10/04/2016 The Papers


10/04/2016

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

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

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

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them would make it because of transport difficulties. The front

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pages, then. The Telegraph says David Cameron

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

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when he stands up in The Mirror says the Prime Minister

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

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

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

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publish his tax returns, The Guardian has more

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on the Panama Papers, alleging links between a top

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government tax official and the offshore fund belonging

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

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negative interest rates - they're intended to encourage growth

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but could undermine consumer spending, according to one major

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asset management group. Pressures on A is the top story

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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There were revelations about these Panama papers and secret deals that

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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companies and their employees are found to be aiding and abetting

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

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

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

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

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

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

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

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

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

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

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

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That is how it feels to a lot of people.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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the moment because it unfairly penalises the middle classes.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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affairs continues as Labour continues to call for David Cameron

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to reveal more information.

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