Lord Rothschild on 'worrying' banking excesses

To mark the Diamond Jubilee, The World At One's Shaun Ley will be hearing from five holders of one of the country's most exclusive honours, the Order of Merit.

At any one time, there are just 24 members and, unlike most honours, it is in the personal gift of the Queen.

Lord Rothschild is a scion of one of the most famous names in banking. He started out in the family business, although in recent years he has been running an investment trust. But he is probably better known for his philanthropy and restoring the family's country estate, a National Trust property not far from the proposed route of the high speed rail link.

Shaun Ley met Lord Rothschild at Spencer House, another building he has helped to restore, this time in central London; and spoke first about the Order of Merit, and what being a member meant to him.