21/07/2014 The Papers

Gerrard will quit international football. That is all coming up in

15 minutes. Hello and welcome to our look ahead

to what the papers will be bringing us tomorrow. With me are the

political commentator Miranda Green and Tom Bergin, Business

Correspondent at Reuters. Tomorrow's front pages, starting with... The

Financial Times leads with the story of the Tesco Chief Executive going `

'Chief Ousted as Tesco bows to city' is their headline. Some of the

papers pick up on David Cameron's comments on the Maylasian Airlines

crash. The Times has 'stop selling warships to Russia', PM tells

France. While The Daily Telegraph quotes the Prime Minister as saying

it's time to punish Putin. The Sun says the UK is ready to freeze the

assets of various Russian Oligarchs ` their headline is 'crony war.' The

Independent has a close`up picture of the singer and former X Factor

judge Tulisa Contostavalos, after her trial on drugs charges

collapsed. Tulisa's story is also on the front page of the Metro. The

Daily Mail features a new official picture of Prince George, who's

celebrating his first birthday. And the Guardian leads with a story

about female genital mutilation, their headline, 'Parents who allow

FGM will be prosecuted.' So let's begin... We will focus on some of

those stories, starting with the front page of the Sun. The headline

is crony war. Absolutely. The focus has moved on how best to express

international outrage to Russia and to President Putin over the downing

of the Malaysian jet type Pro brush and rebels in Ukraine `` pro`

Russian rebels. The Sun has decided to go with the most recognisable

Russians who are either residents in the UK or an incredibly high`profile

assets in the UK for example, Chelsea football club and the

suggestion is that the government in this country will get tough on Putin

by targeting individuals who are known to have close links to him

including the owner of that football club and another who has a

significant stake in Arsenal. One of them owns a dot on which George

Osborne was hobnobbing `` yacht. They are all in the Putin Circle in

some way and all will be targeted. The other papers explain that there

are different levels of sanctions which makes it problematic and

Britain is trying to convince other countries in Europe to go up to

level three which doesn't include the targeting of the cronies so it

is a little unclear whether these individuals who are so famous in the

UK will really be targeted immediately. I suppose there is a

doubt as to whether if you target a crony, a very wealthy crony, does it

make a tremendous deal of difference to Vladimir Putin? Possibly not but

everyone has already decided that targeted sanctions are not working

and that we need to move beyond that. If we really wanted to use big

levers, we need to look at big companies and transactions. What we

haven't seen is, what are these issues that people can bring to the

table and contribute? If this is the best of the UK can offer, to say

that we will put pressure on these people, I am not sure how good it

will be. For the UK, the big issue is the city, there is big financial

exposure here and it is where Russian companies come to raise

funds. If the UK did make it more difficult for Russia to take

advantage of the capital market through London, of course other

countries and developing nations who also raise funds to Britain might

not find Britain to be the place they want to do business anymore.

Putting in sanctions of that nature are slightly problematic for those

reasons `` is. It might do more damage to the UK then to these

individuals. The Times, you mentioned level three. That is

mentioned here. It focuses on what the Prime Minister has said to the

French about the warships deal. Many of the papers are taking the David

Cameron line. In the House of Commons, he said that he would love

to get tougher on Putin but he just can't persuade the Germans and the

French to be as tough as they would like them to be. The French have an

order which they are determined to for fill for warships that they want

to deliver to Russia and David Cameron has picked on them to say,

in our country, it would be unthinkable to do this. Fulfil. ``

ffulfill. I do think this is slightly theatrical given that the

city of London has so much to lose from any sort of serious sanctions.

This would put sanctions on Gazprom which would damage the city of

London through financial and economic means. We have large shares

in many Russian companies but it is quite indirect how we're related. If

you are a French person, I can see how you would not want to kill that

order as it is worth millions of euros and I think it possibly will

not be moved by what has been said. It is not in any way equivalent to

the loss that the French would suffer, what is happening here. The

issue is coming what is the best way to behave to get cooperation on the

ground. That is what is wanted by the relatives of those who were

killed in the downing of the jet. Many are waiting to see what the

Netherlands have to say as many Dutch people were killed when the

plane crashed Earth. Some are saying that access to the site, trying to

get those bodies back, all of that depends not on coming down too hard

on the Russians but on the letting things play out a bit more. It is a

tactical decision to go soft and get as much access as possible right

now. Although in theory, that UN Security Council resolution should

help but it is about happening in practice rather than theoretically.

You have to have a look at the track record of going soft on Vladimir

Putin not being very successful. This is the front page of the

Telegraph. George Osborne to slash a tax on pension funds. This with a

strange one. I wasn't sure what the threat could be. It turns out is a

bit more obligated than I had thought `` complicated. If you died,

and your income was not taxed,. Now will be `` that now will be payable

to your heirs but in a reduced capacity. One of the reasons it was

changed was due to concerns of tax avoidance but the larger story that

this is part of is that George Osborne has led the biggest change

in pension taxation in a generation and has said that, you no longer

have to use a pension nest egg that we have helped you build up by not

taxing you so hard, you can go and spend it on what you like rather

than in an annuity. The other question is, will people invest

wisely or become victims of snake oil salesman? That is the accusation

he has to face. I also can't help noticing that there is an election

coming up. The Telegraph is saying that this very technical change was

announced in his autumn statement and that will be in the lead up to

his final budget before the 20 15th of May general election and this is

very much core Tory territory. Inheritance tax and whether you make

it easier for people to pass on at DeMolay did well to their heirs ``

accumulated wealth. As technical as this change is coming they will be

delighted because what better place to advertise? We will stay with the

front of the Telegraph. What to get for a Prince who has everything?

Many of the papers are using these delightful pictures which were used

to celebrate the first birthday of Prince George. This little story

accompanying the picture in the telegraph reveals that since he has

been born in just one year, he has received 4000 gifts from all around

the world, 48 countries. Most parents feel that way with the

conglomeration of plastic toys in one's house but he actually have

it! They are rather extravagant. His parents, William and Kate have

decided that he should not be showered with any more gifts on his

birthday and I think this will resonate with a loss of parents

because I certainly find that on a child's birthday, you receive an

embarrassing amount of generosity from Ben's and family `` friends and

family. The child gets overwhelmed. We tend to just put them in a

cupboard and pretend they never arrived in the house. I'm not quite

sure what they will do with the excess gifts. He has a fattened

calf. Where will they put that? Environmental concerns begin to

overwhelm me when I see the amount of gifts that come into the house

and we ration them as well but it is a wonderful picture. It is

apparently this display of butterflies at the natural ``

National History Museum. Now to Scotland for the start of the

Commonwealth Games. I have not been up to speed on it. I

didn't realise that Scotland played separately. It could be a wonderful

thing to bring the United Kingdom together, but obviously not. I do

wonder about the relevance of the Commonwealth Games. Sport is highly

commercial. I am not sure how excited sponsors are about this. I

am intrigued as to how it will compare with the London 2012 games.

That was such a boost for the winners in Team GB. Those of us who

would like the UK to stay together, I hope it won't lead to a boost for

Alex Salmond, and his campaign. That is all we have time for. Stay with

us and we will have the latest on the United Nations requiring full

access to the site of the crash of MH17. Coming up next, it is time for

Sportsday.