18/05/2016 The Papers

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

With me are the financial commentator Louise Cooper

and the deputy editor at the Daily Express,

Tomorrow's front pages, starting with...

The Financial Times reports that the number of foreign EU

nationals working in the UK has reached record levels -

a statistic it says has been seized upon by those campaigning

And that story's also the lead in the Daily Mail.

The deal between the BMA and the government in the junior

doctors dispute makes the front page of the Metro.

The Telegraph leads with comments from the Bank of England's chief

economist, who says the pensions system is too complicated

The Guardian says a government-commissioned report

into antibiotic effectiveness will call on pharmaceutical

companies to fund the development of new drugs.

While the Mirror warns that the Zika virus could spread to places

in Europe popular with British holiday-makers.

And the Queen's Speech makes the front page of the Times,

with the Government's pledge to give everyone the right

Every flavour of some of the front pages. Let's look at those and some

of the others. Michael, tell us about the deal for junior doctors.

There should be about coming up. The good news breaking earlier on, we

hope it is good news, the bitter row between the government and junior

doctors. The BMA playing hardball with the government, backing down.

Copper mines on both sides. Jeremy Hunt, the Health Secretary, saying

this is a win for everybody. The BMA excepting that doctors will get the

same rates for everyday, including weekends. It had been a thorny

issue. Over seven weekends, they would get a premium. There has been

backing down. The government originally offering 13%

across-the-board, now 10%. Whether the doctors will actually agree to

this, I don't know. Because it has dragged on so long, the BMA started

to realise they were losing the goodwill of the public if they kept

on with this stance. Wait and see. 40,000 members voting, interesting

to see what occurs. You raise the question about where they will vote.

That is where the Guardian takes it? Whether junior doctors will back it.

There is a backlash from junior doctors are unhappy about the terms

agreed by the union. The vote is not until June. We have to wait over a

month until it. Possibly a little too early to celebrate, if the

junior doctors do not back the union. In terms of the deal, you can

get 10% increase in pay if you work one in two weekends. Interesting to

see family people get extra pay working weekends. In terms of

unsocial hours, 37% increase in the basic pay. We have just had average

earning figures, rising something like two percent. Doing five times

better than the average of the UK. What is interesting about this, you

mentioned the doctors not liking it, reading further down, a quote from

one junior doctor, it is a question, who the ones that don't like blame.

One saying it is the BMA's term for propaganda, selling us this is a

good deal, when it is the organisation negotiating. It is the

same amount of doctors doing more work five, to seven days. They often

said it was not about money, it was about safety concerns. Also saying

it is going to devalue the worklife balance. People value junior

doctors, but interesting to see what the public reaction is to the vote

if they decide not to accept it. The public reaction to pull the people

not getting ten, or 11% pay rises this year, and have not had one for

many years. Let's coach of the other story in the Guardian. Radical plan,

says the Guardian, to halt the scourge of drug resistance will stop

about antibiotic controls. This is Jim O'Neill, X Goldman Sachs

economist, multimillionaire, make the George Osborne. -- mates with

George Osborne. Always appears by his side in pictures. He was given

his ministerial position to look at and Faye ticks. He has come out with

proposals, that the drugs industry needs to pay or play. Either you

invest in new antibiotics, or we force you to pay. All very good, we

are only one country, this is a worldwide problem. One of the

problem is, for instant stability laces resistance, the complicated

mix of antibiotics has not been given around the world. This is a

global club. You are looking at an organisation like the world health

organisation. To steer something? He needs to get them on board. The

other thing he has said is to ban doctors prescribing and 56 until

carrying out tests. The last time I went to the GP to ten days to get my

first results back. He comes from Goldman Sachs, click your fingers,

the world changes. Interesting to see how doctors react. They had to

make these key diagnosis decisions very quickly. He says he finds it

incredible people make diagnosis on immediate symptoms. Sometimes you

have to, or people die. The association of the British

pharmaceutical industry have reacted, they recognise the need for

a collaboratively sponsored. That means let someone else do it. The

argument is, there has to be some sort of financial incentive for

companies to look into things they otherwise might not do. The cost of

developing drugs is absolutely massive. Takes over a decade.

Clearly cheaper and easier to do generic drugs. Good luck on that

one. You would think the incentive would be to sell a lot more? Being a

drugs company. Is that not incentive enough? Pay a fee quick, develop

them, cure or the things you want to kill, sell a lot of drugs? The

Telegraph. You would think Goldman Sachs would understand capitalism?

Will you kick ass off. The bank Chivu cannot make sense of pensions.

They are leading with this. Andy Hell Dane is the Bank of England's

chief economist. He is a lively wondered how you are going to put

that. Lively is good. He came back negative interest rates, proposing

the idea of getting rid of cash. He thinks outside the box. He sounds

really annoying. If you are on a final salary scheme, you are

absolutely fine. You people are. As in my parents' generation, they are

things of the past. They have died, pretty much extinct. The problem is

we have to look after our own retirement. The pensions industry

makes a lot of money out of confusing us. My personal

experience, working in the financial service industry, for a long time,

they deliberately make it complex, so consumers do not understand it.

They can make extraordinary amounts of money. Capitalism? Depressingly.

One of the big things is fees. 30, 40 year basis, how long people save

for a pension. If you are charged, 1.5%, it is possible they pensions

company can take three quarters of the upside. Most people do not

understand that. The pensions industry is very, very reluctant to

tell us about fees. He says himself, the advisers do not have a clue what

they are advising people. Advisers say they do not have a clue, not a

basis for sound financial planning. This comes on the back of a 600 page

report. That was not light reading. He talks about how people are

falling out of love with the financial sector. You cannot go to

the bank. People say you cannot see your bank manager, you cannot see

your cashier anymore. People are losing trust even more with the

financial industry. The more they shut banks on Street, evil are

losing trust. Michael, let me take you to your paper. Migrant worker

numbers surging, implement surging faster than the British workers.

Keeping wages low. It has been left on by Brexit supporters. -- let on.

Lunch and 29,000 foreigners, 224,000 EU migrants finding work in Britain.

At the same time, the UK workers rising just 180,000. Iain Duncan

Smith pointing out of these sorts of jobs, low-wage, low skilled,

attractive to migrants will stop that keeps low wages down. They love

the companies are taking advantage of it, then. A record high. -- we

have 75% employment, a record high. If we get out of the EU, we can stop

these migrants coming in, wages would give up. These are due to

fiscal studies save this data should not be used, they caution data. The

first time the delegates press have the same headline as the Financial

Times. Does not happen often. We're just as clever. The Financial Times

looks at the data in different ways, the Daily Express saying

essentially, more than half of the new jobs going to VE and migrants,

the Financial Times looks at the percentage of the working population

that comes from you. Quite startling. A decade ago with 2.6% of

workers came from the EU, three years ago that was 4.8%. Now 6.8%.

Extraordinary growth. The point about the ONS data, many say that

data underestimates the scale of the workers coming into the UK. Does not

sign up with National Insurance statistics. One more, with the

Financial Times. The U2 frets -- PE threatening to force Netflix and

Amazon to 20% European concept. You wonder what going to watch. The car

chases, things blowing up in America, what people want to see. --

content. The BBC does lots of educational things. Netflix, Amazon,

you can relax away from that. PE you, if you have not made your mind

up, they want 20% of the capital to have European films and

documentaries. Do we want to see that, or something blowing up in LA?

Answer that briefly. French radio stations had to do the same.

Complaints in the French media the same old, tired and cliched French

pop songs throw in on-air to make the craters. The French are very

upset about this. Johnny Halliday. On that note of European harmony, I

have to bring things of the close. That is it tonight. All of the front

pages online on the BBC News website, you can read in detail the

review of the papers for you seven days a week. You can see us there.

Should be posted on the face shortly after we have done our job. Thank

you, viz and Michael. -- Louise and Michael.

Quite a soggy day for some of us today. Quite a few downpours, some

hail and