:00:00. > :00:00.about his new book The Blade Artist in Meet The Author.
:00:00. > :00:09.Hello and welcome to our look ahead to what the the papers will be
:00:10. > :00:24.With me are Charlie Wells, the European features reporter of the
:00:25. > :00:25.Wall Street Journal and John Rentoul, the chief political
:00:26. > :00:44.commentator for The Independent. Front pains, The Guardian has the
:00:45. > :00:51.story -- front pages then. That's not The Guardian. It's a two billion
:00:52. > :00:55.trail of offshore deals that leads to President Putin. How the rich
:00:56. > :01:02.hide their money, The I which we have already shown you. Splashes on
:01:03. > :01:06.the Panama pages tax haven scandal and calls for Iceland's Prime
:01:07. > :01:11.Minister to resign over his offshore accounts. British steel to rise from
:01:12. > :01:22.the Ashes says The Telegraph. Leading on news of a possible buyer
:01:23. > :01:32.for Tata's plant in Scunthorpe. The Daily
:01:33. > :01:38.Mail says white -- says white British pupils are being overtaken
:01:39. > :01:43.at school by children from other ethnic groups by the time they sit
:01:44. > :01:49.their GCSEs. The FT leads on jitters in the
:01:50. > :01:54.currency markets. The Independent's cover star is the jubilant West
:01:55. > :02:00.Indies all-rounder celebrating victory against England in the final
:02:01. > :02:05.of the T20 World Cup. This is what it's like, we make it
:02:06. > :02:11.up as we go along! So, don't worry. Let's begin with
:02:12. > :02:15.this coverage in many newspapers who were involved in this international
:02:16. > :02:19.investigation into these papers which show how the rich and powerful
:02:20. > :02:24.manage to hide their wealth. Here it is on The Guardian. A striking front
:02:25. > :02:30.page. Exclusive it says, but exclusive shared by a few of the
:02:31. > :02:37.rest of us. The secret 2 billion dollar trailful deals that lead to
:02:38. > :02:43.Putin. Putin one of the leaders who are said to have been caught up in
:02:44. > :02:52.this somehow. Yeah, it's a huge story this. The thing I can't get
:02:53. > :02:59.over is it's all stems from a law firm, it sounds like something JK
:03:00. > :03:03.Rowling made up. This is a very important story. As we speak the
:03:04. > :03:11.Prime Minister of Iceland may or may not have resigned because of it. He
:03:12. > :03:18.is under pressure. That's right. I think maybe it isn't surprising that
:03:19. > :03:21.Vladimir Putin might have through associate lots of money in secret
:03:22. > :03:25.somewhere. But it's very important we know as much as we can about it.
:03:26. > :03:30.This is how tax evasion and tax havens are going to be curbed, if
:03:31. > :03:32.people feel they can't actually hide their money safely, they'll have to
:03:33. > :03:38.declare it and deal with it honestly. It shows how secretive
:03:39. > :03:41.these arrangements are. Suspicions have been these things have been
:03:42. > :03:44.taking place but now we are getting a sense of how it works. I am
:03:45. > :03:49.interested to see how readers will respond to this story. A lot of us
:03:50. > :03:55.in the UK are suspicious of this sort of thing. I want to know how
:03:56. > :04:01.Russians are going to respond. In another story I came across Putin
:04:02. > :04:05.was talking about offshore financing, this makes it seem he is
:04:06. > :04:10.not taking part in that. The Russian economy is not doing so well
:04:11. > :04:15.recently. I think if we have a leader who is hiding money, using
:04:16. > :04:18.associate to put money in soern ways, or a musician who is
:04:19. > :04:22.apparently his best friend who has been a proxy here. His daughter's
:04:23. > :04:27.Godfather. Exactly. I want to see how the Russians respond. It will be
:04:28. > :04:33.fascinating because Putin is so popular in Russia. Nothing seems to
:04:34. > :04:39.get through his Teflon coating. Perhaps this will. It seems the way
:04:40. > :04:43.some people manage to use these accounts is that they have money,
:04:44. > :04:48.large sums of money, held in offshore companies. But when they
:04:49. > :04:54.want to access it sometimes a firm will pay another person to access it
:04:55. > :04:59.for them. You are drawing in even people who don't actually have
:05:00. > :05:02.direct investments, if we can call them that, in these offshore...
:05:03. > :05:07.These things are so complicated that a team of journalists have been
:05:08. > :05:11.working on it for months. 400 I think all over the world. It's
:05:12. > :05:14.extraordinary N a way the one slightly encouraging thing for
:05:15. > :05:19.British politics that comes out of this is that our politics seems to
:05:20. > :05:23.be relatively clean. I know David Cameron's father has been mentioned,
:05:24. > :05:28.but it doesn't appear to have actually done anything wrong or
:05:29. > :05:33.suspicious. British politicians, there are one or two retired
:05:34. > :05:37.Conservative MPs and some peers, but generally our politics seems to come
:05:38. > :05:46.out of this quite cleanly. Let's look at The I, how the rich hide
:05:47. > :05:50.their money. The scale of the leak even makes the WikiLeaks or the
:05:51. > :05:55.Edward Snowden disclosures... A lot of documents. The thing that I want
:05:56. > :06:00.to know about, and I have seen people tweet being this, talking
:06:01. > :06:04.about how offshore accounts are not necessarily illegal. I want to hear
:06:05. > :06:08.more legal analysis as the story develops to see where some of the
:06:09. > :06:12.laws were broken, if they were, or not, or if any sort of - if there
:06:13. > :06:16.will be a push to make this more difficult. It's hard because it's so
:06:17. > :06:19.international. A lot of these stories are focussed on, we are
:06:20. > :06:23.connecting from Panama to Switzerland and how do you police
:06:24. > :06:28.that? The Daily Telegraph has the story. World leaders caught in
:06:29. > :06:34.offshore data leak. One of the ways in which they seem to do it is that
:06:35. > :06:42.you borrow some money but you only pay back a dollar. And millions of
:06:43. > :06:47.dollars disappear. Yeah, this is the problem with trying to deal with tax
:06:48. > :06:52.evasion and havens, tax secrecy, is that if you can successfully keep it
:06:53. > :06:58.secret, people don't know what you are doing. The British Government,
:06:59. > :07:02.of which ever party, has promised to clamp down on this kind of thing,
:07:03. > :07:04.make it more transparent but it's always going to be difficult because
:07:05. > :07:08.people can move somewhere else in the world. Yes. There has been
:07:09. > :07:15.moves, David Cameron's talked of wanting to clamp down on this but it
:07:16. > :07:18.requires international effort. We see this not just with individuals
:07:19. > :07:23.but companies, as well. How do you solve this? That will be interesting
:07:24. > :07:28.to watch. Let's stay with The Telegraph. British steel to rise
:07:29. > :07:35.from the Ashes. The focus this week has been on Port Talbot, the Tata
:07:36. > :07:40.steel plant which is - it has an uncertain future. This time, though,
:07:41. > :07:45.it's focussing on some little known investors who are coming to the
:07:46. > :07:49.rescue it seems of Scunthorpe. Right. It's surprising. I think this
:07:50. > :07:54.sort of latches on to an idea about what will the solution be? Will it
:07:55. > :08:01.be some grand solution that solves the entire Tata problem or will it
:08:02. > :08:07.be sort of piecemeal deals that come together helping regional areas? I
:08:08. > :08:11.think that is all fine and well but it's scary if you want a factory
:08:12. > :08:15.floor, not at this plant but in one of the others, you would be thinking
:08:16. > :08:21.what's going to happen to me, how am I going - what's my future? These
:08:22. > :08:24.are two brothers investing, not an inconsiderable sum of money in the
:08:25. > :08:27.plant in Scunthorpe. You wonder whether they're going to have to
:08:28. > :08:31.concentrate on a particular type of product. Yes, that's been the
:08:32. > :08:39.thinking that the Government has been hinting at. There are elements
:08:40. > :08:43.of the British steel industry which could be extremely profitable. My
:08:44. > :08:49.problem with that is that Tata didn't think so and it's a good
:08:50. > :08:55.well-run company. It's sunk ?6 billion into the British steel
:08:56. > :09:00.industry and it's all gone. So, how does anybody else think they can
:09:01. > :09:03.make a better job than they can? How would this be viewed from the
:09:04. > :09:07.States? There are people here who think that we should be putting up
:09:08. > :09:12.tariffs, protecting our industry. Right. As we know the United States
:09:13. > :09:16.has enormous tariffs on cheap Chinese steel. I think it's over
:09:17. > :09:26.200%, something like that, which is much more than in the EU or the UK
:09:27. > :09:28.have. So, I think, you know, the US is also entrepreneurial and the
:09:29. > :09:35.interesting thing about this story is entrepreneurs are stepping up to
:09:36. > :09:41.save this plant and I wonder - I don't know, I wonder how it could
:09:42. > :09:45.sort of turn around the Conservative embarrassment that's been happening
:09:46. > :09:49.here. Obviously, the Tories seem to have been caught off-guard and were
:09:50. > :09:54.criticised and will this heart-warming story turn that
:09:55. > :09:57.around? I don't know. We have had Sajid Javid suggesting there may be
:09:58. > :10:00.more the Government can do, if there is this suggestion of an Indian
:10:01. > :10:05.buyer who might come in and help out. That's right. But as Charlie
:10:06. > :10:10.says, the problem is that the Government has taken a very free
:10:11. > :10:14.trade line on this and there's - and has been opposed to tariff barriers
:10:15. > :10:18.against Chinese steel. It's probably going to have to soften that line, I
:10:19. > :10:23.would have thought. Let's move on to The Times. Border chaos threatens
:10:24. > :10:28.deal to deport migrants. Greece has no idea how many will be sent back.
:10:29. > :10:33.Too few officials to carry out the plan. We were reporting that Turkey
:10:34. > :10:39.says we are getting reception centres built. It takes time to do
:10:40. > :10:44.these things. This is a story that's been running for sometime now, which
:10:45. > :10:49.is that Greece is overwhelmed. All of the Greek officialdom is
:10:50. > :10:55.overwhelmed by the sheer volume of numbers that it's having to deal
:10:56. > :11:00.with in the refugee problem. It's not going to get any better this
:11:01. > :11:04.year, I don't think. It's so challenging because you are forcibly
:11:05. > :11:09.moving people from one country to another, taking them perhaps back to
:11:10. > :11:15.a country they just spent thousands of pounds to get away from. I would
:11:16. > :11:20.not be surprised to see stories coming up about conflicts. We read
:11:21. > :11:24.about tiffs at a lot of camps and I wonder if that will continue. The
:11:25. > :11:28.people in this resort in Turkey who are going to be the recipients of
:11:29. > :11:32.the back who are sent people have been protesting too because they
:11:33. > :11:36.recognise that they're not ready to receive them. That's right. That's a
:11:37. > :11:43.taste of things to come, I suspect. The conflict there, as Charlie says,
:11:44. > :11:46.the conflict of interest between different countries. Turkey wants
:11:47. > :11:51.people who don't want to be in Turkey to go somewhere else. It
:11:52. > :11:56.doesn't want to have them back. Turkey needs to get it right. It has
:11:57. > :11:59.a part to play in this deal if it wants more favourable treatment when
:12:00. > :12:03.it comes to the EU. At the national level. Local Governments in Turkey
:12:04. > :12:08.are not going to be happy at all. Let's look at the FT. Fears mounting
:12:09. > :12:14.in currency markets as EU referendum approaches.
:12:15. > :12:19.The pound has been suffering a bit. That's right. This is not much of a
:12:20. > :12:24.surprise. I think any time... Uncertainty! Any time there is
:12:25. > :12:29.uncertainty a currency falls down and it's a test for how investors
:12:30. > :12:33.and the international community views the economy in a particular
:12:34. > :12:37.country. As we were talking about before, this could potentially be
:12:38. > :12:42.good for British exporters because when the pound goes down it makes
:12:43. > :12:46.exports cheaper for people abroad. Of course as an American this is
:12:47. > :12:49.great for me because my dollar goes further, not that it goes all that
:12:50. > :12:56.far, but I don't think this is much of a surprise. No. And I do think it
:12:57. > :13:01.is in a sense it's good news because we in Britain have a real problem
:13:02. > :13:07.with our export trade balance at the moment. The pound does need to go
:13:08. > :13:11.down, I suspect. But what we don't like is the uncertainty, the
:13:12. > :13:14.volatility because that can affect how a country's perceived for
:13:15. > :13:21.potential investors, can't it? Absolutely. That only lasts until
:13:22. > :13:25.23rd June. I don't know. Let's say the UK... It's not a long period.
:13:26. > :13:28.Let's say the UK does leave and that's a new future, who knows
:13:29. > :13:34.what's going to happen. There will be a lot of negotiating with
:13:35. > :13:37.treaties. Banks take so long to determine where headquarters will
:13:38. > :13:45.be. There would be continued uncertainty. There certainly would,
:13:46. > :13:52.yeah. But I am all for a low pound. Daily Express, holiday bargains as
:13:53. > :13:58.costs tumble. It's the opposite. We could be saving up to 40% on our
:13:59. > :14:03.summer holidays, in particular, some countries. Where should we go?
:14:04. > :14:10.Apparently the choice is Cyprus, Croatia, or Bulgaria. You know... I
:14:11. > :14:16.will let you guys decide. Well, we will stick a pin in a map. As you
:14:17. > :14:22.say, how can this be true too? Well, I think it's probably selective. Up
:14:23. > :14:25.two back end of the brochure two back end of the brochure
:14:26. > :14:30.holidays that aren't selling very well. They're cutting the costs of
:14:31. > :14:34.food, drink and entertainment but whether you will like what you get
:14:35. > :14:39.when you get there we don't know. Let's finish with The Independent.
:14:40. > :14:43.We will just for a moment look at the cricket.
:14:44. > :14:48.None of us particularly... We will pretend we know something about! We
:14:49. > :14:55.know that the West Indies beat England in the final in the T20.
:14:56. > :14:59.Sorry. A quick education in this game.
:15:00. > :15:09.For Charlie's purposes, basically, the West Indies scored a lot of home
:15:10. > :15:15.runs. The guy whacked the ball really hard and it went a long way.
:15:16. > :15:21.It hit the bat and shot across the boundary without touching the
:15:22. > :15:26.ground. That's the important bit. Sadly. The West Indies won. I did
:15:27. > :15:32.promise to add a little extra on the bottom. Here is The Independent's
:15:33. > :15:35.front page which we still get as if it is a newspaper but they're now
:15:36. > :15:38.online but we are pleased to see it. Charities demand urgent action to
:15:39. > :15:43.save homeless children. Tell us about this. This is an important
:15:44. > :15:47.story. Not least for the people who fear that The Independent going
:15:48. > :15:52.online will lose its value. We are completely committed to this kind of
:15:53. > :15:59.story. This is all about councils moving families in social housing
:16:00. > :16:03.out of their area and failing to provide information to the receiving
:16:04. > :16:06.council about vulnerable children or vulnerable adults indeed. It is
:16:07. > :16:13.causing a lot of problems and it's only going to get worse. Why is this
:16:14. > :16:19.happening now particularly? Is it to do with the cuts to councils? Cuts
:16:20. > :16:24.to councils, cuts to housing benefit, and the continuing problem
:16:25. > :16:28.of high house prices in London. See, I said I would do what I could and
:16:29. > :16:35.we did it. Your editor will be thrilled. That's The Papers. Charlie
:16:36. > :16:40.and John will be back at 11. 30pm. Bar the doors so Charlie can't
:16:41. > :16:42.leave! Up next, it's Meet The