09/12/2013 The Papers


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


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


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


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


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


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


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


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


calling for an inquiry into excessive profits made by insurance


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


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


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


surveillance revealed by Edward Snowden. The Mail has the same


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


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


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


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


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


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


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


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


Debbie Harrison, a visiting Professor at the of business school


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


lot is about financial literacy orle ill illiteracy. Something which


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


Financial Conduct Authority have said they will have a review looking


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


According to the Telegraph story, that the quickest rates of


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


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


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


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


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


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


generation of pensioners and hoped regulators would be shamed into


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


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


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


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


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


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


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


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


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


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


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


the weekend about people moaning about Eastern Europeans taking our


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


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


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


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


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


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


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


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


Let's move on to the Independent now.


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


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


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


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


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


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


this case the allegations are quite serious. According to a


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


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


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


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


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


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


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


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


current economic climate? It is difficult for charities to raise


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


houses are beyond belief and expected to go up significantly over


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


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


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


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


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


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


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


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


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


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


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


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


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


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


is something which can concerning many people.


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


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


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


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


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


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


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


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


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


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


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


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


seeing the Government struggling to stimulate the economy as Ed Miliband


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


Michael Adebolajo admits killing Fusilier Lee Rigby, but tells the


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


up, Sportsday. Good evening. Coming up ` Blackburn


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


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


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


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


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


Good evening. Blackburn Rovers are discussing the future of DJ


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




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