BBC licence deal 'gives us financial stability'

BBC Director General Tony Hall insists he has secured "financial stability" for the corporation - despite having agreed to fund free TV licences for those aged 75 and above.

Critics say the agreement - which will cost the BBC hundreds of millions of pounds - will turn the corporation into an arm of the Department for Work and Pensions.

The Labour party has described it as a "smash and grab raid" that threatens the BBC's independence.

But Lord Hall says he worked hard to get the best possible deal for viewers and listeners, giving the BBC the financial stability it needs to compete "in a world of Netflix and iPads".

"It gives us financial stability and the ability to plan for the future," he told Today.