06/08/2014 The Papers

Celtic, and have the latest as England and India prepare for the

fourth test at Old Trafford. That is all in sports day, in 15 minutes

after the papers. Hello, and welcome to our look

ahead to what the the papers With me are Caroline Daniel,

Editor of the Weekend edition of the Financial Times,

and Eleanor Mills, Editorial with The Financial Times, which

says health companies may be halted by

the potential closure of a US tax The Metro leads with the two

British students murdered in Malaysia. It

says they were stabbed for being too it says Tropical Storm Bertha will

hit the UK on Sunday; The Telegraph claims that hundreds

of thousands of people are preparing to withdraw about ?26 billion from

their pension pots over the next 5 years under the government's pension

reforms ` and also says Boris Johnson could become Business

Secretary if the Conservatives win divisons over Gaza, and why this

simian "selfie" is costing a wildlife photographer thousands of

pounds in a copyright dispute. The Guardian says that Boris

Johnson's possible return to the House of Commons is causing anxiety

in Conservative ranks over a future threat to David Cameron's

leadership. While the Times claims that the

London mayor faces a race against time to find a constituency before

next year's election. We will begin with the front of the

Telegraph, and inevitably, Lenore, Boris Johnson. He is back! As if he

ever went away. Welcomer he did not really go away. But I think we have

been waiting for this announcement that he was going to try to run for

a seat in Parliament. We knew that he was going to say it, and that if

he did he would do it before the Tory conference, because in the last

two years it has been very overshadowed by what he would or

would not do. I think it is rather exciting. I think it may be linked

to the fact that this prime seat in Uxbridge is coming up in the next

couple of weeks, which, since he is going to have to go on being Mayor

of London, might be a good one for him to do, because it would be

convenient, and also he could go on doing his London stuff. I am not

that surprised actually. I think that this has been the mood music

for a long time, and Cameron has been very magnanimous about having

his best player back on the pitch. They are trying to pretend they are

one happy team, but we know that what Boris really wants is David

Cameron's job. Well, according to the Telegraph he is in line to the

Business Secretary. They are slightly ahead of themselves. Well,

everybody else has the story, so the Telegraph decided to gild the lily

by adding this. It is a baffling line to me. As if that is really

going to entice Boris into Parliament any quicker, the promise

of potentially being Business Secretary if they potentially win

the next election. It is especially weird since the next election. It is

especially weird Santi Atchley said today position until after the mayor

of thing finishes. `` especially weird since he said today. And with

the whole thing orchestrated by David Cameron, the tone is full of

language about clashing and a split in the Tory party. It is about how

his return will destabilise the Commons. It is a slightly weird

story, trying to have the cake and eat it. Yes, there was a reference

to an earlier clash this year with Michael Gove in this piece. There is

the suggestion that that relationship... There is interesting

factionalism here. We know that George Osborne is really the man who

would like to be leader after David Cameron goes. And Michael Gove,

earlier this year, was very outspoken about how he thought Boris

Johnson was an unfit person. Boris was furious about it. So Michael

Gove is very much backing George Osborne, and George Osborne has very

carefully put in a lot of his own people. I think Osborne will very

much be the man to beat. Boris does have this capacity to reach parts of

the electorate which other Tory politicians just don't. In London,

which leans towards Labour, one in five Labour voters voted for Boris.

And he has appeared amongst those where people think Cameron and

Osborne are hopeless posh boys. Boris is frankly posh as well, but

because he seems real, and he is funny, today he was doing it with

assertiveness and the weasel words. He is very good at playing the

gallery. And he is still incredibly popular in London. 60% approval

ratings. Caroline, take us into the express' coverage as well, because

they are focusing on some of things that are being said with regards to

the EU. I think in some ways there will be focusing the next few days

on the European angle. This was a big speech on Europe, and the next

stage will be, what does this mean the UKIP? His intervention, it is so

powerful comic is basically saying we do not need to be paranoid and

scared about pulling out of Europe. He said some quite significant

things about how we have a great and glorious future outside the EU. He

is trying to build a very positive case for this debate, rather than

actually saying that everybody has been very concerned and unhappy

about the referendum debate. What he said in the report is highly

political, highly aggressive about his EU agenda. It was a very long

and major report. I think the attention, if I was Nigel Farage

tonight, looking at that, I wouldn't worry about this being a cornerstone

of David Cameron's EU debate. I think Boris is being very clever,

because really the keystone of Nigel Farage's appeal is this idea that we

have no control over how many people come here from the rest of Europe.

As that is one of the key things that Boris said today, was that he

really wants to limit that kind of free European immigration. But he is

also, interestingly, on the part of the city, he is very pro`the kind of

immigration, the kind of skills that we need. It is quite a kind of

nuanced picture. And to be fair to Boris, he does know about Brussels.

When I first worked with him, when I was on the Telegraph, 20 years ago,

I'm getting ancient, he was the man who talked about the straight

bananas. He has always been withering about European legislation

and how crazy it isn't Howard Raps businesses and red tape. He been

consistent on this, and I think he has also noticed that the only way

you negotiate with the EU with any kind of power is if they really

think that you might walk out. So he has been critical about Cameron, in

a way, conceding too much in saying that he will lead a yes campaign and

does not really want to go out. It is a pitch to UKIP, but I also think

he believes it. And according to your paper, Caroline, he has

bombshells Westminster. We love alliteration in the headline. As I

said, I think what is going to be interesting is that Boris Johnson is

such a global figure. I think it will be fascinating looking at the

coverage overseas, especially in Europe, about his speech. I think

they will put this up and be worried about it. We will stay with you and

your paper, because the main story there, European health groups hit by

US tax inversion doubts. That might not be a headline, but it captures

everybody in the morning, and I know you can tell me that message and

what it means. I will try to translate it into compensating wish.

You are too modest. You are very good at this. The reason it matters,

we all remember the big Pfizer deal. It wanted by AstraZeneca. The reason

it wanted to do so was because of tax reasons. They have very high

corporate taxes in America, and there has been a sort of mechanism

of moving headquarters from the US to the UK, by buying an asset over

here, and saving lots of money on tax. So that all these tax driven

deals have lifted the pharmaceutical sector hugely. And what is happening

in America now, this week, is that Obama, the Obama administration,

they have decided to get concerned about big American companies, like

Walgreens, which is as famous as Boots is here, coming over and

moving their headquarters overseas. The reason this matters is that it

suggests that Pfizer, which is obviously been watching the politics

of the tax debate very closely, may not now be able to come back.

Because it is getting so politically difficult. So what happened today is

that Walgreen said they are not going to do a tax inversion in the

way everybody was expecting. Announcing that they cost than $8

billion in their share price falling, because everybody had been

expecting all these lovely tax benefits. I think it is an important

corporate story, because a lot of people here were worried about jobs

in the UK, American companies buying up British jobs for tax reasons. I

was about to make that point. There are some people here who will think

that if they do not come back, that is good news. Exactly, yes. We will

go back to the Telegraph for a moment. And now lead, a ?4 billion

tax bonanza, 650,000 cash in pensions. This is the idea that we

can dip into our pension pot, well, not when we choose to, but at the

moment that we would be entitled to? You do not have to buy one of those

pesky annuities which pay rubbish rates. When this was launched, it

was all that stuff about how you could go buy a Lamborghini or a

Ferrari. Like those people in Knightsbridge were running around in

supercars. This is saying that if you take out your cash to buy your

supercar, you may get hit with a big tax thing. So if it is over the

40,000 threshold, you get hit with 40% tax. And it goes to a bigger

question, which is about whether these people are going to get the

right kind of advice. There is lots of anxiety, because one of the key

parts of the promise, when George Osborne made it, was that people

would get really good advice about what to do. I think there is a big

fear that basically the government will take this ?4 billion tax

bonanza when people start cashing in their pensions, and they will not be

given the advice warning them that if they do, they are likely to lose

half their pension pot to the Treasury. And as we said earlier, it

is a bit annoying, because you have already been taxed on that money.

But from George Osborne's point of view, if ?4 billion of me appears in

the coppers, he will not be too concerned about that. Well, they are

trying to put a number on the number of people likely to do this. The

average amount people are looking to take out is ?40,000. In my mind, the

average pension for a lot of people is much lower than that. I think

we're really talking about wealthy people taking a lot of their money

out of some of schemes. Inevitably, if you have more money, you will get

better advice. There are such low yields as well that you will

probably want to invest your money in property. People have a right to

take out them money. A quick words regarding the Lib Dems and Gaza. It

is less of a story than meets the wife. Following Baroness Warsi

criticising the government on its policy overseas, there has been a

lot more piling in with other people criticising David Cameron's

position. Nick Clegg is talking about arms sales to Israel being

stopped. There is a bit of a ground swell against David Cameron's

policy. Let's just take the photograph in. It's glorious. It is

one of the silly season's great stories. The macaque was

photographed with the kids of the Gloucestershire photographer. He

nicked the camera and started taking photographs of himself. There is an

interesting copyright argument going on. Anyone can use this picture

without paying for it. However, people are saying the monkey took

it, so they don't have to pay royalties to the photographer. The

photographer saying it belongs to him because the monkey can't go out

and buy a camera. I love the fact that the US law says that nonhuman

authors do not have the automatic right to copyrights. `` copyright.

Do they get it eventually? I really feel so for the photographer. I feel

sorry for the monkey. I feel sorry for all of them! We will have to end

it there. That is it for now. We'll be back at 11:30pm. Stay with us

here on BBC News. At 11pm, the Mayor of London Boris Johnson says he

wants to stand for a Parliamentary seat at the next general election.

Next, it's Sportsday. Welcome to