11/02/2016 The Papers


11/02/2016

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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ban them from their Olympics. Adam Johnson has been sacked by

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Sunderland after pleading guilty to child sex offenders. And we will let

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you know who is in and who is out from the weekend's Six Nations

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clashes. Hello and welcome to

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our look ahead to what the papers With me are the broadcaster Penny

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Smith, and the Telegraph's economics Junior doctors are poised to leave

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England to practise abroad rather than sign up to new contracts,

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that's the Daily Mail's lead. The Guardian says junior doctors

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will fight on in their dispute with the Health

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Secretary Jeremy Hunt, despite the The Metro has a helpful suggestion

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for Google executive Matt Brittin, who told a parliamentary committee

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he didn't know how much he earned, The Financial Times leads with what

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it describes as turmoil The migrant crisis is

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on the front page of the Times. The paper says Turkey has warned

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it will open the gates and let The Telegraph warns David Cameron

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that he could risk a Tory split if he ignores party members over

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Europe. And galaxies far, far away are

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on the front of the Independent. It's the news that Einstein's

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theory of gravitational waves Let's begin with the Guardian and

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the Mail, and how they are reporting the decision by Jeremy Hunt to

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oppose this new contract. Doctors vow to fight on, the BMA says all

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options are still open, including further strikes a pillow the news is

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that Jeremy Hunt has decided to impose a new contract on 45,000

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junior doctors in England that will make Saturday part of their core

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roster. This is a Tory manifesto. The doctors are calling it

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horrific, we have seen two months of negotiation, to strikes, several

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cancelled. Now, the doctors' union are talking about a further stroke,

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an all-out strike, including emergency care. The Guardian reports

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it quite sympathetically, as you would imagine. The Mail focuses on

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the fact that it cost the NHS ?350,000 to train a junior doctor

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and if they threaten to go elsewhere maybe they should pay some of that

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money back. As you mentioned, they are saying that they don't know what

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they are going to be doing next. But there are suggestions that there

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could be an all-out strike. But that would also mean that there would no

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doubt be a lessening of public support. That is something that I

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think would definitely be something of a last resort. You do wonder. I

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know they were saying it was a pledge, it was in the manifesto.

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Nevertheless, if there is not enough stretch already then where is it

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going to come from? How can you make... If there aren't enough

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people in the first place you can't cover their shifts. If you talk

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about the number of operations that have been cancelled, and each one of

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those wobbly somebody who is in pain. 6000, they say. There are

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doctors who have been on social media saying, look at all the

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thousands who were cancelled last year because there weren't enough

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people to in the first place. Eventually, the people who don't

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want to work in the system will go elsewhere, and the new people coming

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through will never have known any different and they will be prepared

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to sign up to this it they want to be a doctor. I think that is what

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ministers hope, but if he BMA feels it has no choice, that they have

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been back into a corner, which many people think circumvents the

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Hippocratic oath... Yes, eventually that is what happens, but that takes

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time. In the meantime you have people using the NHS will find it

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difficult. We have mentioned the Daily Mail. Doctors might not choose

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to train here any more. They might go somewhere else. Yes, they could

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go anywhere, they don't have to. Look at the Independent. One of

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these beautiful pictures stories. . That looks like a brown plughole. In

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a pretty way. Can we just say what it is? Two black holes are crashing

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together and creating so much energy that it eclipses all the energy of

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all the stars elsewhere. 1.5 billion light years away. It is like the

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warp factor ten in the USS enterprise. These gravitational

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waves were felt in America, where in the US they have these huge

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great... They have these whopping great hoses with four kilometres of

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it. They were able to hear this chirp, chirp, from deep space. Don't

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you find this exciting? They are saying it is completely new and it

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gives a whole new... 100 years ago Einstein was saying this. I just

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don't really understand this story. I have read many versions of it and

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I wonder if anybody writing about it in the papers actually understands

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it. I think Penny has done an excellent job explaining it. There

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is a bit here that I have been... These instruments confirm the effect

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of real gravitational waves, rather than a local disturbance. I like the

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idea that it is ripples in the fabric of space-time. That is when I

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start to not really understand it. We don't really need to, but we can

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say it is brilliant and understanding. I am not a tax

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expert, says the tax chief. There was a hearing today of the Commons

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Public Accounts Committee chaired by Meg Hillier, and there was some

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beating up of the head of Google when he didn't know precisely what

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he made, and Dame Lin Homer was also there, defending the ?130 million

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tax deal with Google, saying she was confident that all the tax had been

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paid. But she did say that she didn't sit on a lot of the

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committees when the deals were struck. She said she wasn't a tax

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expert. You don't have to be a tax expert to run a department, do you?

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The person who runs a newspaper might not be an expert. You would

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hope they would be a journalist. As you go further up the chain of

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command you might be in the trenches less, so your knowledge would become

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out of date, but if you are ahead running a school you would hope that

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the headmaster or headmistress had a lot of experience of teaching and

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had been a good teacher in their time. Why don't they just set the

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tax level at 10%, and make everybody Payet? If everybody said 10%. All of

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us? Everybody pay 10%. George Osborne was a big fan of flat taxes.

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You have a bar that is set at a certain number of thousands per

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year... There is a lot of economic literature that stands up that

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theory. The flat tax brings in more revenue. Why are you denigrating the

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BBC News channel? I'm not, I love it, that is why I am here. When you

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think about Google having paid 0.5%, if it paid 10%, think about that.

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Surely they are always going to try... If you say flat tax... If you

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are not evading tax you are not necessarily breaking any laws. You

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are not, demonstrably you are not breaking the law. In Google's

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defence, shoot me down if you want, but if you are the CEO of a company

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it is illegal obligation to minimise your tax bill for your shareholders.

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The problem is that tax law is so complex, there are so many

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loopholes, that companies will always do that. Is 10% level... I

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just made that up. You think that is a flat rate to generate the same

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amount of tax? Somewhere between 15 and 20%. With fewer allowances. But

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want people still try to be below that? If you put tax on things like

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land and things that can't be hidden offshore, it is easier to get a

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higher level of compliance. If anyone wants to ring me up and talk

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to me about it, I am available. I'm all over it. Space exploration, tax

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returns... Turkey threatens Europe with millions of migrants, tensions

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mount, we are not idiots, says Recep Tayyip Erdogan. You can criticise

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him, the firebrand President of Turkey, but what is going on in

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Turkey is really quite astonishing. It is now holding 3 million

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refugees, 2.5 million from Syria, more fleeing President Assad in

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Syria all the time. He's complaining that Turkey is being taken are

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granted. They were supposed to get 3 billion euros, weren't they? We can

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say goodbye to refugees on our soil, threatening to let them leave. What

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more does he want? I think he wants money and geopolitical recognition.

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Fast tracking into the EU? Public opinion in Turkey is quite split on

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whether they want to be part of the EU. Consider how many people visa. 3

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million refugees, including 2.5 million from Syria. That is a lot of

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people, and people who will want to go back to Syria. He is really

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picking his moment, because this upcoming summit is coming. A lot of

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people will be frightened about whether we can still have the

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Schengen agreement if all these people are coming into Turkey. VFT,

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a day of turmoil as global markets are struck -- the Financial Times. I

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know all about that yellow line, I did A-level economics. For a lot of

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people this is about pensions. It is about their pension pots. Of course,

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a lot of us have indirect holdings in stock markets through pensions

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and insurance policies, but at the moment there is so much pressure,

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with the first week in January being the worst opening of the year since

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before the First World War. There is so much turmoil that the markets are

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in danger of creating the economic slowdown that they are trying to...

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Bears could wander in from the woods. It is now officially a bear

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market. The FTSE is down 20% from its peak. That is the definition of

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a bear market. What also happened today is the interest rates went

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further into negative territory. Central banks are trying to force

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commercial banks to take their money out of the central bank and lending

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it out by penalising them to keeping them in the central bank. I think

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Black holes are easier to understand. I think so too. With the

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idea of our interest rates going up any time soon, that has gone? Yes,

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that is worth saying. Mark Carney with his forward guidance, Janet

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Yellen from the US central bank, they are saying they are going to

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put interest rates up because they want to convey the idea that we are

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in normal economic territory and interest rates can start getting

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back to what we were used to. But the moment central bankers start

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talking about putting up interest rates the markets have a tantrum.

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Janet Yellen can now not put interest rates up. What would you

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do? What ... I would not have printed money to the extent we have

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and I would have started raising interest rates a long time ago. I

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would bring in a flat tax rate, all sorted. Yes, it is all sorted. Tom,

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what are you saying in my ear? You would have caused a depression. No!

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This cartoon, your pension fund felt so dramatically that scientists were

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able to detect gravitational waves. Peter hall says Penny Smith is...

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The moon was very nice on the way in this morning. It is all over,

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hallelujah. Coming up next, Sportsday.

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