03/04/2016 The Papers


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about his new book The Blade Artist in Meet The Author.


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


With me are Charlie Wells, the European features reporter of the


Wall Street Journal and John Rentoul, the chief political


commentator for The Independent. Front pains, The Guardian has the


story -- front pages then. That's not The Guardian. It's a two billion


trail of offshore deals that leads to President Putin. How the rich


hide their money, The I which we have already shown you. Splashes on


the Panama pages tax haven scandal and calls for Iceland's Prime


Minister to resign over his offshore accounts. British steel to rise from


the Ashes says The Telegraph. Leading on news of a possible buyer


for Tata's plant in Scunthorpe. The Daily


Mail says white -- says white British pupils are being overtaken


at school by children from other ethnic groups by the time they sit


their GCSEs. The FT leads on jitters in the


currency markets. The Independent's cover star is the jubilant West


Indies all-rounder celebrating victory against England in the final


of the T20 World Cup. This is what it's like, we make it


up as we go along! So, don't worry. Let's begin with


this coverage in many newspapers who were involved in this international


investigation into these papers which show how the rich and powerful


manage to hide their wealth. Here it is on The Guardian. A striking front


page. Exclusive it says, but exclusive shared by a few of the


rest of us. The secret 2 billion dollar trailful deals that lead to


Putin. Putin one of the leaders who are said to have been caught up in


this somehow. Yeah, it's a huge story this. The thing I can't get


over is it's all stems from a law firm, it sounds like something JK


Rowling made up. This is a very important story. As we speak the


Prime Minister of Iceland may or may not have resigned because of it. He


is under pressure. That's right. I think maybe it isn't surprising that


Vladimir Putin might have through associate lots of money in secret


somewhere. But it's very important we know as much as we can about it.


This is how tax evasion and tax havens are going to be curbed, if


people feel they can't actually hide their money safely, they'll have to


declare it and deal with it honestly. It shows how secretive


these arrangements are. Suspicions have been these things have been


taking place but now we are getting a sense of how it works. I am


interested to see how readers will respond to this story. A lot of us


in the UK are suspicious of this sort of thing. I want to know how


Russians are going to respond. In another story I came across Putin


was talking about offshore financing, this makes it seem he is


not taking part in that. The Russian economy is not doing so well


recently. I think if we have a leader who is hiding money, using


associate to put money in soern ways, or a musician who is


apparently his best friend who has been a proxy here. His daughter's


Godfather. Exactly. I want to see how the Russians respond. It will be


fascinating because Putin is so popular in Russia. Nothing seems to


get through his Teflon coating. Perhaps this will. It seems the way


some people manage to use these accounts is that they have money,


large sums of money, held in offshore companies. But when they


want to access it sometimes a firm will pay another person to access it


for them. You are drawing in even people who don't actually have


direct investments, if we can call them that, in these offshore...


These things are so complicated that a team of journalists have been


working on it for months. 400 I think all over the world. It's


extraordinary N a way the one slightly encouraging thing for


British politics that comes out of this is that our politics seems to


be relatively clean. I know David Cameron's father has been mentioned,


but it doesn't appear to have actually done anything wrong or


suspicious. British politicians, there are one or two retired


Conservative MPs and some peers, but generally our politics seems to come


out of this quite cleanly. Let's look at The I, how the rich hide


their money. The scale of the leak even makes the WikiLeaks or the


Edward Snowden disclosures... A lot of documents. The thing that I want


to know about, and I have seen people tweet being this, talking


about how offshore accounts are not necessarily illegal. I want to hear


more legal analysis as the story develops to see where some of the


laws were broken, if they were, or not, or if any sort of - if there


will be a push to make this more difficult. It's hard because it's so


international. A lot of these stories are focussed on, we are


connecting from Panama to Switzerland and how do you police


that? The Daily Telegraph has the story. World leaders caught in


offshore data leak. One of the ways in which they seem to do it is that


you borrow some money but you only pay back a dollar. And millions of


dollars disappear. Yeah, this is the problem with trying to deal with tax


evasion and havens, tax secrecy, is that if you can successfully keep it


secret, people don't know what you are doing. The British Government,


of which ever party, has promised to clamp down on this kind of thing,


make it more transparent but it's always going to be difficult because


people can move somewhere else in the world. Yes. There has been


moves, David Cameron's talked of wanting to clamp down on this but it


requires international effort. We see this not just with individuals


but companies, as well. How do you solve this? That will be interesting


to watch. Let's stay with The Telegraph. British steel to rise


from the Ashes. The focus this week has been on Port Talbot, the Tata


steel plant which is - it has an uncertain future. This time, though,


it's focussing on some little known investors who are coming to the


rescue it seems of Scunthorpe. Right. It's surprising. I think this


sort of latches on to an idea about what will the solution be? Will it


be some grand solution that solves the entire Tata problem or will it


be sort of piecemeal deals that come together helping regional areas? I


think that is all fine and well but it's scary if you want a factory


floor, not at this plant but in one of the others, you would be thinking


what's going to happen to me, how am I going - what's my future? These


are two brothers investing, not an inconsiderable sum of money in the


plant in Scunthorpe. You wonder whether they're going to have to


concentrate on a particular type of product. Yes, that's been the


thinking that the Government has been hinting at. There are elements


of the British steel industry which could be extremely profitable. My


problem with that is that Tata didn't think so and it's a good


well-run company. It's sunk ?6 billion into the British steel


industry and it's all gone. So, how does anybody else think they can


make a better job than they can? How would this be viewed from the


States? There are people here who think that we should be putting up


tariffs, protecting our industry. Right. As we know the United States


has enormous tariffs on cheap Chinese steel. I think it's over


200%, something like that, which is much more than in the EU or the UK


have. So, I think, you know, the US is also entrepreneurial and the


interesting thing about this story is entrepreneurs are stepping up to


save this plant and I wonder - I don't know, I wonder how it could


sort of turn around the Conservative embarrassment that's been happening


here. Obviously, the Tories seem to have been caught off-guard and were


criticised and will this heart-warming story turn that


around? I don't know. We have had Sajid Javid suggesting there may be


more the Government can do, if there is this suggestion of an Indian


buyer who might come in and help out. That's right. But as Charlie


says, the problem is that the Government has taken a very free


trade line on this and there's - and has been opposed to tariff barriers


against Chinese steel. It's probably going to have to soften that line, I


would have thought. Let's move on to The Times. Border chaos threatens


deal to deport migrants. Greece has no idea how many will be sent back.


Too few officials to carry out the plan. We were reporting that Turkey


says we are getting reception centres built. It takes time to do


these things. This is a story that's been running for sometime now, which


is that Greece is overwhelmed. All of the Greek officialdom is


overwhelmed by the sheer volume of numbers that it's having to deal


with in the refugee problem. It's not going to get any better this


year, I don't think. It's so challenging because you are forcibly


moving people from one country to another, taking them perhaps back to


a country they just spent thousands of pounds to get away from. I would


not be surprised to see stories coming up about conflicts. We read


about tiffs at a lot of camps and I wonder if that will continue. The


people in this resort in Turkey who are going to be the recipients of


the back who are sent people have been protesting too because they


recognise that they're not ready to receive them. That's right. That's a


taste of things to come, I suspect. The conflict there, as Charlie says,


the conflict of interest between different countries. Turkey wants


people who don't want to be in Turkey to go somewhere else. It


doesn't want to have them back. Turkey needs to get it right. It has


a part to play in this deal if it wants more favourable treatment when


it comes to the EU. At the national level. Local Governments in Turkey


are not going to be happy at all. Let's look at the FT. Fears mounting


in currency markets as EU referendum approaches.


The pound has been suffering a bit. That's right. This is not much of a


surprise. I think any time... Uncertainty! Any time there is


uncertainty a currency falls down and it's a test for how investors


and the international community views the economy in a particular


country. As we were talking about before, this could potentially be


good for British exporters because when the pound goes down it makes


exports cheaper for people abroad. Of course as an American this is


great for me because my dollar goes further, not that it goes all that


far, but I don't think this is much of a surprise. No. And I do think it


is in a sense it's good news because we in Britain have a real problem


with our export trade balance at the moment. The pound does need to go


down, I suspect. But what we don't like is the uncertainty, the


volatility because that can affect how a country's perceived for


potential investors, can't it? Absolutely. That only lasts until


23rd June. I don't know. Let's say the UK... It's not a long period.


Let's say the UK does leave and that's a new future, who knows


what's going to happen. There will be a lot of negotiating with


treaties. Banks take so long to determine where headquarters will


be. There would be continued uncertainty. There certainly would,


yeah. But I am all for a low pound. Daily Express, holiday bargains as


costs tumble. It's the opposite. We could be saving up to 40% on our


summer holidays, in particular, some countries. Where should we go?


Apparently the choice is Cyprus, Croatia, or Bulgaria. You know... I


will let you guys decide. Well, we will stick a pin in a map. As you


say, how can this be true too? Well, I think it's probably selective. Up


two back end of the brochure two back end of the brochure


holidays that aren't selling very well. They're cutting the costs of


food, drink and entertainment but whether you will like what you get


when you get there we don't know. Let's finish with The Independent.


We will just for a moment look at the cricket.


None of us particularly... We will pretend we know something about! We


know that the West Indies beat England in the final in the T20.


Sorry. A quick education in this game.


For Charlie's purposes, basically, the West Indies scored a lot of home


runs. The guy whacked the ball really hard and it went a long way.


It hit the bat and shot across the boundary without touching the


ground. That's the important bit. Sadly. The West Indies won. I did


promise to add a little extra on the bottom. Here is The Independent's


front page which we still get as if it is a newspaper but they're now


online but we are pleased to see it. Charities demand urgent action to


save homeless children. Tell us about this. This is an important


story. Not least for the people who fear that The Independent going


online will lose its value. We are completely committed to this kind of


story. This is all about councils moving families in social housing


out of their area and failing to provide information to the receiving


council about vulnerable children or vulnerable adults indeed. It is


causing a lot of problems and it's only going to get worse. Why is this


happening now particularly? Is it to do with the cuts to councils? Cuts


to councils, cuts to housing benefit, and the continuing problem


of high house prices in London. See, I said I would do what I could and


we did it. Your editor will be thrilled. That's The Papers. Charlie


and John will be back at 11. 30pm. Bar the doors so Charlie can't


leave! Up next, it's Meet The


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