25/04/2014 The Papers


25/04/2014

No need to wait until tomorrow morning to see what's in the papers - Martine Croxall presents a lively and informed conversation about the next day's headlines.


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Transcript


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nine frames into seven. We round up the Dave's action. And we will have

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the live sports results. That's after The Papers.

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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 Jennifer Howze, cofounder of BritMums, and

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Martin Bentham, home affairs Editor of the Evening Standard. Tomorrow's

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front pages. The Independent blames Barack Obama for the collapse of the

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Middle East peace process, which it calls "a betrayal of the

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Palestinians". The FT leads on the government's decision to cap RBS

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bonuses. The Mail says the teenage cancer patient Stephen Sutton has

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sparked one of the most extraordinary fundraising campaigns

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the country has ever seen. The Mirror has an interview with the

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former BBC presenter Susanna Reid, who will launch ITV's new breakfast

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show next week. Prince George stares from the front page of the Daily

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Express. The paper says he is the real star of the royal tour Down

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Under. The Telegraph says David Cameron's new Treasury minister has

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called for a dramatic rethink of the High Speed two rail project. The

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Times says new mortgage rules are prompting lenders to increase the

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rates. And the Guardian looks at UKIP and asks why Nigel Farage has

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the other parties rattled. We will begin with the Guardian.

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There he is on the front page. Nigel Farage. No MPs, one policy. Why does

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he have them rattled? You are from the States, where there are only

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really to political parties in the national elections. Do you look upon

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this with a quizzical attitude? That a relatively small party like UKIP

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can upset the other preestablished ones? It is obvious how much

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attention UKIP is getting. This story is interesting because it is

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really about Nigel Farage's personality. It talks about how he

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has had media training now and he has got security guards. It is

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almost about how the election is changing him in a way. But he still

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likes a pub lunch without any lunch, liquid and if you facts. This piece

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is a very personality driven piece. `` a few fags. He thinks he has the

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middle`class conservative voters. He is now heading to disaffected voters

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in the north. The most interesting thing here politically, it is in the

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subheading, says it is now time for disaffected Labour voters in the

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north. Hitherto the narrative has become the Tories need to worry. It

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has attracted people from right and left. That is a potential impact. It

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is not necessarily going to take people particularly from the Tories.

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The Tories are more worried this `` because it can stop it from getting

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votes in the key seats they need. But it could affect some Labour

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places. Some working`class Labour areas are quite eurosceptics. I

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think he could have an impact on some of those places. But not from

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the first time `` for the first time. A candidate for UKIP has been

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in trouble this week, for unpalatable comments that Nigel

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Farage has distanced himself from. This has happened more than once. I

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don't suppose they have got a grip on all of their candidates and what

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they are saying publicly. And of course they are specifying any

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policies yet. It is quite interesting. I think it is

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interesting, how UKIP might skew the election, siphon people away. We see

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that in America. Where another party siphon is people away, undermined

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support for the parties, even if they don't actually... Win a seat.

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you are talking about the general election, which is the key one, but

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even the euro elections, that could have the trigger effect in the year

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subsequent to the election, where people then react to the results in

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the elections, if UKIP does well. That could skew politics and people

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trying to devise ways to counter UKIP shedding panic into the party.

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That's all something that will be fascinating after we have the

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European election, which isn't far away. Do you think after the

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elections we could get to know some of the other personalities in UKIP?

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I don't think so. When you do get these mavericks who pop up and they

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say embarrassing things or worse, it almost doesn't seem to matter at the

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moment. When Nigel Farage manages to get in further, one 21 debates or

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the party leader debate, which it wants, whether he will or not

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another question, he is an engaging personality at that level. `` one to

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one debates. If you like Nigel Farage will like this story because

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it does bring out his personality and some of the things people find

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appealing about him. The Times, home loan rates raised. New rules to stop

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reckless lending that will affect borrowers. When they apply for a

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mortgage, they will have to answer more questions about their lifestyle

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and their spending habits. It appears that it's a bit of a burden

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on the lenders. A lot more paperwork. A big interview to go

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through. The reaction is to sort of put people off for a bit. It appears

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that some of the lenders are raising their rates. Exactly. It looks like

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Prince George is not very impressed! The grimace on his face. Exactly.

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There are a couple of things. All of these extra tax which will load the

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process down. And the idea that the mortgage lenders are raising their

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rates to deter people, because they can't cope with all of this

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business. There is a line saying that some are taking... The lenders

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are taking nine days just to open their post. That is going to create

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problems. As you say, we have got this new cheques coming in and the

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Chief Executive of the Financial Conduct Authority, the regulator,

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talks about how many trips to the hair salon you make. I can recommend

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somewhere that cost about ?6. They cut my hair and they do a good job!

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Anyway... It's not a surprise. You bring in a lot of new rules and

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admen and it affects the flow of work. We see that in our own work.

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But the consonant is that it makes it so much more difficult for new

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buyers or people to even go through the process. But given what we have

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seen in the past, where people were allowed and encouraged to borrow

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huge amounts of money, which when interest rates go up they can't

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afford, isn't this a sensible way of dealing with it? Exactly. In a way,

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all this week people have been saying, you mean they weren't

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thinking about what people's what it might in one year if things change?

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We hope for the best. We hope interest rates will stay at these

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historically low levels. But we just don't know. When you look at how

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much mortgages cost in the 1980s, up in their teens. Many people would

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really be defaulting on their mortgages if we were to ever see a

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boom like that. Even if it went up to 5% or whatever, the base rate, it

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would have an impact. Especially people who are highly mortgaged. It

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is sensible but the mortgage companies need to deal with it

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rapidly. They will have to get cracking on that. The i. Bonfire of

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bonuses. We have talked about who is receiving what in terms of bonuses

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this week. RBS says it will halve its bonus plan because the Treasury

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says they won't allow it to happen. Of course they can do that because

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this bank is majority owned by the taxpayer. A lot of taxpayers will

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say I'm at quite rightly so, what they? Yes. I think the banks, about

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bonuses, are still in a defensive posture. The line here is that the

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banks are furious about bonuses being blocked. They will comply with

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the EU bonus cap. They can only have a bonus of 100% of their pay.

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Maximum. But bankers are trying and not succeeding at justifying these

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high bonuses. There is still a bit of a disconnect. But they can get

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around it, can't they? And if not, people will walk? That's what they

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always tell us. That's where there is a slight lack of concrete

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evidence. People saying they will leave the country if rates go up and

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most people don't do it. Haps we need to see more concrete evidence.

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But there is this practical problem, that actually the evidence seems to

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be that they get around it by raising base rate salaries and so

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on. Maybe it doesn't have quite the impact. But instinctively from a

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public point of view I think if they aren't making money why should they

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be getting bonuses? They made a pre`tax loss of ?2.8 billion, were

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stunned since the financial crisis. It doesn't correlate with justifying

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big notices. And the government wants to get the Bancroft its books.

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This isn't going to help. Yes, it doesn't help them if they lose some

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of the best people. `` bank off its books. Not popular at first sight.

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Moving on to the Scotsman. CBI does U`turn over no votes sewn up. This

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is the business Confederation. `` votes sign up. It has seen a number

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of its members, the BBC amongst them, cancelling confederation. Its

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membership of the `` cancelling its mentorship of the Confederation.

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They now realise they can't justify it, partly because of the `` a lot

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of the businesses say they don't want to take a position and would

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stand aside. They now have to retract. Your correspondent was just

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making the point, quite rightly, that it could affect the CBI stand

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in a future referendum on the EU membership, for example. That would

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be interesting. Isn't it a bit late? We know they were attached to the no

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campaign. They say it was a mistake by an underling, it wasn't

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sanctioned. The big mistake and quite deliberate one. Is this

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indicative of a trend towards a yes vote? What was it, 18 bodies

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basically said, we don't want to be involved in that. A lot of

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businesses don't want to take a political stance but the CBI have

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taken a political stance, which will be controversial with shareholders

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and customers, viewers in the BBC's case, if an organisation takes a

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stance. That's where they have gone wrong. And actually of course the

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CBI, their record isn't great. They were advocates of us joining the

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euro and we were wrong about that. So, for all its great business

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knowledge, you wonder about how good their assessment of these things.

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Let's move on. The FT. Russia faces fresh sanctions at the `` as the

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West doesn't it stance. Since that was printed, we have more

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information from Washington, where the US and other countries across

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Europe are considering tougher than in their sanctions against various

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individuals. Some of the news agencies are reporting of Putin's

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cronies. It might not be that everybody is targeting sanctions

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against the same people but would it make a difference to the way Russia

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behaves? In the short term probably not. In the long`term it might do.

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The economic damage they might face in the longer term could be

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substantial. Not least because people will go away from dependency,

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`` which will take awhile on Russian gas supplies and so on. That will

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harm the economy. Even now, the economy is suffering with credit

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downgradings and so on. I think there is that danger. Whether these

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particular ones affect the action on the ground in the short term, I

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don't think so. Vladimir Putin sees himself as a hero. But are we in

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danger in the west of believing everything the West tells us and

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nothing Russia tells us? Too many people, what is happening in Ukraine

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is effectively a coup. They have overthrown the president who was

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democratically elected. I think that it is evolving very quickly and for

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your average reader, the issue is that Russia is being very

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combative. The situation is changing so quickly... I agree with that

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point. The Russians have a point that there is an elected government

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there and that we might not like what the president stood for but he

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was elected. That is not an absolutely ideal way of bringing in

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a new government, a street revolt. It raises issues regarding whether

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or not we should support people who overthrow people by nondemocratic

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means if we believe in democracy. Probably the last one, the treasury

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minister calling for a dramatic rethink of the High Speed two rail

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project. She says that it will cause severe and irreversible damage to

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wildlife habitats. Many people will agree with her, won't they? There is

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a lot of money to spend and no proof that there will be economic

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regeneration to the north of England. I think many people on the

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line will agree with it. It is the argument we were discussing before,

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whether it is the right way to generate investment in the North. I

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think that is a question that remains divisive. It puts her in

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opposition with George Osborne as well. He is a passionate supporter

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of the project. I do not know. It feels like that support that was

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there is anything away `` going away. It will be interesting to see

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what a big deal it is in the lead up to the general election. Lovely to

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have you with us. Stay with us here as we have more on the developing

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situation in the Ukraine where pro` Russian forces have captured

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international observers. But coming up next it's time for Sportsday.

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