05/04/2016 The Papers


05/04/2016

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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Transcript


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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 the broadcaster Henry Bonsu and the former

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Labour Trade Minister Lord Digby Jones.

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Tomorrow's front pages starting with...

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The Telegraph says there's growing speculation over

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the Prime Minister's tax arrangements after his late father

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Ian was named in the Panama papers. More on the leaked papers

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It says the new Fifa boss elected to clean up world football

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is the latest name to be connected to the scandal.

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The Metro reports David Cameron has denied he or his family have

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The Financial Times leads with a crackdown

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on corporate tax loopholes by the Obama administration.

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It says multinationals are furious at attempts to stop them

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Reports that criminals have used tax loopholes to invest in London

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properties is in the Times. It also carries a photograph of the woman

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murdered by two teenage girls who were convicted today.

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It says 1.8 million illegal migrants entered the EU last year.

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A similar top story for the Daily Mail which says a staggering number

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of jihadist are exploiting the crisis.

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And the New Day carries a photo of Lucca, the dog

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who is being awarded a medal for military bravery.

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We will dip into some of those. Take us to the Telegraph, a lot more

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panama talks with reference to the Prime Minister. The picture they

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have chosen is pretty good because it shows him looking slightly

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invasive, he is half peering over his glasses to give the impression

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of a guy who is being pursued. I am not sure how much of a mystery there

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is. He was asked a straight question, do you or have your family

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ever benefited from any offshore trusts, the implication that there

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is one started by his father and is worth today about ?35 million, his

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father having died five or so years ago. He carefully responded in the

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present and saying, I am the Prime Minister, I get my salary, I have

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got my house and my savings and that is it. I do not have any shares or

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offshore trusts or funds, nothing like that. Downing Street issued a

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couple of statements later to clarify what he said and said, it is

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time to put up or shut up on the Prime Minister. Does the mystery

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deepened? I agree with Henry, the photograph is one of those which has

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been taken greatly by somebody who shows a man under pressure. It looks

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like he is under pressure, that is what press photographers do. It

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would have been better that instead of saying I do not benefit, my

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family does not benefit, these are the facts of the matter. This is

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what my father did, I have no control over that, this is how the

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family benefited, but I have not and do not. Or I did, but I do not now.

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Get out there with it and get the initiative. The Telegraph say,

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rather than qualified and highly specific statements he would be far

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better off being completely transparent. Then he would kill it.

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He has got a good answer if he says, I have not done this, but my dad

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did. The company that his father had was called Blair Morant Holdings.

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And then there is a cartoon on the far right. The man is looking and

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saying, there is a triangle in Bermuda where all our money goes. It

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is difficult for the Prime Minister because he has pushed this issue. He

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says he will in a conference in an's time. There are two reasons why

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politicians are pushing it, one is because they are F after every penny

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they can get. But you cannot ask all these people who have not got the

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value of the money to do it. You need to be earning big money for it

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to be worth your while. But they are paying a lot of tax. Sweetheart

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deals. The Metro says Cameron, put up or shut up. I think this has

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legs, as they say in Fleet Street. A final paragraph in the Telegraph. It

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says David Cameron inherited ?300,000 in 2010 and he may have

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avoided reference to the past because of that. We shall maybe find

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out more. Take us to the Guardian. The Guardian are running a big

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article on one aspect of it which is coming out records of some other guy

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in the panama scandal. It is somebody who has been buying and

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selling football television rights. One of the agreements and was

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prepared and signed on behalf of of the guy who has just become the Fifa

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achieved. There is not one scintilla of accusation in the Guardian that

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he has done anything wrong and there is nothing to say that we should say

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he ever has and that is important to say. I am glad you have said it, I

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would have felt duty bound to say so. It is what happens on your

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watch. But hear what you have got is something coming out of panama and

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it is significant that we have not heard anywhere near everything that

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is coming out of this yet. Here is somebody who got voted in, he is

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here in Fifa to clear it up in the post-blatter era and he is in

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trouble after three and a half minutes. It is not that he did

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anything wrong, it is the association, the perception, and

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that will tarnish his image before he has even started. Fifa has been

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hammered over the past few years, but Uefa where Gianni Infantino was

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previously, they have so far avoided this level of problem and scrutiny.

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But because he was there beforehand and his name appears, that is one of

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the reasons why people will now look as closely at Uefa as they have at

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Fifa. Let me move it on. The Financial Times and Chris land. This

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one is not by association like Fifa. This is a serving leader of a

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country, democratically elected, the Icelandic Prime Minister. I will let

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Henry have a go at pronouncing his name, not me. Here is someone in

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office who has actually been caught up in this scandal and rightly he is

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resigning. But the interesting thing is on day one he did not, so 10,000

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people, which is... They reckon 20 2000. The population of Iceland is

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just over 300,000. It is amazing, they have said we will not put up

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with this. It calls into probity people who are democratically

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elected when they stand there and say, vote for me. I can pronounce

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his name. I think he sold his shares in the company and a question to his

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wife for $1 or whatever. Then he was asked about it on camera and walked

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out of the interview saying it was ridiculous. A few years ago one of

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their main banks went under and his wife stood to benefit from decisions

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that he made as Prime Minister. He was not Prime Minister when the bank

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went down. He was in the years following. I do not think it was on

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his watch when the bank happened. I want to squeeze the times in before

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we talk about Tatar 's real. -- Tata steel. A lot of properties in London

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at the top and are owned by companies were, according to the

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Times, what a surprise, where are these companies based? Panama. So

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you have got people who are from countries like Nigeria, Azerbaijan,

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which I mentioned, Chile, and all these properties are in London and

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they are actually part of the problem and the issue. I believe

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London is the capital of the world at the moment, it has made an

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enormous success in so many areas, but it does nothing for the image if

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you have got these people wrapped up in shady deals. I am going to move

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back to the Financial Times. We will bypass one story and then talk about

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Port Talbot. A huge story, very important to get this right for the

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government. Huge numbers of jobs, they are talking about 3000 in this

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piece. But if you look further down the value chain there are far more

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jobs involved. Everybody is putting their hopes on the founder of the

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commodities group Liberty House. But he has a list he wants to be

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satisfied before he does anything. Power, pensions and plant. The

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pensions are huge. 15 billion. In a former life I used to be a corporate

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lawyer and I used to buy businesses. I can tell you now if I was acting

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for a client to buy this I would say, I am not picking up 15 billion

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in pensions. A lot of that is final salary schemes which do not happen

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any more and it happened when British Steel was owned by the

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taxpayer. In Germany the exempt the big power users from the green levy.

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The left in Britain that says all these businesses, we have to tax

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them... Most of the left. But actually it will put a lot of people

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on the dole. Thirdly, it is environmental. What is this about

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the left? I do not expect most people in the south-east to nowhere

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Port Talbot is, but if you drive past it, it is huge. His biggest

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problem will be that he would get rid of the blast furnace and put an

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electric arc furnaces would not stand scrap metal. That is what he

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does. But there is a different customer for that. The quality is

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not quite so good bringing it down from slab to sheet to get it into

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the auto industry. It is OK, but it is not quite so good. Would people

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buy it? Yes, but the quality would not be so good. I think Sajiv Javid

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is playing a blinder. He is the first Business Secretary for a long

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time, but he has been in business. There is a novelty. Most people have

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never run their own business. He has run a business. Gentle man, just as

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it was getting lively, time is up. Time is up. It is a pleasure. All

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the front pages are online on the BBC News website where you can read

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the detailed review of the papers. It is all there for you. Each

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night's edition of the papers is posted on the page shortly after we

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have finished. Thank you Henry and Digby. Goodbye.

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Most of us today managed to get away with some sunshine, there were a

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couple of showers about, but that was pretty much it.

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