:00:00. > :00:00.bring you the latest from the French open as Novak Djokovic each and
:00:00. > :00:09.Maria Sharapova get through to the next round. `` Novak Djokovic and.
:00:10. > :00:16.That's up in 15 minutes after the papers.
:00:17. > :00:20.Hello and welcome to our look ahead to what the papers will be bringing
:00:21. > :00:23.us tomorrow. With me are Beth Rigby of the Financial Times, and the
:00:24. > :00:27.director of the Creative Industries Federation, John Kampfner.
:00:28. > :00:30.Tomorrow's front pages. The Financial Times reports that the RBS
:00:31. > :00:34.has become the second bank to cap large mortgage loans.
:00:35. > :00:35.Tomorrow's front pages. The Financial Times reports that the The
:00:36. > :00:39.Telegraph has a photograph of two veterans who met today for the first
:00:40. > :00:42.time since they took part in the D`Day landings 70 years ago.
:00:43. > :00:48.There are also commemorative portraits of some of the D`Day
:00:49. > :00:51.veterans in the Guardian. The barrel bomb and the ballot box,
:00:52. > :00:57.is the headline in the Independent which examines how Assad held on to
:00:58. > :00:59.power in Syria. The Metro has the story that
:01:00. > :01:02.three`parent babies could be born within two years after the
:01:03. > :01:08.controversial procedure was given the go`ahead.
:01:09. > :01:11.And, the Mail says shoppers will have to pay 5p for plastic bags from
:01:12. > :01:15.next year. And finally The i suggests there are
:01:16. > :01:17.going to be reforms to pensions, tax`free childcare, and shale gas
:01:18. > :01:30.exploration in the coalition's last Queen's Speech.
:01:31. > :01:36.We are going to start with the Financial Times. RBS capping
:01:37. > :01:42.mortgages amid London fears. RBS is owned by you and me. And, Lloyds.
:01:43. > :01:50.That is the other bank that has joined RBS in capping... There is
:01:51. > :01:54.the massively overheating housing market in London. Today's figures
:01:55. > :02:05.show that house prices grew at a rate of 11% annually. That his
:02:06. > :02:15.record prices of housing in London. Two banks, partly state`owned, will
:02:16. > :02:19.now cut mortgages. ``. RBS are going to restrict customers to a maximum
:02:20. > :02:24.of four times their income of half ?1 million or more and they will
:02:25. > :02:32.restrict the length of time people can take mortgages. Why? We saw this
:02:33. > :02:36.from the European Commission about the UK housing market and about the
:02:37. > :02:41.property bubble, suggesting to the chancellor he may want to rethink
:02:42. > :02:44.his help to buy scheme which is designed to help first`time buyers
:02:45. > :02:50.onto the latter by the government backing deposits for them. It is
:02:51. > :02:56.also against the backdrop of Marconi at the Bank of England, and whether
:02:57. > :03:09.or not he needs to step in `` Mark Carney. V Help`to`Buy scheme which
:03:10. > :03:15.was accelerated at the last party conference to fanfare is a key
:03:16. > :03:20.policy for them going into the election `` the Help`to`Buy. The
:03:21. > :03:23.government will be concerned by suggestions that they are
:03:24. > :03:29.facilitating a housing bubble and all the ramifications of that for
:03:30. > :03:32.the economy. Will it be enough? You need them nationwide. You need
:03:33. > :03:39.Chelsea and all of the others to get on board with this kind of policy.
:03:40. > :03:44.You do and you don't. If the Bank of England starts sending signals to
:03:45. > :03:47.the European Commission, no one wants to be seen to be responsible
:03:48. > :03:53.for the next housing crash. Therefore, there will be banks
:03:54. > :03:58.leading by example and others falling behind. This is a back to
:03:59. > :04:02.the future feel. It is the same situation in the middle of the last
:04:03. > :04:06.decade. Just before the crash, we said never again. Now we have this
:04:07. > :04:18.classic thing. Supply hasn't improved and we are all equally
:04:19. > :04:23.guilty of their not being any equivalent anywhere in the world for
:04:24. > :04:28.our obsession with property. It is the ultimate Berlin the eighth of
:04:29. > :04:34.how you have done in your life. `` deliniator. In countries like
:04:35. > :04:44.Germany, we think it is a tragedy... Within the Westminster
:04:45. > :04:47.chatter, at the time that the Help`to`Buy scheme was launched,
:04:48. > :04:53.there was talk that what Osborne and Cameron wanted to do was have a mini
:04:54. > :04:59.housing boom before the election. It makes homeowners feel good. You are
:05:00. > :05:06.thinking, I am sitting here and my house is appreciating. By ?500 per
:05:07. > :05:10.day or whatever. You have to remember that is the constituency
:05:11. > :05:15.that votes in elections. Help`to`Buy isn't part of that. The figures
:05:16. > :05:21.released suggested that it is such a small proportion of the housing
:05:22. > :05:24.market at the moment. The housing market is a chain. If there aren't
:05:25. > :05:28.people coming in at the bottom to buy the lower price stock, people
:05:29. > :05:33.can't trade up. You need the chain to be working. That means people
:05:34. > :05:36.have to be getting in. If house prices are going away from what most
:05:37. > :05:47.people can afford, then you help them out. Chain, nationwide isn't
:05:48. > :05:50.working. The undersupply is a London and south`east London phenomenon and
:05:51. > :05:56.also the sense of people sitting there, on their hands doing nothing,
:05:57. > :06:00.seeing the pounds rolling in everyday as a result of their
:06:01. > :06:07.property. The government have gone to great lengths to stress that the
:06:08. > :06:11.Help`to`Buy scheme isn't primarily benefiting people from London, but
:06:12. > :06:17.people around the country. I will be interested to see whether they do
:06:18. > :06:20.tweak the system. They need to restrict it to mortgage lender
:06:21. > :06:26.outside London because they might want to take a bit of control but
:06:27. > :06:31.for this gets... (CROSSTALK) one on the electoral cycle. You can bet
:06:32. > :06:35.your bottom dollar that whoever comes in in a year's time, they will
:06:36. > :06:46.be amenable to putting the squeeze on things. Tightening things up.
:06:47. > :06:53.Onto the Daily Telegraph. Zombie government. Claims are dismissed
:06:54. > :07:02.about the coalition running out of steam. Announcements that people
:07:03. > :07:05.don't have to take out annuities. Everyone can drive the Lamborghini
:07:06. > :07:08.announcement at the last budget. In other words, you can splash all of
:07:09. > :07:15.the case that you saved up immediately. The counter argument is
:07:16. > :07:19.that you need to trust in the public and the public knows if they have
:07:20. > :07:28.spent 30 years or more are saving into a pension that they only have
:07:29. > :07:33.one chance to use it. That is a argument we know about. One year
:07:34. > :07:38.before the election, both parties will have to split away and define
:07:39. > :07:45.themselves. It is about the election now. The fascination about all of
:07:46. > :07:56.this is that this is a fixed term parliaments. `` Parliament. Both
:07:57. > :07:58.parties are conducting a very choreographed dance, except when
:07:59. > :08:10.they step on each other's toes, which they do at reasonable
:08:11. > :08:16.intervals, around co`sharing the record, which they have set in the
:08:17. > :08:24.preface, then distancing themselves before the election. It will be
:08:25. > :08:27.messy. It is great. Cameron and Clegg loving. For years on, the
:08:28. > :08:33.government are governing together, taking bold steps. The rhetoric does
:08:34. > :08:38.not match the reality. The Queen's Speech is a series of announcements
:08:39. > :08:45.they have already announced. A serious `` series of legislative
:08:46. > :08:52.changes that have already been announced. The shale gas is new. I
:08:53. > :08:58.don't think there will be a massive intake of breath tomorrow. As you
:08:59. > :09:05.said, the reality is they will have to spend the next nine months
:09:06. > :09:10.differentiating themselves. Any radical ideas will come in the
:09:11. > :09:25.manifestoes. It is all not trying to push through new laws GCSEs and a
:09:26. > :09:29.levels are to be abolished. The story is about the watchdog,
:09:30. > :09:40.publishing a list of unusual courses. What are we talking about?
:09:41. > :09:44.It says performing arts. I was wondering if that is what is
:09:45. > :09:50.commonly referred to and young people study now, drama, or
:09:51. > :09:57.something different. A lot of drama courses are very good. Media
:09:58. > :10:04.studies? Environmental studies, applied science, is on the list. My
:10:05. > :10:10.argument is that along with the absolute vital emphasis on the
:10:11. > :10:23.basics, literacy and numerous sea, or, the three Are as, the creative
:10:24. > :10:30.industries is the strength `` three Rs. That is the growth areas. That
:10:31. > :10:40.is where the employment boom is based `` numeracy. If you sacrifice
:10:41. > :10:46.the best bits, we lose the unique selling point. The reality for
:10:47. > :10:55.students now, when they are facing ?9,000 of tuition fees per year,
:10:56. > :11:00.they need a job. You are right, the creative industries is huge. Things
:11:01. > :11:07.like design! Architecture. It is as strong as English or history. I
:11:08. > :11:15.sympathise with young people, who I don't count myself among, they must
:11:16. > :11:20.be looking at ?27,000 in fees. You are going to want to be an engineer
:11:21. > :11:24.or get into the Russell group of universities to get as much
:11:25. > :11:30.leveraging can to get a job. It is tough. That is why this thing is
:11:31. > :11:36.called Stem subjects. The idea is to change it to steam subjects,
:11:37. > :11:49.science, technology, art and maths. OK. The i, top right, a picture they
:11:50. > :11:57.are. Incredibly iconic `` there. A photo of Tiananmen Square. The
:11:58. > :12:01.Communist Party attempt to bring a measure of democracy in then. The
:12:02. > :12:09.people campaigning on the streets, certainly. It is still entrenched,
:12:10. > :12:14.even more than it was then. This is probably the most significant moment
:12:15. > :12:18.in China's modern history. It was the moment which the dark side of
:12:19. > :12:26.the Communist Party, the world spotlight was on it. I would argue
:12:27. > :12:34.that it actually ushered in a period of capital and capitalist reform.
:12:35. > :12:37.The Chinese population are still very constrained by the government.
:12:38. > :12:45.I read something in the FT about students being allowed to go to the
:12:46. > :12:48.internet for 60 hours per month. They must sign in with a password
:12:49. > :13:00.when they use the intranet so that they can track them. The two track
:13:01. > :13:02.process of political control and economic liberalisation has
:13:03. > :13:08.transformed the lives of Chinese people. Though I am sure there must
:13:09. > :13:14.be many who live there and who would like the economic liberalisation to
:13:15. > :13:18.move into the political sphere. Given the size of the country, that
:13:19. > :13:23.increase in wealth has only affected a small percentage. There are
:13:24. > :13:30.thousands of demonstrations in the countryside every single day. I
:13:31. > :13:34.remember when I was based in Berlin when the Wall came down and when
:13:35. > :13:43.communism ended in Russia. I wasn't in China. There is the assumption in
:13:44. > :13:47.the West that you introduced Dunn introduce capitalism and get rid of
:13:48. > :13:51.authoritarianism. The idea that free markets and free societies go
:13:52. > :13:55.together. 25 years in the past has proven the opposite. The Chinese
:13:56. > :14:03.model proves that you can buy people off. The big thing, as long as, you
:14:04. > :14:13.have the growth rates that continue to be sustained. Where you see the
:14:14. > :14:17.`` protests in China, where people are worried they are getting paid
:14:18. > :14:24.enough, you have a swathe of middle`class Chinese who have lots
:14:25. > :14:31.of disposable income. Which we finally, the Guardian. `` which we
:14:32. > :14:38.want them to spend here. D`Day commemorations. As we go rummaging
:14:39. > :14:45.for the Guardian. They call them the greatest generation. Some of these
:14:46. > :14:53.men who tried to reclaim Europe and were successful. Amazing portraits
:14:54. > :15:02.of these old men. I wonder how many are left. These guys are in their
:15:03. > :15:09.90s. It has been a funny one. The commemorations for the First World
:15:10. > :15:15.War, sorry, the Second World War. How much do you celebrate it? And,
:15:16. > :15:20.how much do you mark the occasion, but not celebrate because of the
:15:21. > :15:26.huge amounts of losses? Loss of life. It is important for younger
:15:27. > :15:33.people who don't remember this, while they are still around, it is
:15:34. > :15:37.still living history. It has become almost, like the First World War,
:15:38. > :15:43.not forgotten history but, definitely in the history books,
:15:44. > :15:49.whereas this is live still. Lee that is the correct point. If you think
:15:50. > :15:53.at the commemoration at the start of the First World War and compare this
:15:54. > :15:56.to the 70th anniversary of the D`Day commemorations, there is a
:15:57. > :16:01.difference in terms of whether it is a piece of history. All, whether it
:16:02. > :16:07.is a lived experience. The analysis of the First World War is changing
:16:08. > :16:13.as a result of that. Don't they look great? It is a great picture. We
:16:14. > :16:22.have to come to an end. Many thanks. Enjoy your holiday. I hope
:16:23. > :16:30.you come back ground. Just for four days I will have you no. Stay now,
:16:31. > :16:32.it is time for Sportsday. `` stay with us on BBC News.