Who Runs Britain? Robert Peston lifts the lid on Britain's new ruling class and how they affect us

7th Feb 2008; 18:00

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On 13 September 2007, Robert Peston broke the news that Northern Rock had fallen victim to the global credit crunch and was seeking an emergency loan from the Bank of England. It was the latest in a long line of scoops by this award-winning journalist. The Government found itself exposed to the Rock to the tune of £57 billion or almost £2000 for every taxpayer. Britain woke up to a new reality about the risks of globalisation: issues normally discussed on the business pages of broadsheet newspapers suddenly became front page tabloid news.

Robert Peston, the BBC's Business Editor shows that the seeds for the collapse of Northern Rock and the upheavals in the financial markets were sown years before - and that most of us are now paying an economic price for the riches accumulated by others.

His new book, Who Runs Britain?, is about the widening gap between the super-rich and the rest of us. It explores - and explodes - the myth that the financial creativity of those who are amassing these vast fortunes is always good for the wider economy and for all of us. It examines how and why the main political parties are in thrall to the putative giants of wealth-creation.

Respondent: Paul Myners, Chairman of the Personal Accounts Delivery Authority.

Chaired by Matthew Taylor, Chief Executive, RSA.

Download full lecture and Q&A session (MP3, 16 MB)

Download the lecture transcript (PDF, 12 MB)

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