18/05/2016 The Papers


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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


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