03/04/2016 The Papers


03/04/2016

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


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

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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 Charlie Wells, the European features reporter of the

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Wall Street Journal and John Rentoul, the chief political

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

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

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

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

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

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

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

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for Tata's plant in Scunthorpe. The Daily

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

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

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their GCSEs. The FT leads on jitters in the

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

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Indies all-rounder celebrating victory against England in the final

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

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

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this coverage in many newspapers who were involved in this international

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investigation into these papers which show how the rich and powerful

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

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

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

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

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

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

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

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

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

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Vladimir Putin might have through associate lots of money in secret

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

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

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

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

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these arrangements are. Suspicions have been these things have been

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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extraordinary N a way the one slightly encouraging thing for

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

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

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

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suspicious. British politicians, there are one or two retired

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

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

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

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

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

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

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

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

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

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

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connecting from Panama to Switzerland and how do you police

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

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

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

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

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

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

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

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

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

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

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requires international effort. We see this not just with individuals

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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interesting thing about this story is entrepreneurs are stepping up to

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

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

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

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criticised and will this heart-warming story turn that

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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the conflict of interest between different countries. Turkey wants

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

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

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

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

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

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in currency markets as EU referendum approaches.

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

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

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

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and the international community views the economy in a particular

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

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

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

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

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

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

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

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

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

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

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

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

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

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treaties. Banks take so long to determine where headquarters will

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

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

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

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

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

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

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

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

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

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

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

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We will just for a moment look at the cricket.

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

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

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Sorry. A quick education in this game.

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

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

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

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

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

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

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

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

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

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

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

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

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council about vulnerable children or vulnerable adults indeed. It is

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

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

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

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

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

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

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leave! Up next, it's Meet The

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