26/01/2014 The Papers


26/01/2014

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.


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introduce a 50p rate of tax is fair. Thousands of Ukrainians have paid

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tribute to a man killed during clashes with police in the capital

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Kiev. Protests have continued to build around the country.

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Hello and welcome to our look ahead to what the papers will be bringing

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us tomorrow. With me are Mihir Bose from the London Evening Standard and

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the pensions analyst Ros Altmann. Tomorrow's front pages, starting

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with the Independent. It reports on what it calls the UK's regional

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brain drain. The paper says huge numbers of young adults move to

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London and never return home. The Daily Telegraph reports on a story

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we've been covering, the attack by business leaders on Labour's planned

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50p tax rise. The Metro claims England football fans are being

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lured into a ?15 million scam involving the sale of World Cup

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tickets. The front page of the Express says a revolutionary laser

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treatment for arthritis has been discovered by scientists. The

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Financial Times also examines the business world's response to

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Labour's tax pledge. The Guardian claims that the

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government accepted ?1,000 from a fraudster who was selling fake bomb

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detectors. The Times reports that the government is planning an

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overhaul of pensions which could see them increase by a third in value.

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And The Daily Mail also reports on this story, saying pensioners could

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be ?25 a week better off. Beginning with a story that has had

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a lot of traction. Some of the papers were previewing Ed Balls'

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speech on Friday night for their Saturday editions and we are now on

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the Monday conditions and the story is still here. By Financial Times

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reports it as businesses blast the 50p plan. Conservatives claimed the

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proposal threatens recovery. We had a 50p tax rate before and it didn't

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last. Isn't it Labour testing the waters? We have 15 months until the

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election. Ed Miliband has already said he will freeze energy prices if

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he comes into power. This 50p tax is presumably the next step. Labour is

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saying how they can manage the economy. Their problem is, in the

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next election, how they will convince the electorate, having

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mismanaged things last time, that they are competent to do it. Ed

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Miliband is hoping that he can build. And at all is, that they care

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for the common people, the people suffering. The story has been kept

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on the front pages because we are now looking at the business leaders

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are positive response. The Telegraph reports many business leaders have

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written a letter, saying this is a terrible idea. But they would,

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wouldn't they? It's more about politics. This is about playing to

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the people, the vast majority, in this country. Most wouldn't go

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anywhere near enough to pay a 50p tax rate. It's a sort of populist

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measure, perhaps tapping into some of the discontent that there is

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because the disparity between those who are middle incomes and those at

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top has widened. There is an increase in inequality of income.

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This is, if you like, a bit of political grandstanding. Lord

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Prescott on Twitter said, it's amazing seeing all these people

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earning over 50 K are against it. Does it require that politicians

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need to explain more to people, why it 50p tax rate is not the cure?

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They are just not explaining it well enough? Political parties fight

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elections on making pledges which are headline news. The right tabloid

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headline. They don't go into the details. It's only when they come to

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power and you discover some of their policies don't work. For Labour,

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it's very important to get the right headlines. But they are really

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reaching out to the right people. At the moment, Labour is still not

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crossing the 40% threshold in the polls. Although this won't raise

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much money at all and it indeed may not raise any money, according to

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some estimates I've seen, it does play to the politics. There are a

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lot of people out there who are very angry that their pay has been cut or

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frozen and pay at the top has soared. That, I think, is what

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Labour is tapping into. And the anger increases when you have

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austerity and people are facing cutbacks. They feel, why are the

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rich getting away with it? Or why are the 3% who are likely to get

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away with it, why are they getting away? But it won't really be the

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measure we need to tackle the deficit. But it won't completely

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destroyed a recovery. The other side of the claim might also be an little

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bit dubious. But, from a political point of view, Labour won't be

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wanting to alienating want to be alienating business. New Labour made

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an enormous claim of saying we want is this, we want people to be

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successful, we want people to own money because that brings more money

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in for everybody. To a certain extent that's true. We have seen

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recently in France, they introduced that 75p tax rate, a lot of

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businesses just got up and left. The French people came here! That, I

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think, is the risk. This rate is less money than leaving tax rates

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where they are. But this isn't new Labour. Ed Miliband says new Labour

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is over. They are obviously still reliant on large donors, who have

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already come out and said they aren't happy with this. It will be

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interesting to see how it works. I would much rather see either party

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talking about merging tax and national insurance together and

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having a low rate overall, rather than attacking one group or another

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and having a political battle over top rate tax. That's to convert

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catered an idea for politicians. -- to convert catered an idea. This

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idea here of the loo of London attract the young talent from the

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regions. -- lure of London. And, in many cases, they don't go home. We

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have a boom in the south and it's sucking people in from all over the

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country because this is where the jobs are. This is where the new jobs

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are being created. The article explains that 80% of the new jobs

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created over the past few years have been in London in the south-east. If

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people who don't live down here have not got a job and they want to find

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one, they are going to have a bit -- better chance if we move down here.

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Once they establish themselves, they aren't always going to go back. We

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need to develop the regions and we need the recovery to spill out to

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some of the other areas. But once you move to the south-east, the

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temptation is to stay because you think, if I move away, I won't be

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able to come back. This report emphasises that London is the big

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centre of our country and London has always been the big centre for a

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number of years. And this austerity, these cuts that we've had,

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recession, has further accelerated the process. And the other centres

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haven't developed. I can't see another process in which the other

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centres can develop. I don't think we will become like France or Italy

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or the US, where we have four or five big cities. Is that because we

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are too small a country? The distances are short. But if you look

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at the media, 11 newspapers are all in London. The BBC has gone up to

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Manchester. Breakfast is their! -- there. But regional papers are

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closing. The Evening Standard is free in London. You can't imagine

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that happening somewhere else. London has become a capital stake by

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itself. Although the Metro is available in many places. It started

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off in London but that's become a free paper that's gone everywhere.

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When the Olympic Committee wanted to come, they said, if you present

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London, we will come, not Manchester. We need the government.

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This is a redistribution issue. We need investment in other areas and

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the government is talking about that. Building investment outside of

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London. Develop the other areas. Let's move on to talk about a

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pensions story. Good thing you are here, Ros. Staying with the Times.

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Pensions to rise by 30% in pensions revolution. That's their story. But

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it comes with greater risk. Can you explain this? I would say this

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headline is a bit misleading. The idea that just by changing the type

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of pensions scheme you are in you can get 30% more, it depends on

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investment markets and it depends on investments. And your pension during

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the time you get that pension could vary according to performance? It's

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trying to say that the government is now looking at, because we have a

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pensions crisis and not enough people are putting in funds and

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employers are closing schemes, and we find a less risky pension? Now,

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employers take some of the risk without offering cast-iron

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guarantees. This is what we are talking about. They have this kind

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of model in Holland. The idea is that everybody puts money into the

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pot. Those already retired take out what they think they can afford. The

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risk with these pensions is that younger people may not get the same

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as older people, even though they have put in the same amount.

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Somebody on Twitter, appealing to you directly, please point out this

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30% comes from a spreadsheet in -- and some dodgy assumptions. It does

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depend very much on assumptions. It's a bit misleading. This is about

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private pensions. It's about trying to invent a different type of

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scheme. One of the big benefits of this one is joining lots of schemes

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together. Like they do in Holland. Doesn't it reflect the fact that

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final salary schemes aren't now affordable? And we don't have a

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viable employers scheme any more. Basically, we haven't found a

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formula. The younger people have always subsidised the older people

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but you are saying this will accelerate or even further enquiries

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that process. That would be one of the risks. The people who aren't in

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favour of this type of scheme would say, what you are doing is getting

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money in for -- from the younger generations. They put the money in

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and yet you can't be sure that the pension would be there when they

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retire. Equally, this kind of scheme does also allow you to cut the

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pensions of people who are already pensioners. Our current system

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doesn't do that. That would be a big change. And other pensions story in

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The Daily Mail. Top up lifeline for women. Boost your pension by ?25 a

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week. But this is only for people who are currently... Have reached

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state pension age or we'll do so by April, 2016. -- will. This is the

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state pension. You can do this with the private sector. This is what

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will happen to the states. And you will get a particular sum of money

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back. Whether people want to do that or not... If they have the money,

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why would they want to put it in a pension? They would want to invest

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it elsewhere. Having money in a pension pot is a good alternative to

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having an annuity. We don't know how much they will charge you to buy the

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extra pension. They say ?1 for every ?900. They are all estimates. We

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have not seen the final figures. And buying any index-linked pension

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depends on the age at which you buy it. If you are 70, it will be

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cheaper than if you are 60. Let's get that to the Times. Boys need to

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be taught how to treat girls. This is according to Mumsnet, who are a

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large campaigning group these days, saying that sex education should be

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compulsory at secondary schools to teach boys to respect the girls

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because many boys are getting their idea of what sexual relationships

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are like from online pornography. It seems that in schools there is no

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form of sex education that is provided. It also says one in three

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girls is groped or experiences some form of unwanted sexual touching at

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school and that is a very sad and disturbing statistic. We would have

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thought that we have come a long way in this country in properly teaching

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people what sex education is and if we are not doing that, that is a

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serious problem. In state schools, there is still sex education being

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compulsory but in the new academies, where the governors of the schools

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are in charge of the curriculum, they can choose what to include or

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exclude and some are excluding it. We need to look at how to make sure

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that boys have the respect for girls and equally girls have the respect

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for boys. That is all we have time for. Thank you for joining us this

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evening. Stay with us on BBC News. Next is the Film Review.

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Hello and welcome to the Film Review. To talk the week in cinema,

:15:28.:15:35.

Mark

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