:00:00. > :00:00.match streak? And a true story of grit and talent as this horse
:00:00. > :00:00.gallops back to victory at Cheltenham, three years after a
:00:07. > :00:13.heart problem threatened to put an end to his career.
:00:14. > :00:16.Hello and welcome to our look ahead to what the the papers will be
:00:17. > :00:20.With me are Isabel Hardman, assistant editor of the Spectator,
:00:21. > :00:26.and Ben Chu, economics editor of the Independent.
:00:27. > :00:34.The FT says that George Osborne attempted to sweeten bleak economic
:00:35. > :00:40.is the Daily Telegraph's take, as it reports that Britain
:00:41. > :00:43.will become one of the first countries in the world to introduce
:00:44. > :00:49.The Independent says that the tax did not hide the ?55 billion hole
:00:50. > :00:56.The i reports that Jeremy Corbyn lashed out at "six years of failures
:00:57. > :01:01.and unfairness" in his budget response.
:01:02. > :01:08.The Daily Express says there was outrage from Brexit
:01:09. > :01:12.campaigners over what it calls a "pro-EU budget".
:01:13. > :01:15.The sugar tax formed part of a budget that raided big business
:01:16. > :01:18.to fund giveaways for middle-class workers and savers,
:01:19. > :01:37.The Daily Mail cause the budget, Georges awesome gamble.
:01:38. > :01:44.Let's have a look at the Independent's front. What do you
:01:45. > :01:52.think of the image reflected here? Ben, it is your paper. There is a
:01:53. > :01:55.big metaphor failure in these papers today, as they are always talking
:01:56. > :02:02.about sugaring the pill, but in fact what he has done is taking away the
:02:03. > :02:07.sugar. It's because of the taxis put on sugary drinks. This has become
:02:08. > :02:12.the rabbit in the hat somehow, the idea that it will be more expensive
:02:13. > :02:16.to buy sugary drinks, and that people will drink less and it will
:02:17. > :02:21.help the Obita T crisis. I would not have put money on the idea that this
:02:22. > :02:27.would be a great attractive element of the budget. But it has become the
:02:28. > :02:31.image. It seems to be quite popular, at least if the people who put
:02:32. > :02:39.together newspaper front pages are any judge of the public mood. It is
:02:40. > :02:43.a tactic to revise from downward revised growth forecasts. The
:02:44. > :02:50.Independent front page says there's a ?55 billion front -- black hole in
:02:51. > :02:55.the budget. We are one of the first countries in the world to have this
:02:56. > :03:01.sugar tax, and it was thought it would be controversial with the Tory
:03:02. > :03:06.party. It pushes all of those difficult to explain stories of the
:03:07. > :03:12.front pages, and we get these lovely images instead. It will only bring
:03:13. > :03:17.in ?500 million a year, so in the context of big downgrade in growth
:03:18. > :03:23.and tax revenues, it's not that significant. It's more of a talking
:03:24. > :03:28.point. And it is only that figure if people carry on buying sugary
:03:29. > :03:33.drinks. That's right. In the year after 2020, it goes down a bit in
:03:34. > :03:38.revenue, because it assumes there will be a behavioural response. You
:03:39. > :03:41.mentioned the black hole. The figure on the front of the Independent is
:03:42. > :03:46.significantly bigger than we heard in the Autumn Statement a few months
:03:47. > :03:50.ago. One of the curious things about this budget is that the Chancellor
:03:51. > :03:55.has been warning he will have to make further cuts and it will be
:03:56. > :04:01.terribly painful, and in his speech it was only a paragraph that he
:04:02. > :04:03.mentioned the cuts. Then he moved on to things like infrastructure
:04:04. > :04:11.spending that everyone could agree with. It will was a very political
:04:12. > :04:17.budget, and an intentionally boring budget, because I thinks he wants us
:04:18. > :04:21.to get talking about the EU referendum again. Speaking of which,
:04:22. > :04:28.let's have a look at the Telegraph's takes. Obviously, you have the main
:04:29. > :04:35.coverage, Osborne sugar is the pill, but beneath that, and interesting
:04:36. > :04:39.take on the remarks he made at one point during the speech, when he
:04:40. > :04:45.spoke about the OBR and its view on the possibility of Brexit. This was
:04:46. > :04:52.probably the riskiest bit of his speech. He said he was questioning
:04:53. > :04:59.the OBR's warning of the dangers of Brexit the UK economy, but it was
:05:00. > :05:05.said he was misrepresenting a very cautious remarks in the OBR's
:05:06. > :05:09.document. There was a conservative behind him mouthing what he thought
:05:10. > :05:14.of this warning and how Osborne represented it. This is the kind of
:05:15. > :05:19.thing that really upsets Conservative backbenchers. He wants
:05:20. > :05:22.to be the man who pieces the Conservative Party back together
:05:23. > :05:28.again after the referendum. This is probably a risky way of approaching
:05:29. > :05:34.the Conservative backbench. The OBR, as they set themselves in their own
:05:35. > :05:37.briefing, that they were not tasked with looking at the long-term
:05:38. > :05:42.implications of Britain leaving the EU. It was simply a reflection of
:05:43. > :05:46.the consensus economic view that there would be more uncertainty if
:05:47. > :05:52.there was a no vote, and it would have more of an impact on the
:05:53. > :05:58.economy. It was not the way that Osborne implied, it was simply a
:05:59. > :06:04.reflection of what most economic analysts are saying. In the
:06:05. > :06:10.Telegraph's coverage, it concluded that talk of uncertainty in the
:06:11. > :06:18.short term, but longer term, it was not for the OBR to judge what the
:06:19. > :06:26.impact would be on the economy of the Brexit. Let's go to the Times.
:06:27. > :06:30.Back to sugar and pills. Going back to what we were saying earlier, if
:06:31. > :06:35.you were going to try and present something that had a lot of bad news
:06:36. > :06:42.in it, this would suggest he's succeeded in getting the message he
:06:43. > :06:46.wanted across. Yes. The power of a good metaphor. Newspaper headline
:06:47. > :06:52.writers love something they can latch onto, to present the news of
:06:53. > :06:56.the day in a digestible way. It was clever in that sense. When we are
:06:57. > :07:01.looking back at this budget in a couple of years' time, I don't think
:07:02. > :07:05.it will be the thing it was remembered for. I think the
:07:06. > :07:09.significant news today is the downgrade in the OBR's view of the
:07:10. > :07:15.productive capacity of the UK economy. That might be when we save
:07:16. > :07:23.things started to go really wrong. Or it may be that the OBR got it
:07:24. > :07:27.completely wrong and they were far too pessimistic, and the economy
:07:28. > :07:33.bounced back quite well, and we didn't have anything like the number
:07:34. > :07:37.of cuts that were pencilled in. The sugar tax is interesting from a
:07:38. > :07:44.public health perspective, but those growth figures are more important.
:07:45. > :07:47.The sugar tax is politically interesting. The Times quotes
:07:48. > :07:53.Osborne when he said, I'm not prepared to look back at my time
:07:54. > :07:58.here in Parliament and say to my children's generation, I'm sorry.
:07:59. > :08:02.There was an attempt to craft a moral mission. A lot of his critics
:08:03. > :08:09.argue that he can be quite cold, but as he is trying to aim for the
:08:10. > :08:14.Conservative leadership, he means to suggest that he has a social justice
:08:15. > :08:19.mission. There were lots of themes in his speech, like education
:08:20. > :08:31.reform. He said next generation something like ten times. Staying
:08:32. > :08:36.with the same subject, the FT, with reference to the word oops, which he
:08:37. > :08:48.might have said to suggest that things were not going to plan.
:08:49. > :08:56.Oops was a succinct way of saying what he said! That is not the kind
:08:57. > :09:02.of word you want to start bandying about in a budget statement. It does
:09:03. > :09:07.not breed confidence in the back benches behind you. It's a serious
:09:08. > :09:11.point. In the Autumn Statement he got a windfall from the OBR, and he
:09:12. > :09:18.banked it by having lower spending cuts. Now it has gone the other way.
:09:19. > :09:21.Why has -- why wasn't even wore Conservative in November, so he
:09:22. > :09:26.didn't have to go to the other extreme now. Thanks very much to
:09:27. > :09:34.both of you. Stay with us on BBC News. At 11, Moore on the budget,
:09:35. > :09:35.and reaction to George Osborne's changes to corporation tax and that
:09:36. > :09:46.levy on sugary drinks. Hello and welcome to Sportsday -
:09:47. > :09:50.I'm Katherine Downes. Barcelona pull out the tricks
:09:51. > :09:53.to beat Arsenal in the Champions League - and there's a big
:09:54. > :09:57.comeback for Bayern.