21/07/2014 The Papers


21/07/2014

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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Transcript


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Gerrard will quit international football. That is all coming up in

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15 minutes. Hello and welcome to our look ahead

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to what the papers will be bringing us tomorrow. With me are the

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political commentator Miranda Green and Tom Bergin, Business

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Correspondent at Reuters. Tomorrow's front pages, starting with... The

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Financial Times leads with the story of the Tesco Chief Executive going `

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'Chief Ousted as Tesco bows to city' is their headline. Some of the

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papers pick up on David Cameron's comments on the Maylasian Airlines

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crash. The Times has 'stop selling warships to Russia', PM tells

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France. While The Daily Telegraph quotes the Prime Minister as saying

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it's time to punish Putin. The Sun says the UK is ready to freeze the

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assets of various Russian Oligarchs ` their headline is 'crony war.' The

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Independent has a close`up picture of the singer and former X Factor

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judge Tulisa Contostavalos, after her trial on drugs charges

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collapsed. Tulisa's story is also on the front page of the Metro. The

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Daily Mail features a new official picture of Prince George, who's

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celebrating his first birthday. And the Guardian leads with a story

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about female genital mutilation, their headline, 'Parents who allow

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FGM will be prosecuted.' So let's begin... We will focus on some of

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those stories, starting with the front page of the Sun. The headline

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is crony war. Absolutely. The focus has moved on how best to express

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international outrage to Russia and to President Putin over the downing

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of the Malaysian jet type Pro brush and rebels in Ukraine `` pro`

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Russian rebels. The Sun has decided to go with the most recognisable

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Russians who are either residents in the UK or an incredibly high`profile

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assets in the UK for example, Chelsea football club and the

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suggestion is that the government in this country will get tough on Putin

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by targeting individuals who are known to have close links to him

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including the owner of that football club and another who has a

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significant stake in Arsenal. One of them owns a dot on which George

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Osborne was hobnobbing `` yacht. They are all in the Putin Circle in

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some way and all will be targeted. The other papers explain that there

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are different levels of sanctions which makes it problematic and

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Britain is trying to convince other countries in Europe to go up to

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level three which doesn't include the targeting of the cronies so it

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is a little unclear whether these individuals who are so famous in the

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UK will really be targeted immediately. I suppose there is a

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doubt as to whether if you target a crony, a very wealthy crony, does it

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make a tremendous deal of difference to Vladimir Putin? Possibly not but

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everyone has already decided that targeted sanctions are not working

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and that we need to move beyond that. If we really wanted to use big

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levers, we need to look at big companies and transactions. What we

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haven't seen is, what are these issues that people can bring to the

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table and contribute? If this is the best of the UK can offer, to say

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that we will put pressure on these people, I am not sure how good it

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will be. For the UK, the big issue is the city, there is big financial

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exposure here and it is where Russian companies come to raise

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funds. If the UK did make it more difficult for Russia to take

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advantage of the capital market through London, of course other

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countries and developing nations who also raise funds to Britain might

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not find Britain to be the place they want to do business anymore.

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Putting in sanctions of that nature are slightly problematic for those

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reasons `` is. It might do more damage to the UK then to these

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individuals. The Times, you mentioned level three. That is

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mentioned here. It focuses on what the Prime Minister has said to the

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French about the warships deal. Many of the papers are taking the David

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Cameron line. In the House of Commons, he said that he would love

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to get tougher on Putin but he just can't persuade the Germans and the

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French to be as tough as they would like them to be. The French have an

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order which they are determined to for fill for warships that they want

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to deliver to Russia and David Cameron has picked on them to say,

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in our country, it would be unthinkable to do this. Fulfil. ``

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ffulfill. I do think this is slightly theatrical given that the

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city of London has so much to lose from any sort of serious sanctions.

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This would put sanctions on Gazprom which would damage the city of

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London through financial and economic means. We have large shares

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in many Russian companies but it is quite indirect how we're related. If

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you are a French person, I can see how you would not want to kill that

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order as it is worth millions of euros and I think it possibly will

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not be moved by what has been said. It is not in any way equivalent to

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the loss that the French would suffer, what is happening here. The

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issue is coming what is the best way to behave to get cooperation on the

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ground. That is what is wanted by the relatives of those who were

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killed in the downing of the jet. Many are waiting to see what the

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Netherlands have to say as many Dutch people were killed when the

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plane crashed Earth. Some are saying that access to the site, trying to

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get those bodies back, all of that depends not on coming down too hard

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on the Russians but on the letting things play out a bit more. It is a

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tactical decision to go soft and get as much access as possible right

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now. Although in theory, that UN Security Council resolution should

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help but it is about happening in practice rather than theoretically.

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You have to have a look at the track record of going soft on Vladimir

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Putin not being very successful. This is the front page of the

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Telegraph. George Osborne to slash a tax on pension funds. This with a

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strange one. I wasn't sure what the threat could be. It turns out is a

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bit more obligated than I had thought `` complicated. If you died,

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and your income was not taxed,. Now will be `` that now will be payable

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to your heirs but in a reduced capacity. One of the reasons it was

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changed was due to concerns of tax avoidance but the larger story that

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this is part of is that George Osborne has led the biggest change

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in pension taxation in a generation and has said that, you no longer

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have to use a pension nest egg that we have helped you build up by not

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taxing you so hard, you can go and spend it on what you like rather

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than in an annuity. The other question is, will people invest

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wisely or become victims of snake oil salesman? That is the accusation

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he has to face. I also can't help noticing that there is an election

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coming up. The Telegraph is saying that this very technical change was

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announced in his autumn statement and that will be in the lead up to

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his final budget before the 20 15th of May general election and this is

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very much core Tory territory. Inheritance tax and whether you make

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it easier for people to pass on at DeMolay did well to their heirs ``

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accumulated wealth. As technical as this change is coming they will be

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delighted because what better place to advertise? We will stay with the

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front of the Telegraph. What to get for a Prince who has everything?

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Many of the papers are using these delightful pictures which were used

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to celebrate the first birthday of Prince George. This little story

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accompanying the picture in the telegraph reveals that since he has

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been born in just one year, he has received 4000 gifts from all around

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the world, 48 countries. Most parents feel that way with the

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conglomeration of plastic toys in one's house but he actually have

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it! They are rather extravagant. His parents, William and Kate have

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decided that he should not be showered with any more gifts on his

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birthday and I think this will resonate with a loss of parents

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because I certainly find that on a child's birthday, you receive an

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embarrassing amount of generosity from Ben's and family `` friends and

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family. The child gets overwhelmed. We tend to just put them in a

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cupboard and pretend they never arrived in the house. I'm not quite

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sure what they will do with the excess gifts. He has a fattened

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calf. Where will they put that? Environmental concerns begin to

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overwhelm me when I see the amount of gifts that come into the house

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and we ration them as well but it is a wonderful picture. It is

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apparently this display of butterflies at the natural ``

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National History Museum. Now to Scotland for the start of the

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Commonwealth Games. I have not been up to speed on it. I

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didn't realise that Scotland played separately. It could be a wonderful

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thing to bring the United Kingdom together, but obviously not. I do

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wonder about the relevance of the Commonwealth Games. Sport is highly

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commercial. I am not sure how excited sponsors are about this. I

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am intrigued as to how it will compare with the London 2012 games.

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That was such a boost for the winners in Team GB. Those of us who

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would like the UK to stay together, I hope it won't lead to a boost for

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Alex Salmond, and his campaign. That is all we have time for. Stay with

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us and we will have the latest on the United Nations requiring full

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access to the site of the crash of MH17. Coming up next, it is time for

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Sportsday.

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