Pre heat the oven to 180 °C. Lightly oil a 2lb loaf tin. Put the saffron in the milk. Warm in the microwave on full power for 30 seconds, or leave overnight. Strain milk discarding the saffron. Put the flour and baking powder into a bowl. Rub in the margarine until the mixture resembles fine breadcrumbs.
Add the dry ingredients. Beat the eggs into the infused milk and pour into the dry mixture. Mix to form a sticky dough and put into the tin. Bake for 1 hour 15 minutes or until a skewer when inserted comes out clean.