28/07/2014 The Papers

the third test against India. Details on the day's play in

Southampton. That is on sports day in 15 minutes after the papers.

Welcome to our look ahead at what the papers will bring us tomorrow.

With me other columnist and pensions analyst and government new appointed

older workers Champion Ros Altmann and Mihir Bose from the London

Evening Standard. Welcome to you both. We will get their views on the

front pages in a few moments time but let's see what we have in.

Property prices grab a headline on the Metro. The paper once almost a

quarter of young adults in London are now priced out of the market and

are forced to live at home. The express front page reveals that

benefits for migrants are to be cut under new government proposals. The

paper also has a picture of some of this morning's flash floods. The

Guardian has more on the Ukraine crisis with the US and Europe lining

up further sanctions against Russia. Tomorrow's Telegraph has the same

benefits story as the express, but also features a large photo of the

Duke and Duchess of Cambridge watching the action at the

Commonwealth Games in Glasgow. The Commonwealth Games in Glasgow. 's

fines for Lloyds Banking Group in bank rates, as does the Daily Mail

with the headline "throw crooked bankers in jail." Let's begin. Do

you want to kick off, Roz, because we are kicking off with the Metro's

front page. The headline says younger people are finding it hard

to buy a property and in London as well as prices have gone up so much

and rents have gone up they end up living at home rather than spending

money on rent. And about a quarter of those aged 25 and 34 living at

home. It's not such a terrible thing for some and some parents would

quite welcome it. It is not what these young people would have

expected, though, and that's the problem. The expectation would be

that you would leave university, get a job, start earning money, get a

mortgage and buy a house or a flat and that's simply not possible. In

London property prices have gone crazy, the rents have been dragged

up. It is a particularly London problem. It is worse in London, I

suppose. Property prices are really expensive. 34 is quite an age, do

you think, Mihir Bose? In a way you could say it is bringing back family

values. But seriously I think this might be the occasion to look at why

does everybody need to own a house or a home? They don't in other

countries. They don't in Germany and they don't in France. In Spain

people stayed together a lot longer before they leave home. We need to

look at whether we all need to own homes. This idea to a certain extent

in the past people have treated their property as a tradable asset

which they should not do. This finds they cannot even afford the rent

either. In London if you can get on the housing ladder you are actually

paying less with a mortgage than you are with rent and that is a most

unusual situation. So, I think there are a lot of things going on here.

But certainly the low interest rate environment and the changes going on

in the property price bubble that I think we have got in the South is

causing some social issues as well. Like you say, maybe it's not a

terrible thing for families together. Both of you finding the

positives in keeping the family units together for a little longer.

Let's move on because we will talk about that later. This is the front

page of the Guardian, Mihir Bose. More sanctions against Russia as we

have been hearing about throughout the day and they should be announced

tomorrow. We have to see whether the sanctions actually bite. There has

been a big difference between the US sanctions and the European

sanctions. The Germans have not been very keen before this latest crisis

to do anything, and how far even the UK will go. There has been talk that

oligarchs close to Putin might be shackled and things like that but

whether the UK would want to go as far as to affect the city and things

like that, will Chelsea be affected for instance? How far will they go?

Will it be hurting us or them? Putin says it will hurt them much more

than it will hurt us. There are Foreign Minister apparently is

saying it would be quite good for Russia just to stand firm on its own

two feet, we don't need to be too concerned about it. I guess they

would say that, wouldn't they? But certainly George Osborne last week

was talking about preparing us for bearing the cost, if we do have

sanctions against Russia, because it could come back and affect us

economic to ourselves. It doesn't help when the Deputy Prime Minister

says Russia should lose the 2018 World Cup. In some ways those are

irresponsible statements. The sanctions have to be bite and be

real sanctions, not about World Cups and things like that. They have the

hurt Russia. So that Putin's behaviour changes. Not make

statements that have no impact whatsoever. We will talk later about

a mix of sport and politics is another story making tomorrow's

front pages along that vein as well. Let's move along because we will

have a quick look at the front page of the Financial Times. Rosol the

man, this is something we were discussing outside. Really?

Bankers? Will it ever end? Lots of papers are covering this story ``

Ros Altmann. They got into this because of all of these financial

things that people didn't understand and bankers behaving badly. In order

to get us out of the mess we have had to put billions out of this ``

into this mess and it seems like many of the people working in the

banks have decided it is business as usual. If we want to read some rates

we will do it. Just to be clear this is the rate they were paying us back

for our help. That was one of them. There were a series of interest

rates that seem to have been manipulated from within our banks.

The finds that have been levied have been done so in order to punish the

bankers but also to reimburse the Bank of England for having lent too

much. The banks have actually short`changed the Bank of England.

Now, the concept of that is just so fundamental. Now complete the

circle, they have short`changed the Bank of England and the regulators

have find Lloyds bank which is still owned by the taxpayer so we get hit

again by the finds. It also raises the question that when this happened

there was a lot of talk that the banks had not been properly

regulated and had to be saved in order to save the wider economy but

what was done about the regulation at the time? We put the money into

the banks and the regulators did not do enough at that stage to check

that the banks were working properly. The bankers thought we are

owned by somebody else but we will carry on by our own practices. The

rates were set on the basis of trust. The trust should not have

applied given the way the banks had behaved before that. That seems to

be absolutely the case but it is a sad indictment of the banking

industry if the official rates that everybody's money depends on ` let's

face it you and I, who might have an interest account or trade in the

markets, we depend on these interest rates for our own money. There is a

lovely e`mail here that one of the traders said, every little helps is,

it is like Tesco. The casualness of it all. It is amazing. We are

talking about huge sums of money. In terms of what was meant by that, not

comparing Tesco to any of the bankers, but any little helps. Let's

be clear, that was a slogan of Tesco to sell their products but it is the

casualness of their conversation, no sense of responsibility. These tiny

changes in rates mean millions of pounds to individual trainers. In

terms of what Mark Carney said he said it is highly reprehensible.

Other paper said it might have been unlawful. `` traders will stop this

is theft. You have the ability to rig the rate for your own personal

gain. That is illegal, it is immoral, and yet it has been going

on inside our biggest banks. As you said, we own a quarter of Lloyds and

the distal happening. Let's move on because we have spoken enough about

those bankers for this evening. The front page of the express tomorrow.

The picture there of today's floods, it is amazing the weather we have

had, hot and dry and then suddenly if you live in the south`east of

England if not you might not have seen any of this. It is Hove and it

feels like there has been some snow. It is hail. It looks like it is a

picture that has come from North America somewhere. Or November! Left

July and when the November. Pretty rotten day. It was quite scary. Some

businesses have been badly affected. The other story on the

front page of the express is the benefit cuts for migrants. This has

been an ongoing story for some time, how are we going to stop people

coming here to claim benefits? That is going to be cut back, slashed in

half. At the moment they can claim up to six months, but they will only

be able to claim up to three months the Prime Minister will announce.

These are people coming from the EU, job`seekers, child benefit and

housing benefit will be restricted. David Cameron says he wants the open

door policy that was introduced to be dissipated now and Britain will

become one of the toughest countries to migrate to. We will see what

happens actually at the end of the day. I think a lot of the papers are

supporting this move. We've had a lot of contradictory analysis and

statistics as to whether EU migrants are really coming to claim

benefits. How serious do you think this is as a proposal bearing in

mind we have a general election around the corner? It is a political

gambit as you say in the sense that if the Conservatives win we will

have a renegotiation of Britain's status in the EU. This is a starting

point if you like. We are going to redraw the map again, and make sure

that we claim some rights back. And obviously Cameron wants to be in the

position where he says he is not soft on what is happening with

Europe. They have the Ukip threat they want to deal with. I think most

migrants or immigrants who want to come into this country actually come

to work. It is the minority that come and claim benefits. But of

course, announcing the policy, whether or not it affects that many

people, is the political side. We have more on that later because I

just want to move on to the final story the front page of the Daily

Telegraph. Talk us through this one. Moeen Ali, who is the only Muslim in

the endless cricket team was seen today wearing a wristband saying

save Gaza and free Palestine. The ICC, which is the controlling body,

has said that these are political slogans that should not be used.

This is the thing that all sporting authority says poor should not be

used like this. ECB which controls cricket in this country has defended

him and said this is nothing. What is your view because you said it was

helpful Nick Clegg came out and talked about Russia and the 2018

World Cup talked about Russia and the 2018

exposure. You have to be careful. `` These events get exposure. I do not

know why he has done this part of the people could be reading these

things. You are opening the door to the death situation. The current

system, where we elite and politics, it is the correct one. We want to

have sport as sport. No outside issues. Also, it can damage

relationships. Thank you. Stay with us on BBC News. At 11 o'clock, the

violence continues but, the sport news.