10/04/2016 The Papers


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


With me are Kevin Schofield, who's the Editor of Politics Home,


Nice to have you both here. We were slightly worried that neither of


them would make it because of transport difficulties. The front


pages, then. The Telegraph says David Cameron


will make a 'robust defence' of tax-free gifts within families


when he stands up in The Mirror says the Prime Minister


faces a 'public grilling' over what it calls a 'second secret


stash of shares'. The Times says the focus is now


shifting to the Chancellor, George Osborne, and whether he'll


publish his tax returns, The Guardian has more


on the Panama Papers, alleging links between a top


government tax official and the offshore fund belonging


to Mr Cameron's late father. The FT leads with warnings over


negative interest rates - they're intended to encourage growth


but could undermine consumer spending, according to one major


asset management group. Pressures on A is the top story


for the Metro - it has a story about a grandmother forced to wait


in a corridor for nearly 13 hours. The Express claims that the EU


is poised to launch what it calls a 'power grab' for Britain's


pensions and benefits. It's like Groundhog Day, isn't it?


We will start with the Panama papers and all the fallout. The Telegraph,


one of many with David Cameron's tax affairs on the front page. Why he


needs to do that, Penny, I don't know, because the law says you can.


We keep coming back to the same thing. If it's illegal, the problem,


of course, is when they operate on the margins and it's all about,


let's try and see if we can find a loophole. As we know, it is all


about low poll. The point is, this is not about loopholes, it's


actually the law that says you can give your children this money


without paying tax on it. So what's the problem? Unless you are


inherently disagree with that, in which case, of course there's a


problem, but then there you need to change the law.


There were revelations about these Panama papers and secret deals that


were being done abroad that were being hidden. This has nothing to do


with the Prime Minister, but it's become a very personal story for


him. It has grown arms and legs in the week has gone on. Obviously, his


father set up and run an offshore trust. That was the connection at


first. Downing Street, the way they try to close it down last Monday was


by saying that the Prime Minister's financial affairs are a private


matter, and the thought that would draw a line under it, but that


didn't work out. -- and they thought. Here we are a week later,


and now David Cameron, Parliament is back tomorrow, so he is going into


the Commons tomorrow to talk about this, and he is going to mount, it


says here, a robust defence. This is not really part of the Panama papers


at all, it is about the prime Minster's own financial arrangements


and whether or not he or his family have benefited or have tried to


dodge inheritance tax as a result of a ?200,000 gift from his mother. If


he waited two years, there would be no tax to pay. The whole thing is,


this all started when there was no absolute full and frank confection,


as it were. If that had been the case, it would all have probably


been, I don't know, but the suggestion is it would have been


dust and done by now. First day, this is what happened, Bash Bosh,


all done. The sums of money involved are beyond the wildest dreams of


most people. The fact that the Prime Minister run the arms -- only earns


?140,000. The figures are huge, and that is what is causing the alarm.


If you look at the other front page... Would you like us to move


on? I really was just... Let's do it anyway. All right! I just wanted to


point to the Guardian, which is what many people will be feeling. This is


not the story on the left. It is the other one which says the ultra rich


are opting out of society while controlling it. Whether or not you


agree, there are many people who feel that is the case. Indeed. Shall


we look at the story we have boxed off on the left? Kevin. Again, as


you say, this Panama papers then broke a week ago. There may be still


a few weeks of this to run. The story they have today, or tomorrow


rather, is that the head of HM RC, the Inland Revenue, which has been


put in charge by David Cameron of investigating the Panama papers and


whether any illegal activity has taken place, it turns out his name


is Edward Troop, a former partner in a law firm whose clients included


David Cameron's father's overseas trust, Blairmore Holdings. It is a


bit convoluted uncomplicated. In actual fact, six paragraphs down, it


says there is no suggestion of wrongdoing. But they've raised it


anyway! Isn't that the whole thing? It is not quite poacher turned


gamekeeper, but they have that. They have to have people with expertise


who can go in and oversee the industry. There is a pool of


experts. I expect that what they are insinuating in some way, even though


there is no wrongdoing, is that it is all very cosy and everybody knows


everybody. David Cameron, in another attempt to draw a line under this,


has set up the tax force that will report to the Chancellor later in


the year. They are trying to make out that if HM RC are in charge of


it and the guy who is in charge of HM RC was in some way connected to


the Panama papers... How independent can it be? Is it not a little bit


suspect is mac we found out the Prime Minister is going to make this


statement tomorrow in the House of Commons. There is also some


suggestion as well that he will talk about making a criminal offence if


companies and their employees are found to be aiding and abetting


evasion. They have said that before. This may be David Cameron trying to


reiterate it and show that this isn't something the Government has


stumbled upon because he is in a bit of bother, that they are actually


taking steps already. To be fair, they have done a bit on tackling tax


avoidance and corruption. It's just, I think, people will look at it and


think, this all looks like shutting the stable door after the horse has


bolted. It is a whole herd of forces. Anybody can put the money


offshore, if you know what you're doing, and if you have enough money.


But most people don't have, do they? It comes back to the essential


things in which is, these people say we are all in it together, and it


feels like we are all in it together apart from the people at the top.


That is how it feels to a lot of people.


The Labour Party would like that to change. The New Dave says, isn't it


time we demand all MPs tell the truth about tax. Full transparency.


Labour are suggesting it should be mandatory for MPs to publish details


of any offshore holdings, because a tax return one tell you that. No, it


want. We're talking about full disclosure in that case. Jeremy


Corbyn on TV this morning has agreed that all MPs, or even anyone


standing to be an MP, even, he said political journalists - I'm not sure


about that! Nothing to hide! It looks like this is the direction


we're heading at an -- heading in at the moment. He didn't touch on


inheritance tax? He didn't want to pursue that. A lot of people are


saying, what about Tony Benn, who left quite a bit of money to his


family? That was... Again, it is all about... It is legal. Ed Miliband as


well had an arrangement with his mother. We should all be so lucky.


They are saying at the moment that perhaps it should be overhauled at


the moment because it unfairly penalises the middle classes.


That's it - tax done, for this hour. The Financial Times - China admits


steel glut to stay as executive attacks naive Europeans. The blame


is being firmly laid at the door of the EU. And Britain in particular,


for not tackling the Chinese steel glut. Yes, around 40,000 British


steel workers face a very uncertain future, to put it mildly, as a


result, mainly, of cheap Chinese steel being dumped on the market.


The head of US steel is saying it is all Europe's own fault because they


could have taken steps to stop China from doing this and have chosen not


to. The states have put massive tariffs on Chinese steel. They are


saying that Europe shouldn't be supporting the WTO's bid to make


China a market economy, because it is still essentially a Communist


country got up he is throwing the blame on Europe, saying, there is no


point in blaming Europe now. -- the Chinese will be a huge market.


But at what cost to us? In manufacturing, we keep on getting


dreadful figures about it and industry. You have to sort of say,


at what point do we need to protect the workers and the industries that


we need? In the future, we will be purveyors of fine waiters and


waitresses. And call centres. Service industries to the world.


I and possibly Penny, need to declare an interest, as we are from


Leicestershire. We didn't have a football team. Touching distance is


the headline. They got seven points clear. You have never been to


Leicester. Fantastic story, whoever you support. Unless you are a


Tottenham fan, because they are the only team that can release top them


in the league. If you are neutral or a supporter of another club, it is


incredible. It would be the most incredible story of the Premier


League a, and maybe going back to the 70s. -- the Premier League era.


They have created, without doubt, the greatest team. You just hope


that they can see it over the line. Jamie Vardy got a lot of credit


because he scored the goals. He has scored 20 goals, the most since Gary


Lineker in 1984. Gary Lineker said that if Leicester win, he will... He


said he will present the first Match Of The Day. I was asked to do the


news. In the event that it happens. Kasper Schmeichel, the goalkeeper, a


very clean sheet. They have no real superstars in their team. They are


more than the sum of their parts. There are no prima donnas, just


great, traditional sporting players. I was reading an article in one of


the weekend magazines about all the supporters. They were just so


excited for stop its lovely. You hope for their sick that they can


see it through, because the disappointed if they don't would


be... Don't! My house, they would be wearing black armbands.


The Telegraph - town hall planning chiefs sending drones. What's that


about? Drones could be used to check on planning applications will stop


it is being used by councils to fly over the homes of people seeking


planning approval. Two councils admitted that they have been used.


They are using them -- they have used them in the past check on the


condition of council buildings. Of course, the problem is about privacy


and all the rest of it. Two drones for five grand - not bad. Years ago,


people used to come to the door saying, we have flown over your


house and taken a photo, would you like to buy? I think that was in the


1980s. I had somebody not so long ago, but where I live it is a lot


like the 1980s. They sold them to you. You would have a big old


photograph or stop it is quite sinister, the drone technology. --


big old photograph. It's quite sinister, the drone technology.


That is it for this hour. We will be back in an hour or more. Stay with


those here on BBC News. At 11pm, the row over the primer is the's tax


affairs continues as Labour continues to call for David Cameron


to reveal more information.


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