16/03/2016 The Papers


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


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


and Ben Chu, economics editor of the Independent.


The FT says that George Osborne attempted to sweeten bleak economic


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


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


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


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


and unfairness" in his budget response.


The Daily Express says there was outrage from Brexit


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


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


to fund giveaways for middle-class workers and savers,


The Daily Mail cause the budget, Georges awesome gamble.


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


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


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


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


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


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


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


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


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


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


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


a tactic to revise from downward revised growth forecasts. The


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


thing that really upsets Conservative backbenchers. He wants


to be the man who pieces the Conservative Party back together


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


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


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


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


the consensus economic view that there would be more uncertainty if


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


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


reflection of what most economic analysts are saying. In the


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


The sugar tax is politically interesting. The Times quotes


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


levy on sugary drinks. Hello and welcome to Sportsday -


I'm Katherine Downes. Barcelona pull out the tricks


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