16/03/2016 The Papers


16/03/2016

No need to wait to see what's in the papers - tune in to a lively and informed conversation about the next day's headlines.


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match streak? And a true story of grit and talent as this horse

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gallops back to victory at Cheltenham, three years after a

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heart problem threatened to put an end to his career.

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Hello and welcome to our look ahead to what the the papers will be

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With me are Isabel Hardman, assistant editor of the Spectator,

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and Ben Chu, economics editor of the Independent.

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The FT says that George Osborne attempted to sweeten bleak economic

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is the Daily Telegraph's take, as it reports that Britain

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will become one of the first countries in the world to introduce

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The Independent says that the tax did not hide the ?55 billion hole

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The i reports that Jeremy Corbyn lashed out at "six years of failures

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and unfairness" in his budget response.

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The Daily Express says there was outrage from Brexit

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campaigners over what it calls a "pro-EU budget".

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The sugar tax formed part of a budget that raided big business

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to fund giveaways for middle-class workers and savers,

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The Daily Mail cause the budget, Georges awesome gamble.

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Let's have a look at the Independent's front. What do you

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think of the image reflected here? Ben, it is your paper. There is a

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big metaphor failure in these papers today, as they are always talking

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about sugaring the pill, but in fact what he has done is taking away the

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sugar. It's because of the taxis put on sugary drinks. This has become

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the rabbit in the hat somehow, the idea that it will be more expensive

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to buy sugary drinks, and that people will drink less and it will

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help the Obita T crisis. I would not have put money on the idea that this

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would be a great attractive element of the budget. But it has become the

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image. It seems to be quite popular, at least if the people who put

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together newspaper front pages are any judge of the public mood. It is

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a tactic to revise from downward revised growth forecasts. The

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Independent front page says there's a ?55 billion front -- black hole in

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the budget. We are one of the first countries in the world to have this

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sugar tax, and it was thought it would be controversial with the Tory

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party. It pushes all of those difficult to explain stories of the

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front pages, and we get these lovely images instead. It will only bring

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in ?500 million a year, so in the context of big downgrade in growth

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and tax revenues, it's not that significant. It's more of a talking

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point. And it is only that figure if people carry on buying sugary

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drinks. That's right. In the year after 2020, it goes down a bit in

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revenue, because it assumes there will be a behavioural response. You

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mentioned the black hole. The figure on the front of the Independent is

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significantly bigger than we heard in the Autumn Statement a few months

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ago. One of the curious things about this budget is that the Chancellor

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has been warning he will have to make further cuts and it will be

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terribly painful, and in his speech it was only a paragraph that he

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mentioned the cuts. Then he moved on to things like infrastructure

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spending that everyone could agree with. It will was a very political

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budget, and an intentionally boring budget, because I thinks he wants us

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to get talking about the EU referendum again. Speaking of which,

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let's have a look at the Telegraph's takes. Obviously, you have the main

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coverage, Osborne sugar is the pill, but beneath that, and interesting

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take on the remarks he made at one point during the speech, when he

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spoke about the OBR and its view on the possibility of Brexit. This was

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probably the riskiest bit of his speech. He said he was questioning

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the OBR's warning of the dangers of Brexit the UK economy, but it was

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said he was misrepresenting a very cautious remarks in the OBR's

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document. There was a conservative behind him mouthing what he thought

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of this warning and how Osborne represented it. This is the kind of

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thing that really upsets Conservative backbenchers. He wants

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to be the man who pieces the Conservative Party back together

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again after the referendum. This is probably a risky way of approaching

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the Conservative backbench. The OBR, as they set themselves in their own

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briefing, that they were not tasked with looking at the long-term

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implications of Britain leaving the EU. It was simply a reflection of

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the consensus economic view that there would be more uncertainty if

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there was a no vote, and it would have more of an impact on the

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economy. It was not the way that Osborne implied, it was simply a

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reflection of what most economic analysts are saying. In the

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Telegraph's coverage, it concluded that talk of uncertainty in the

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short term, but longer term, it was not for the OBR to judge what the

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impact would be on the economy of the Brexit. Let's go to the Times.

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Back to sugar and pills. Going back to what we were saying earlier, if

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you were going to try and present something that had a lot of bad news

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in it, this would suggest he's succeeded in getting the message he

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wanted across. Yes. The power of a good metaphor. Newspaper headline

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writers love something they can latch onto, to present the news of

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the day in a digestible way. It was clever in that sense. When we are

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looking back at this budget in a couple of years' time, I don't think

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it will be the thing it was remembered for. I think the

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significant news today is the downgrade in the OBR's view of the

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productive capacity of the UK economy. That might be when we save

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things started to go really wrong. Or it may be that the OBR got it

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completely wrong and they were far too pessimistic, and the economy

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bounced back quite well, and we didn't have anything like the number

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of cuts that were pencilled in. The sugar tax is interesting from a

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public health perspective, but those growth figures are more important.

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The sugar tax is politically interesting. The Times quotes

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Osborne when he said, I'm not prepared to look back at my time

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here in Parliament and say to my children's generation, I'm sorry.

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There was an attempt to craft a moral mission. A lot of his critics

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argue that he can be quite cold, but as he is trying to aim for the

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Conservative leadership, he means to suggest that he has a social justice

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mission. There were lots of themes in his speech, like education

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reform. He said next generation something like ten times. Staying

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with the same subject, the FT, with reference to the word oops, which he

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might have said to suggest that things were not going to plan.

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Oops was a succinct way of saying what he said! That is not the kind

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of word you want to start bandying about in a budget statement. It does

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not breed confidence in the back benches behind you. It's a serious

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point. In the Autumn Statement he got a windfall from the OBR, and he

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banked it by having lower spending cuts. Now it has gone the other way.

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Why has -- why wasn't even wore Conservative in November, so he

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didn't have to go to the other extreme now. Thanks very much to

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both of you. Stay with us on BBC News. At 11, Moore on the budget,

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and reaction to George Osborne's changes to corporation tax and that

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levy on sugary drinks. Hello and welcome to Sportsday -

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I'm Katherine Downes. Barcelona pull out the tricks

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to beat Arsenal in the Champions League - and there's a big

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comeback for Bayern.

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