Browse content similar to 16/03/2016. Check below for episodes and series from the same categories and more!
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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 | :00:00. | :00:00. | |
heart problem threatened to put an end to his career. | :00:07. | :00:13. | |
Hello and welcome to our look ahead to what the the papers will be | :00:14. | :00:16. | |
With me are Isabel Hardman, assistant editor of the Spectator, | :00:17. | :00:20. | |
and Ben Chu, economics editor of the Independent. | :00:21. | :00:26. | |
The FT says that George Osborne attempted to sweeten bleak economic | :00:27. | :00:34. | |
is the Daily Telegraph's take, as it reports that Britain | :00:35. | :00:40. | |
will become one of the first countries in the world to introduce | :00:41. | :00:43. | |
The Independent says that the tax did not hide the ?55 billion hole | :00:44. | :00:49. | |
The i reports that Jeremy Corbyn lashed out at "six years of failures | :00:50. | :00:56. | |
and unfairness" in his budget response. | :00:57. | :01:01. | |
The Daily Express says there was outrage from Brexit | :01:02. | :01:08. | |
campaigners over what it calls a "pro-EU budget". | :01:09. | :01:12. | |
The sugar tax formed part of a budget that raided big business | :01:13. | :01:15. | |
to fund giveaways for middle-class workers and savers, | :01:16. | :01:18. | |
The Daily Mail cause the budget, Georges awesome gamble. | :01:19. | :01:37. | |
Let's have a look at the Independent's front. What do you | :01:38. | :01:44. | |
think of the image reflected here? Ben, it is your paper. There is a | :01:45. | :01:52. | |
big metaphor failure in these papers today, as they are always talking | :01:53. | :01:55. | |
about sugaring the pill, but in fact what he has done is taking away the | :01:56. | :02:02. | |
sugar. It's because of the taxis put on sugary drinks. This has become | :02:03. | :02:07. | |
the rabbit in the hat somehow, the idea that it will be more expensive | :02:08. | :02:12. | |
to buy sugary drinks, and that people will drink less and it will | :02:13. | :02:16. | |
help the Obita T crisis. I would not have put money on the idea that this | :02:17. | :02:21. | |
would be a great attractive element of the budget. But it has become the | :02:22. | :02:27. | |
image. It seems to be quite popular, at least if the people who put | :02:28. | :02:31. | |
together newspaper front pages are any judge of the public mood. It is | :02:32. | :02:39. | |
a tactic to revise from downward revised growth forecasts. The | :02:40. | :02:43. | |
Independent front page says there's a ?55 billion front -- black hole in | :02:44. | :02:50. | |
the budget. We are one of the first countries in the world to have this | :02:51. | :02:55. | |
sugar tax, and it was thought it would be controversial with the Tory | :02:56. | :03:01. | |
party. It pushes all of those difficult to explain stories of the | :03:02. | :03:06. | |
front pages, and we get these lovely images instead. It will only bring | :03:07. | :03:12. | |
in ?500 million a year, so in the context of big downgrade in growth | :03:13. | :03:17. | |
and tax revenues, it's not that significant. It's more of a talking | :03:18. | :03:23. | |
point. And it is only that figure if people carry on buying sugary | :03:24. | :03:28. | |
drinks. That's right. In the year after 2020, it goes down a bit in | :03:29. | :03:33. | |
revenue, because it assumes there will be a behavioural response. You | :03:34. | :03:38. | |
mentioned the black hole. The figure on the front of the Independent is | :03:39. | :03:41. | |
significantly bigger than we heard in the Autumn Statement a few months | :03:42. | :03:46. | |
ago. One of the curious things about this budget is that the Chancellor | :03:47. | :03:50. | |
has been warning he will have to make further cuts and it will be | :03:51. | :03:55. | |
terribly painful, and in his speech it was only a paragraph that he | :03:56. | :04:01. | |
mentioned the cuts. Then he moved on to things like infrastructure | :04:02. | :04:03. | |
spending that everyone could agree with. It will was a very political | :04:04. | :04:11. | |
budget, and an intentionally boring budget, because I thinks he wants us | :04:12. | :04:17. | |
to get talking about the EU referendum again. Speaking of which, | :04:18. | :04:21. | |
let's have a look at the Telegraph's takes. Obviously, you have the main | :04:22. | :04:28. | |
coverage, Osborne sugar is the pill, but beneath that, and interesting | :04:29. | :04:35. | |
take on the remarks he made at one point during the speech, when he | :04:36. | :04:39. | |
spoke about the OBR and its view on the possibility of Brexit. This was | :04:40. | :04:45. | |
probably the riskiest bit of his speech. He said he was questioning | :04:46. | :04:52. | |
the OBR's warning of the dangers of Brexit the UK economy, but it was | :04:53. | :04:59. | |
said he was misrepresenting a very cautious remarks in the OBR's | :05:00. | :05:05. | |
document. There was a conservative behind him mouthing what he thought | :05:06. | :05:09. | |
of this warning and how Osborne represented it. This is the kind of | :05:10. | :05:14. | |
thing that really upsets Conservative backbenchers. He wants | :05:15. | :05:19. | |
to be the man who pieces the Conservative Party back together | :05:20. | :05:22. | |
again after the referendum. This is probably a risky way of approaching | :05:23. | :05:28. | |
the Conservative backbench. The OBR, as they set themselves in their own | :05:29. | :05:34. | |
briefing, that they were not tasked with looking at the long-term | :05:35. | :05:37. | |
implications of Britain leaving the EU. It was simply a reflection of | :05:38. | :05:42. | |
the consensus economic view that there would be more uncertainty if | :05:43. | :05:46. | |
there was a no vote, and it would have more of an impact on the | :05:47. | :05:52. | |
economy. It was not the way that Osborne implied, it was simply a | :05:53. | :05:58. | |
reflection of what most economic analysts are saying. In the | :05:59. | :06:04. | |
Telegraph's coverage, it concluded that talk of uncertainty in the | :06:05. | :06:10. | |
short term, but longer term, it was not for the OBR to judge what the | :06:11. | :06:18. | |
impact would be on the economy of the Brexit. Let's go to the Times. | :06:19. | :06:26. | |
Back to sugar and pills. Going back to what we were saying earlier, if | :06:27. | :06:30. | |
you were going to try and present something that had a lot of bad news | :06:31. | :06:35. | |
in it, this would suggest he's succeeded in getting the message he | :06:36. | :06:42. | |
wanted across. Yes. The power of a good metaphor. Newspaper headline | :06:43. | :06:46. | |
writers love something they can latch onto, to present the news of | :06:47. | :06:52. | |
the day in a digestible way. It was clever in that sense. When we are | :06:53. | :06:56. | |
looking back at this budget in a couple of years' time, I don't think | :06:57. | :07:01. | |
it will be the thing it was remembered for. I think the | :07:02. | :07:05. | |
significant news today is the downgrade in the OBR's view of the | :07:06. | :07:09. | |
productive capacity of the UK economy. That might be when we save | :07:10. | :07:15. | |
things started to go really wrong. Or it may be that the OBR got it | :07:16. | :07:23. | |
completely wrong and they were far too pessimistic, and the economy | :07:24. | :07:27. | |
bounced back quite well, and we didn't have anything like the number | :07:28. | :07:33. | |
of cuts that were pencilled in. The sugar tax is interesting from a | :07:34. | :07:37. | |
public health perspective, but those growth figures are more important. | :07:38. | :07:44. | |
The sugar tax is politically interesting. The Times quotes | :07:45. | :07:47. | |
Osborne when he said, I'm not prepared to look back at my time | :07:48. | :07:53. | |
here in Parliament and say to my children's generation, I'm sorry. | :07:54. | :07:58. | |
There was an attempt to craft a moral mission. A lot of his critics | :07:59. | :08:02. | |
argue that he can be quite cold, but as he is trying to aim for the | :08:03. | :08:09. | |
Conservative leadership, he means to suggest that he has a social justice | :08:10. | :08:14. | |
mission. There were lots of themes in his speech, like education | :08:15. | :08:19. | |
reform. He said next generation something like ten times. Staying | :08:20. | :08:31. | |
with the same subject, the FT, with reference to the word oops, which he | :08:32. | :08:36. | |
might have said to suggest that things were not going to plan. | :08:37. | :08:48. | |
Oops was a succinct way of saying what he said! That is not the kind | :08:49. | :08:56. | |
of word you want to start bandying about in a budget statement. It does | :08:57. | :09:02. | |
not breed confidence in the back benches behind you. It's a serious | :09:03. | :09:07. | |
point. In the Autumn Statement he got a windfall from the OBR, and he | :09:08. | :09:11. | |
banked it by having lower spending cuts. Now it has gone the other way. | :09:12. | :09:18. | |
Why has -- why wasn't even wore Conservative in November, so he | :09:19. | :09:21. | |
didn't have to go to the other extreme now. Thanks very much to | :09:22. | :09:26. | |
both of you. Stay with us on BBC News. At 11, Moore on the budget, | :09:27. | :09:34. | |
and reaction to George Osborne's changes to corporation tax and that | :09:35. | :09:35. | |
levy on sugary drinks. Hello and welcome to Sportsday - | :09:36. | :09:46. | |
I'm Katherine Downes. Barcelona pull out the tricks | :09:47. | :09:50. | |
to beat Arsenal in the Champions League - and there's a big | :09:51. | :09:53. | |
comeback for Bayern. | :09:54. | :09:57. |