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Hello and welcome to our look ahead to what the the papers will be
With me are the broadcaster Henry Bonsu and the former
Labour Trade Minister Lord Digby Jones.
Tomorrow's front pages starting with...
The Telegraph says there's growing speculation over
the Prime Minister's tax arrangements after his late father
Ian was named in the Panama papers. More on the leaked papers
It says the new Fifa boss elected to clean up world football
is the latest name to be connected to the scandal.
The Metro reports David Cameron has denied he or his family have
The Financial Times leads with a crackdown
on corporate tax loopholes by the Obama administration.
It says multinationals are furious at attempts to stop them
Reports that criminals have used tax loopholes to invest in London
properties is in the Times. It also carries a photograph of the woman
murdered by two teenage girls who were convicted today.
It says 1.8 million illegal migrants entered the EU last year.
A similar top story for the Daily Mail which says a staggering number
of jihadist are exploiting the crisis.
And the New Day carries a photo of Lucca, the dog
who is being awarded a medal for military bravery.
We will dip into some of those. Take us to the Telegraph, a lot more
panama talks with reference to the Prime Minister. The picture they
have chosen is pretty good because it shows him looking slightly
invasive, he is half peering over his glasses to give the impression
of a guy who is being pursued. I am not sure how much of a mystery there
is. He was asked a straight question, do you or have your family
ever benefited from any offshore trusts, the implication that there
is one started by his father and is worth today about ?35 million, his
father having died five or so years ago. He carefully responded in the
present and saying, I am the Prime Minister, I get my salary, I have
got my house and my savings and that is it. I do not have any shares or
offshore trusts or funds, nothing like that. Downing Street issued a
couple of statements later to clarify what he said and said, it is
time to put up or shut up on the Prime Minister. Does the mystery
deepened? I agree with Henry, the photograph is one of those which has
been taken greatly by somebody who shows a man under pressure. It looks
like he is under pressure, that is what press photographers do. It
would have been better that instead of saying I do not benefit, my
family does not benefit, these are the facts of the matter. This is
what my father did, I have no control over that, this is how the
family benefited, but I have not and do not. Or I did, but I do not now.
Get out there with it and get the initiative. The Telegraph say,
rather than qualified and highly specific statements he would be far
better off being completely transparent. Then he would kill it.
He has got a good answer if he says, I have not done this, but my dad
did. The company that his father had was called Blair Morant Holdings.
And then there is a cartoon on the far right. The man is looking and
saying, there is a triangle in Bermuda where all our money goes. It
is difficult for the Prime Minister because he has pushed this issue. He
says he will in a conference in an's time. There are two reasons why
politicians are pushing it, one is because they are F after every penny
they can get. But you cannot ask all these people who have not got the
value of the money to do it. You need to be earning big money for it
to be worth your while. But they are paying a lot of tax. Sweetheart
deals. The Metro says Cameron, put up or shut up. I think this has
legs, as they say in Fleet Street. A final paragraph in the Telegraph. It
says David Cameron inherited ?300,000 in 2010 and he may have
avoided reference to the past because of that. We shall maybe find
out more. Take us to the Guardian. The Guardian are running a big
article on one aspect of it which is coming out records of some other guy
in the panama scandal. It is somebody who has been buying and
selling football television rights. One of the agreements and was
prepared and signed on behalf of of the guy who has just become the Fifa
achieved. There is not one scintilla of accusation in the Guardian that
he has done anything wrong and there is nothing to say that we should say
he ever has and that is important to say. I am glad you have said it, I
would have felt duty bound to say so. It is what happens on your
watch. But hear what you have got is something coming out of panama and
it is significant that we have not heard anywhere near everything that
is coming out of this yet. Here is somebody who got voted in, he is
here in Fifa to clear it up in the post-blatter era and he is in
trouble after three and a half minutes. It is not that he did
anything wrong, it is the association, the perception, and
that will tarnish his image before he has even started. Fifa has been
hammered over the past few years, but Uefa where Gianni Infantino was
previously, they have so far avoided this level of problem and scrutiny.
But because he was there beforehand and his name appears, that is one of
the reasons why people will now look as closely at Uefa as they have at
Fifa. Let me move it on. The Financial Times and Chris land. This
one is not by association like Fifa. This is a serving leader of a
country, democratically elected, the Icelandic Prime Minister. I will let
Henry have a go at pronouncing his name, not me. Here is someone in
office who has actually been caught up in this scandal and rightly he is
resigning. But the interesting thing is on day one he did not, so 10,000
people, which is... They reckon 20 2000. The population of Iceland is
just over 300,000. It is amazing, they have said we will not put up
with this. It calls into probity people who are democratically
elected when they stand there and say, vote for me. I can pronounce
his name. I think he sold his shares in the company and a question to his
wife for $1 or whatever. Then he was asked about it on camera and walked
out of the interview saying it was ridiculous. A few years ago one of
their main banks went under and his wife stood to benefit from decisions
that he made as Prime Minister. He was not Prime Minister when the bank
went down. He was in the years following. I do not think it was on
his watch when the bank happened. I want to squeeze the times in before
we talk about Tatar 's real. -- Tata steel. A lot of properties in London
at the top and are owned by companies were, according to the
Times, what a surprise, where are these companies based? Panama. So
you have got people who are from countries like Nigeria, Azerbaijan,
which I mentioned, Chile, and all these properties are in London and
they are actually part of the problem and the issue. I believe
London is the capital of the world at the moment, it has made an
enormous success in so many areas, but it does nothing for the image if
you have got these people wrapped up in shady deals. I am going to move
back to the Financial Times. We will bypass one story and then talk about
Port Talbot. A huge story, very important to get this right for the
government. Huge numbers of jobs, they are talking about 3000 in this
piece. But if you look further down the value chain there are far more
jobs involved. Everybody is putting their hopes on the founder of the
commodities group Liberty House. But he has a list he wants to be
satisfied before he does anything. Power, pensions and plant. The
pensions are huge. 15 billion. In a former life I used to be a corporate
lawyer and I used to buy businesses. I can tell you now if I was acting
for a client to buy this I would say, I am not picking up 15 billion
in pensions. A lot of that is final salary schemes which do not happen
any more and it happened when British Steel was owned by the
taxpayer. In Germany the exempt the big power users from the green levy.
The left in Britain that says all these businesses, we have to tax
them... Most of the left. But actually it will put a lot of people
on the dole. Thirdly, it is environmental. What is this about
the left? I do not expect most people in the south-east to nowhere
Port Talbot is, but if you drive past it, it is huge. His biggest
problem will be that he would get rid of the blast furnace and put an
electric arc furnaces would not stand scrap metal. That is what he
does. But there is a different customer for that. The quality is
not quite so good bringing it down from slab to sheet to get it into
the auto industry. It is OK, but it is not quite so good. Would people
buy it? Yes, but the quality would not be so good. I think Sajiv Javid
is playing a blinder. He is the first Business Secretary for a long
time, but he has been in business. There is a novelty. Most people have
never run their own business. He has run a business. Gentle man, just as
it was getting lively, time is up. Time is up. It is a pleasure. All
the front pages are online on the BBC News website where you can read
the detailed review of the papers. It is all there for you. Each
night's edition of the papers is posted on the page shortly after we
have finished. Thank you Henry and Digby. Goodbye.
Most of us today managed to get away with some sunshine, there were a
couple of showers about, but that was pretty much it.