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Wake Up to Money: 13/07/2010

13/07/2010

BBC Radio 5 Live - Wake Up to Money, 13/07/2010

A City Minister says bankers should forego excessive bonuses to reconnect with the public.

Bankers bonuses are once again an issue, manufacturing could help save the economy, BT are taking the government to court over pensions, and inflation figures are released today.

News and views from the business world. 

The City Minister, Mark Hoban, has called for bankers to forego excessive bonuses to reconnect with the public. This comes as the British Bankers Association hosts a banking conference later today. We ask Angela Knight, chief executive of the BBA, how bankers can restore their reputation.

Manufacturing in Britain has seen a surge in recent months, helped by the weak pound. Nigel Whitehead, Group Managing Director Programmes & Support at BAE Systems, tells us that it's vital young people are encouraged to study maths, technology and engineering to secure the jobs of the future.

The Trustees of the BT pension fund are taking the government to the High Court, to get clarification over the so-called "crown guarantee" given to BT workers when the company was privatised in 1984. John Ralfe, pensions expert and consultant, explains what the "crown guarantee" is and why it was offered.

The inflation numbers for June will be released shortly and hold increased significance because of recent changes to the way increases to benefits and pensions are calculated. We spoke to Brian Hilliard, Chief UK Economist at Societe Generale, about his expectations and the reasons for the changes.

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13/07/2010

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