18/05/2016 The Papers


18/05/2016

No need to wait to see what's in the papers - tune in to 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 the papers will be

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With me are the financial commentator Louise Cooper

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and the deputy editor at the Daily Express,

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Tomorrow's front pages, starting with...

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The Financial Times reports that the number of foreign EU

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nationals working in the UK has reached record levels -

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a statistic it says has been seized upon by those campaigning

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

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The deal between the BMA and the government in the junior

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doctors dispute makes the front page of the Metro.

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

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economist, who says the pensions system is too complicated

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The Guardian says a government-commissioned report

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into antibiotic effectiveness will call on pharmaceutical

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companies to fund the development of new drugs.

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

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in Europe popular with British holiday-makers.

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

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with the Government's pledge to give everyone the right

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

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

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

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

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

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

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

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

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

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backing down. The government originally offering 13%

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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problem is, for instant stability laces resistance, the complicated

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

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

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

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

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

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

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

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

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incredible people make diagnosis on immediate symptoms. Sometimes you

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

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pharmaceutical industry have reacted, they recognise the need for

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

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

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

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developing drugs is absolutely massive. Takes over a decade.

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

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

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

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

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Telegraph. You would think Goldman Sachs would understand capitalism?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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numbers surging, implement surging faster than the British workers.

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

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

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

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

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

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

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

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

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

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

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

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

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

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the Financial Times looks at the percentage of the working population

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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hail and

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