13/02/2014 The Papers


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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cricket team who are to become full-time professionals after heavy


investment from the ECB. First, the papers. Hello and welcome to our


look ahead to what the the papers will be bringing us tomorrow. With


me are media commentator Neil Wallis and Emma Barnett, women's editor at


The Daily Telegraph. Let's start tonight with the


Independent. Its main picture is of Dave Lee Travis, cleared of 12


counts of indecent assault today. The jury failed to reach a verdict


on two further charges. The Telegraph has a warning that


middle-class savers are being left thousands of pounds worse off


because of a broken pension market. Returning to the floods crisis, the


Financial Times has the headline "humble sandbag overwhelmed by


deluge of flooding insults", quoting experts who've declared the sandbag


an outdated and ineffective way to protect homes. And staying with the


weather, The Guardian has a lead story written by Nicholas Stern, who


of course wrote a major report on climate change, the Stern Report. He


warns politicians that climate change is here now and could lead to


global conflict. Police close in on theee suspects in the disappearance


of Madeleine McCann with the line that British police have identified


three burglars as prime suspects. That is according to the Daily


Express. Plenty to discuss. We start with the Independent and the not


guilty findings on most of the charges against Dave Lee Travis.


Neil, this has dominated the headlines for a few weeks. Yes, and


it will dominate most front pages tomorrow. It is a difficult moment,


because there are charges still outstanding. But it puts the whole


Operation Yewtree situation under a bit of a shadow. They spent ?3


million so far, and I think a lot of people will have raised eyebrows and


be very interested in this verdict in such a high-profile case. Indeed,


and he said the trial by media was worse than the trial by Crown


Court. There has been a huge amount of attention. It has come at the


same time as other cases for Operation Yewtree, and these figures


are celebrities. People know them and they therefore have more


scrutiny. But the only thing we can say is that Operation Yewtree will


be under even greater scrutiny. It is still very much a live case, and


we don't know what will happen. ?3 million, people sat at home will be


thinking, how could it have cost that much? As Bill Roache said, who


was acquitted, there were no winners in that case. We will see what


happens. Onto the main story in the Independent - Tories ditch pledged


to let voters sack their MP. Why did you start with that? I find it


extraordinary. This first came about that you would potentially be


allowed to sack your MP after the expenses scandal. That was one of


those moments where we thought, hang on a minute, we really need a


greater claim over the people we select in our constituency to


represent us. We need, if necessary, to be able to say, we don't want you


any more. Now the prime minister has walked away from that lag, according


to this report. I feel we are getting less and less democratic.


According to the Independent, Nick Clegg did want to push this through.


I think Cameron is on Giorgos Karagounis not to have proceeded


with this. -- I think Cameron is bonkers not to have proceed with


this. The bizarre thing is, he has had two recent the selections in


this party, purely on the grounds of politics. The local party did not


like the way their MP was going. This is designed for people caught


up in what was the Daily Telegraph story about the expenses fiddling


and with the MPs who have been sent to prison, why he should walk away


from this, I find amazing, the titular Lee as it was a commitment


in the manifesto. I think he should rethink and we should get it back.


Let's move on to the Telegraph. Their top story is, savers cheated


of best pensions. This is a competitor Rory about how they


believe this to be true -- a complicated story. It is depressing


to read if you are middle-class. The idea is that you are being ripped


off by the annuity you get. The regulator says it will look at that,


because people sign up to a plan and they never review it. They never get


to go back and have a look, because they feel they can't change it, so


they are missing out on money. People feel locked into things


unnecessarily. I don't think anybody really understands their pension. I


certainly can't even envision what it will be like to have some sort of


pension pot. Might generation don't know about pensions. Well, my


generation does. And this may seem special pleading, but I think this


is an important story. It is one of those untold scandals of the City,


because this report from the financial conduct authority reveals


the scale of the weather pensions industry -- the way the pensions


industry has been ripping off millions of forthcoming pensioners.


There are some terrible statistics in this report. 80% of people who


are buying annuities, which is what you have to do when you get to


pension age if you have not got the state pension, 80% of them are being


sold undervalued pensions. Another statistic - most people are getting


7% less than they should. If you think of taking 7% out of your


income, what an impact that would have. This is really significant,


particularly at a time when savers and pensioners are being hit because


of low interest rates. And of course, Labour and the Liberal


Democrats have been talking about having a tax purge on pensioners as


a way to save money in the next election. You accuse the industry of


ripping people off. The chief executive of the regulator has said


the need to get an income in Taman unites us all, but once you have


bought an annuity, you can't change your mind. We need to understand why


customers are not shopping around and switching. Part of this is that


people save and then forget and ink there are advisers know best. And


also, you will not be surprised to hear that I have read every word of


this, this report suggests that we get bamboozled by the jargon. Our


heads are in it in about what we should and should not do, and what


it really needs is exactly what they are talking about, a thorough look


at the situation to give a better deal to pensioners. But people rely


upon their brokers and intermediaries to inform them. But


with the banks, we discovered we could not rely on them. Those people


are not to be trusted, so it will be interesting to see if people read


the small print. Onto the Scottish edition of the Daily Telegraph. They


have a different headline - Scotland will not keep the pound. It is rare


that the Tories, Lib Dems and Labour should all come together and unite


and announce something like that. This has put a new slant on the


referendum debate. Alex Salmond has been talking about the fact that


everything will be OK for Scottish voters. They will still be able to


have the pound. This is his rhetoric. Now it has been announced


that they will not have the pound if they go ahead. There will not be a


credit union. And he has yet to say what plan B is. People on his side


are saying, we are being bullied. We don't want to accept the debt or the


costs, but we still want the pound. You can't have it both ways. They


have suggested that there is no plan B and at the London government will


changes mind if they do vote for independence. That appears to be his


plan B. It is not a good plan B. It is self evident, I would argue, that


the EU would not allow it to happen anyway. The idea that Scotland could


just go and join the euro, what with the rest of Europe say about that?


It is like the Basque country wanting to secede from Spain. So


they would be allowed to join the euro? You think the French and


Spanish would allow that? This is a mess. Interestingly, the most senior


civil servant at the Treasury has given an independent report on


this, supporting what the three party figures have said. He has said


it is not workable. But it is true, isn't it, that if Scotland had a


separate currency, then all of the business is doing trade would be


worse off. But who underwrites it? They need access to debt, if they do


not have access to debt... It is hilarious that they want to go off


separately, but the first thing they want to do is to create a union with


us again over the pound. He is an economist, he knows this is not


going to be OK. That is why he has got to say, here's hoping they do


not mean it. Actually, I would like to have a vote on Scotland! Moving


on to the Financial Times, and of course, one word which has been used


perhaps more than any other in the last week is sandbagged. But there


is a suggestion in the Financial Times by the environment


correspondent that it is, well, out of date and overwhelmed. This comes


from the chairwoman of the Flood Protection Association, who says she


wants to ban the sandbag, because they do nothing but filter water,


she says. This Devon company says, all you see on the news is people


saying they need more sandbags, but I think all they do is keep people


warm while they watch their houses flood. What is the watery version


of, when you are in a hole, stop digging? This lady from the


wonderfully named Flood Protection Association, says that rather than


use sandbags, they should be using is the show, metal screens, which


are much more effective, they fit over doors, covering valves... Where


is this stuff? I do not know where it is. It is not on the Somerset


Levels, it is not in Staines and it is not in Datchet. I think the


valves for the toilets is a good idea, because that has been a major


problem. I am quite surprised this lady is putting her head above the


parapet, or above the water, because none of this stuff is there. I think


the whole point is, it is normally a temporary solution. Thank you for


that analysis of the sandbags. We will be back later. We will have an


update on the newspapers at half past 11. Also, we will be live in


Wythenshawe, where the polls have closed to choose a local MP. Coming


up next, Sportsday. Good evening and welcome to


Sportsday. Despite finishing in second place, British speed stake at


a lease Chris Day is disco vibe from the 500 metres short track


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