BBC director general Greg Dyke has celebrated two years in the job with news that he has met his target to reduce overheads to 15 per cent of the annual budget a year early.

His next mission will be to increase the amount of money going into programme making.

"Having saved the money and changed the structures, it is time to concentrate on audiences, creativity and making this a really great place to work," he said in his annual address.

BBC staff have been given yellow cards with the blunt mission statement "cut the crap and make it happen".