09/12/2013 The Papers


09/12/2013

No need to wait to see what's in the papers - tune in for a lively and informed conversation about the next day's headlines.


Similar Content

Browse content similar to 09/12/2013. Check below for episodes and series from the same categories and more!

Transcript


LineFromTo

with three races to spare this year. We will have reaction from Hull

:00:00.:00:00.

City. That's all in Sportsday, in 15 minutes after the papers.

:00:00.:00:16.

Hello. Welcome to our look ahead at what the papers will be bringing us

:00:17.:00:24.

tomorrow. With me to do that are James Rampton of the Independent and

:00:25.:00:29.

Mina Ol`Oraibi of the Arabic newspaper, Asharq Alawsat. We will

:00:30.:00:33.

look through all the papers shortly. Let's see what we have so far. The

:00:34.:00:40.

Independent's main story a Panorama investigation into the operations of

:00:41.:00:45.

several UK chart tis. The Telegraph is reporting a financial watchdog is

:00:46.:00:50.

calling for an inquiry into excessive profits made by insurance

:00:51.:00:53.

companies from pensioners. The top in the Times is a summit taking

:00:54.:00:58.

place tomorrow to tackle the risk of dementia. Health chiefs are calling

:00:59.:01:07.

the disease "the 21st century plague." Authors have condemned

:01:08.:01:12.

surveillance revealed by Edward Snowden. The Mail has the same

:01:13.:01:19.

story, that elderly savers are being stripped of thousands of pounds by

:01:20.:01:21.

middlemen when they retire. Let's middlemen when they retire. Let's

:01:22.:01:27.

look at some of those stories. We will start with the Daily

:01:28.:01:31.

Telegraph. Brokers are burgling pensioners is the headline. This is

:01:32.:01:36.

this as the watchdog calls for an inquiry into the ins and out of the

:01:37.:01:41.

excessive profits made by insurance companies. It is staggering, isn't

:01:42.:01:45.

it? It is a complex system we are looking at. Absolutely. It has taken

:01:46.:01:50.

me aback reading the figures here. Some of the quotes are strong.

:01:51.:01:57.

Debbie Harrison, a visiting Professor at the of business school

:01:58.:02:03.

in London, says there's a lack of clarity, insurers are benefiting

:02:04.:02:05.

from the confusion and bewilderment. Here is the line which has given

:02:06.:02:09.

them the headline ` what is the point of triple locking the front

:02:10.:02:14.

door when you leave the back door open for burglars? That reiterates

:02:15.:02:18.

this sense that people are being ripped off. I don't think that is

:02:19.:02:21.

putting it too strongly. These middle men are making a fortune out

:02:22.:02:26.

of pensioner, sometimes who are confused and bewildered by the array

:02:27.:02:30.

of options they are offered. It appears they might be taken

:02:31.:02:35.

advantage of. For those of us who don't have savings in these schemes,

:02:36.:02:37.

remind us how complex it can be. don't have savings in these schemes,

:02:38.:02:39.

remind us how complex it can be So remind us how complex it can be. So

:02:40.:02:42.

the idea is that you have savings. At the moment with the current

:02:43.:02:45.

interest rates, not much interest and not much is being made from

:02:46.:02:50.

savings. Often you get them telling you, well if you put your money in

:02:51.:02:54.

the bank it is losing money because it is losing value as the year goes

:02:55.:02:59.

on. You give up your bulk for an annual income. For many pensioners

:03:00.:03:03.

that may seem when they think, OK I will live 10`15 years, let me see

:03:04.:03:08.

what I can do with my savings. However, there are charges and fees

:03:09.:03:12.

put on. This is what it is focussing on, the idea of the fee, the

:03:13.:03:15.

charges, whether you lose when you agree into this. The small print?

:03:16.:03:21.

Like you said James, there are so many options you get lost in this. A

:03:22.:03:28.

lot is about financial literacy orle ill illiteracy. Something which

:03:29.:03:34.

looks attractive may not be five or ten years down the line. The

:03:35.:03:37.

Financial Conduct Authority have said they will have a review looking

:03:38.:03:41.

into this. Interestingly, also it raises the point about savings.

:03:42.:03:45.

According to the Telegraph story, that the quickest rates of

:03:46.:03:50.

withdrawing from savings in 40 years is people are spending their savings

:03:51.:03:54.

because they don't feel like it makes much difference. Some who want

:03:55.:03:59.

to see the economy given a boost, think, oh this is good. What do you

:04:00.:04:04.

do if you are a pensioner and your savings are being burgled? It is not

:04:05.:04:11.

a new issue. An adviser at Downing Street on pensions says she has been

:04:12.:04:15.

calling for years for a review. She says the market was failing a

:04:16.:04:19.

generation of pensioners and hoped regulators would be shamed into

:04:20.:04:24.

taking action. Regulators have done nothing about it. I hope stories

:04:25.:04:29.

like this and I know The Mail is leading as well, will kick them into

:04:30.:04:35.

options. We are looking at ways to invest wisely, particularly in old

:04:36.:04:38.

age because pensions are not as good as they used to be. And we are

:04:39.:04:43.

living longer. Some of us will. I mustn't speak for myself! Last

:04:44.:04:47.

week's headlines about most people having to work until they are 70

:04:48.:04:50.

now, so again the age of retirement... I will not make it

:04:51.:04:55.

that fine. We will be long gone by then! If not, we enjoy our jobs

:04:56.:05:00.

Either way. Now we all had a giggle at the cartoon on the front`page...

:05:01.:05:05.

I don't know if your graphics guys have been able to get close in on

:05:06.:05:11.

it. Oh, they have. Hilarious. This is in reaction to comments made over

:05:12.:05:18.

the weekend about people moaning about Eastern Europeans taking our

:05:19.:05:22.

jobs and in reference to the MPs' salary rise. Two guys in Bulgaria.

:05:23.:05:29.

One says,ly take a low`paid job that Brits won't do ` I am going to be an

:05:30.:05:35.

MP. David Cameron said the cartoon is what he turns to every day in the

:05:36.:05:41.

paper. Every day is a winner. His hit`rate is incredible. There are

:05:42.:05:46.

two stories ` the Eastern Europe peen story and actually this was a

:05:47.:05:50.

couple of ministers from Bulgaria who say they are taking jobs the

:05:51.:05:55.

Brits won't do. On the other hand MPs could get an 11% pay rise, which

:05:56.:06:00.

is causing a stir. I would be very happy with 11%. 1% would be good!

:06:01.:06:05.

Let's move on to the Independent now.

:06:06.:06:12.

This has of dedicated most of its front`page to a BBC Panorama. It

:06:13.:06:16.

will be broadcast tomorrow into a number of Britain's major charities.

:06:17.:06:20.

It appears the Independent has done some of its own investigating as

:06:21.:06:24.

well. I think this is a really strong story, I must say. I am a bit

:06:25.:06:29.

conflicted because we always want to think that charities always do the

:06:30.:06:33.

right thing. They are obviously generally very well intentioned H in

:06:34.:06:36.

this case the allegations are quite serious. According to a

:06:37.:06:41.

whistle`blower, he's accused safe the children, one of our oldest NGOs

:06:42.:06:50.

of sen el self`centring criticism of the big six because they are funded

:06:51.:06:54.

by British gas. He suggested that they are holding back in criticising

:06:55.:06:57.

those companies because they are taking money from them. That is a

:06:58.:07:00.

serious allegation. I understand that British gas deny it. It is a

:07:01.:07:05.

really interesting story to be highlighting. And I believe you have

:07:06.:07:09.

the denial from Save the Children. It is important because it raises

:07:10.:07:13.

the question of what does corporate sponsorship of a charity mean n the

:07:14.:07:19.

current economic climate? It is difficult for charities to raise

:07:20.:07:22.

money. People feeling the pinch While they are generous, but not as

:07:23.:07:28.

generous as they used to be. Corporate responsibility want to be

:07:29.:07:32.

seen doing more for chart tis. Where do you blur the line? What sort of

:07:33.:07:36.

agreements are done? This is important, but it is sad, to be

:07:37.:07:38.

honest to see Save the Children, who honest to see Save the Children who

:07:39.:07:42.

have done great work in the UK and internationally, they have done a

:07:43.:07:46.

brilliant job this year for Syria. You would not want it to tarnish

:07:47.:07:52.

them and make people hold back from supporting these charities. Clarity

:07:53.:07:57.

is important, but I hope it means there is more internal

:07:58.:08:01.

investigations within the charities. Both deny any wrongdoing. As you

:08:02.:08:04.

were saying Save the Children, which is very much the focus on the

:08:05.:08:08.

front`page of the Independent, as much as we can read it tomorrow but

:08:09.:08:14.

more on Panorama and the pages as well, they are one of the old ets

:08:15.:08:19.

non`Government organisations and survival is key. If you are the old

:08:20.:08:24.

ets, you will be one of the big `` oldest, you will be one of the

:08:25.:08:27.

biggest as well. There is an appeal, one of the charities always at the

:08:28.:08:32.

forefront. They do brilliant work all over the world. I really hope,

:08:33.:08:36.

even though the story is important, it doesn't deter people from

:08:37.:08:40.

contributing when you see a collection box I hope you will still

:08:41.:08:45.

put the money in because they do fantastic money in this country and

:08:46.:08:48.

everywhere in the world. Here is an investigation which brings the

:08:49.:08:52.

charities together trying to survive and the Energy Bill crisis. That is

:08:53.:09:03.

why it is such a good story. On to the Financial Times. We have a theme

:09:04.:09:10.

tonight going, haven't we? The Governor of the Bank of England

:09:11.:09:12.

revealing, giving us some insight into how he wants to try and tackle

:09:13.:09:18.

the housing bubble. And this is particularly in London ` I know as a

:09:19.:09:25.

reporter with our colleagues at BBC London, the price of `` prices of

:09:26.:09:29.

houses are beyond belief and expected to go up significantly over

:09:30.:09:33.

the next five years. We are looking at an average price of a house at ?1

:09:34.:09:38.

million in five years' time. Salaries are not keeping up. Oh,

:09:39.:09:40.

million in five years' time. Salaries are not keeping up. Oh my

:09:41.:09:43.

gosh! Great for homeowners, but not for buyers. It is interesting

:09:44.:09:49.

because it also is a time... People are still getting to know Carny

:09:50.:09:53.

since he took over at the Bank of England. This is him... It is fresh

:09:54.:09:59.

blood, isn't it? Trying to explain is his fiscal policy? People are

:10:00.:10:06.

wanting interest rates to be kept low. He said if unemployment rates

:10:07.:10:10.

fell to 7 pfrs that would be an indication toll raise interest

:10:11.:10:13.

rates. However we will likely be approaching that and he's almost

:10:14.:10:17.

like stepping away from that earlier statement, saying, actually I can

:10:18.:10:21.

look at other options. Not clear what they are within the coverage

:10:22.:10:25.

that we have seen here, but that it is not necessarily going to be

:10:26.:10:28.

interest rates, even though the housing bubble, as you rightly said

:10:29.:10:32.

is something which can concerning many people.

:10:33.:10:37.

It's a very political position. Now he has charge of interest rates ever

:10:38.:10:45.

since the Labour Party handed that to the Bank of England in 1997. He

:10:46.:10:50.

is foreshadowing possibly using other tools. I think it's very, very

:10:51.:10:54.

clever. He is striking a different note from Lord King. He's made this

:10:55.:10:59.

statement today and he says the ghost of Christmas present is a

:11:00.:11:04.

cheerful spirit, trying to litten the mood. Lord King was serious,

:11:05.:11:07.

cheerful spirit, trying to litten the mood. Lord King was serious but

:11:08.:11:09.

Mark Carny is from Canada and he is just a bit different and I think

:11:10.:11:14.

he's trying to show another face and he's trying to create a different

:11:15.:11:18.

atmosphere perhaps. Increase optimism. He's saying levels of

:11:19.:11:22.

business confidence are the highest for 15 years. That's part of his

:11:23.:11:27.

job, as almost being a cheerleader for the economy. Do you think we are

:11:28.:11:30.

seeing the Government struggling to stimulate the economy as Ed Miliband

:11:31.:11:36.

suggests? We get the headlines that things are looking better, but by no

:11:37.:11:41.

means is it as quick as the Government would like? People still

:11:42.:11:46.

haven't seen living standards go up. Even though the figures and

:11:47.:11:50.

headlines seem more optimistic, people haven't felt it and

:11:51.:11:53.

especially going back to energy bills and people who are paying more

:11:54.:11:57.

and not feeling they're receiving on the other end, so it's interesting

:11:58.:12:02.

here, because again the FT quotes the chairman of the office of budget

:12:03.:12:06.

responsibility and says that, "We don't get the 2% a year real quote

:12:07.:12:11.

in wages and salaries that people would be used to." We are still

:12:12.:12:16.

looking at another two years. I m looking at another two years. I m

:12:17.:12:21.

old huff to remember Harold Wilson talking about the pound in your

:12:22.:12:24.

pocket and people do not feel like the pound in their pocket is worth

:12:25.:12:29.

very much. They still feel very underconfident about going out and

:12:30.:12:34.

spend ng and splurging. They still feel nervous about the economy. Bill

:12:35.:12:38.

Clinton used to say it's the economy, stupid, so you have to have

:12:39.:12:42.

the confidence to make people spend and I don't think we are quite there

:12:43.:12:46.

yet. You wouldn't know it as I battle through shoppers to get to

:12:47.:12:48.

the shops. Aren't they annoying? the shops. Aren't they annoying

:12:49.:12:57.

Thank you both for taking us through the papers. They'll be back later

:12:58.:13:01.

for another look at tomorrow's papers. Do stay with us here.

:13:02.:13:08.

Michael Adebolajo admits killing Fusilier Lee Rigby, but tells the

:13:09.:13:12.

court it was not murder, because he's a soldier of Allah. Also coming

:13:13.:13:15.

up, Sportsday. Good evening. Coming up ` Blackburn

:13:16.:13:37.

Rovers ever discussing `` are discussing the future of DJ Campbell

:13:38.:13:40.

after his arrest in connection with spot fixing. Danny Graham scores his

:13:41.:13:46.

first goal in nearly a year, but deaS not enough for Hull City. ``

:13:47.:13:52.

it's not enough for Hull City. Formula One change their rules to

:13:53.:13:56.

increase the chance of the title race going down to the wire.

:13:57.:14:14.

Good evening. Blackburn Rovers are discussing the future of DJ

:14:15.:14:22.

Campbell. Campbell was one of six arrested by the National Crime

:14:23.:14:23.

Agency

:14:24.:14:25.

Download Subtitles

SRT

ASS