:37:12 | 0:37:14 | |
I had a meeting with
Sadiq three months ago. | 0:37:14 | 0:37:18 | |
And I saw the cultural
plan, which a lot of | 0:37:18 | 0:37:21 | |
people conservatively are against. | 0:37:21 | 0:37:25 | |
"Why are we giving these
kids somewhere to paint? | 0:37:25 | 0:37:27 | |
Why are we giving them
somewhere to do music? | 0:37:27 | 0:37:29 | |
Because music's not going
to run the Government." | 0:37:29 | 0:37:31 | |
Well you haven't done a very good
job of it so far, have you? | 0:37:31 | 0:37:34 | |
It's time to change
the way we look at it. | 0:37:34 | 0:37:39 | |
Even if you're not an aficionado
of drum and bass, you may | 0:37:39 | 0:37:42 | |
know Goldie from his appearances
on reality shows like Maestro and | 0:37:42 | 0:37:45 | |
Strictly Come Dancing. | 0:37:45 | 0:37:50 | |
He even played a baddie
in a James Bond film. | 0:37:50 | 0:37:53 | |
I see you later, Mr Bond. | 0:37:53 | 0:37:57 | |
So you put your money
where your mouth is. | 0:37:57 | 0:37:59 | |
If it all goes wrong tomorrow,
at least I'll stay in James Bond | 0:37:59 | 0:38:02 | |
every Christmas for
the next how many years. | 0:38:02 | 0:38:04 | |
You know what I mean? | 0:38:04 | 0:38:05 | |
That is in itself
a great experience. | 0:38:05 | 0:38:09 | |
He has come a long way
from his childhood in care. | 0:38:09 | 0:38:12 | |
I was saved by social workers. | 0:38:12 | 0:38:14 | |
Underpaid. | 0:38:14 | 0:38:15 | |
Long hours. | 0:38:15 | 0:38:19 | |
I think the care system for me,
it was a really important | 0:38:19 | 0:38:22 | |
place they learned
about other cultures. | 0:38:22 | 0:38:25 | |
Knowing that the colour of my skin
is what it is - what am I? | 0:38:25 | 0:38:28 | |
Who am I? | 0:38:28 | 0:38:29 | |
Trying to find identity
was really important. | 0:38:29 | 0:38:31 | |
I think those halfway
houses have become very | 0:38:31 | 0:38:36 | |
sterile and the aspect of red tape
now, well you can't call them Aunts | 0:38:36 | 0:38:39 | |
and Uncles, because
they aren't related. | 0:38:39 | 0:38:41 | |
I didn't mind calling them Auntie
and Uncle, because it gave me | 0:38:41 | 0:38:44 | |
a sense of family. | 0:38:44 | 0:38:44 | |
And I think the people that
write the rules of all | 0:38:44 | 0:38:47 | |
that stuff forget they were young. | 0:38:47 | 0:38:53 | |
One phrase in particular that really
leapt out at me from your book, | 0:38:53 | 0:38:58 | |
given what's happened this year,
is where you say, "God forbid we'll | 0:38:58 | 0:39:01 | |
have to be on fire before we make
the | 0:39:01 | 0:39:03 | |
right change in the
housing situation. | 0:39:03 | 0:39:09 | |
And stop making rabbit burrows
full of speed bumps and | 0:39:09 | 0:39:11 | |
bollards to stop everyone
getting out of there." | 0:39:11 | 0:39:13 | |
You can't read that
after Grenfell without... | 0:39:13 | 0:39:18 | |
Making a connection. | 0:39:18 | 0:39:19 | |
Totally. | 0:39:19 | 0:39:20 | |
What can you say about that? | 0:39:20 | 0:39:29 | |
You know, you're
stacking these people | 0:39:29 | 0:39:30 | |
on the edge of a Borough that's 20
times richer than it. | 0:39:30 | 0:39:33 | |
We're looking at the
short-term, aren't we? | 0:39:33 | 0:39:37 | |
In society, we are tapping
into not even 3% of what we | 0:39:37 | 0:39:41 | |
should be doing for tomorrow's
children and I have said what | 0:39:41 | 0:39:43 | |
we do today creates tomorrow. | 0:39:43 | 0:39:45 | |
And what was done
in those days, when | 0:39:45 | 0:39:50 | |
you look at Grenfell and that
situation, the atrocity it has | 0:39:50 | 0:39:53 | |
caused, the heartache, people
will never recover from that - young | 0:39:53 | 0:39:56 | |
people in that situation
will never recover. | 0:39:56 | 0:39:58 | |
They will need mental help and help
for a very long time. | 0:39:58 | 0:40:03 | |
Those estates, those
places, the youth | 0:40:03 | 0:40:04 | |
clubs, the organisations
around it, are important. | 0:40:04 | 0:40:14 | |
Now in his 50s, Goldie's living
in Thailand with his | 0:40:16 | 0:40:18 | |
young family. | 0:40:18 | 0:40:21 | |
He has released an album this
year and his new memoir | 0:40:21 | 0:40:24 | |
is the work of a man who says
he counts his blessings. | 0:40:24 | 0:40:27 | |
Whisper it, but Goldie
may be mellowing. | 0:40:27 | 0:40:30 | |
Yes, it has been hard
and there's always | 0:40:30 | 0:40:33 | |
going to be challenges -
I was challenged yesterday. | 0:40:33 | 0:40:35 | |
We're always going to be challenged. | 0:40:35 | 0:40:36 | |
You were challenged
to a fight, effectively? | 0:40:36 | 0:40:44 | |
Yeah, effectively challenged
to a fight by a teenager who was | 0:40:44 | 0:40:46 | |
angry, barges past you. | 0:40:46 | 0:40:47 | |
I get it. | 0:40:47 | 0:40:48 | |
You're an angry young man,
but you know what, have a nice day. | 0:40:48 | 0:40:52 | |
Because an older version
of me was, A, that | 0:40:52 | 0:40:54 | |
kid and, B, I've got a choice here. | 0:40:54 | 0:40:56 | |
I'm on my way to yoga. | 0:40:56 | 0:40:57 | |
Imagine that headline -
"Goldie fights with | 0:40:57 | 0:40:59 | |
19-year-old on way to yoga. | 0:40:59 | 0:41:01 | |
Goldie dies in knife
fight on way to yoga!" | 0:41:01 | 0:41:03 | |
Either way, that's not
going to look right. | 0:41:03 | 0:41:08 | |
Bite your tongue, getting your head
down and realising I had a | 0:41:08 | 0:41:11 | |
choice and going to yoga. | 0:41:11 | 0:41:13 | |
When I came out of
that yoga session, I | 0:41:13 | 0:41:15 | |
felt like that's a beautiful
day I've just had. | 0:41:15 | 0:41:25 | |
Tomorrow's front-pages, two on the
sleaze story. And the Fallon story, | 0:41:26 | 0:41:34 | |
one says, I was a victim of Fallon.
The leader of the Commons complained | 0:41:34 | 0:41:40 | |
to Theresa May about vile language
used by Sir Michael and also that he | 0:41:40 | 0:41:45 | |
was tactile and put his arms around
her in unwanted attention and made | 0:41:45 | 0:41:52 | |
comments of a sexual nature. The
Guardian has more on Williamson's | 0:41:52 | 0:42:00 | |
promotion. That that is all we have
time for have a good evening. Good | 0:42:00 | 0:42:06 | |
night. | 0:42:06 | 0:42:09 |