:00:16. > :00:22.Hello and welcome to our look ahead at what the papers will bring us
:00:23. > :00:25.tomorrow, with me broadcast and former football administrator David
:00:26. > :00:30.Davis and political commentator and former Labour director of
:00:31. > :00:34.communications land price. Tomorrow's front pages. Starting
:00:35. > :00:37.with the Financial Times. That headlines with the Bank of England's
:00:38. > :00:40.decision to cut interest rates to their lowest level since it was
:00:41. > :00:46.founded more than three centuries ago. A young woman who was stabbed
:00:47. > :00:49.during a knife attack in central London, which also resulted in the
:00:50. > :00:53.death of another woman, describes her ordeal in the Metro.
:00:54. > :01:00.Interest rates falling to an historic low. The Daily Mail focuses
:01:01. > :01:06.on the announcement of David Cameron's resignation honours list,
:01:07. > :01:10.saying it's an insult to voters. Dame Lowell Goddard's decision to
:01:11. > :01:13.quit as head of the public enquirer into institutional child abuse is
:01:14. > :01:18.featured on the front of the Guardian. The Telegraph has a
:01:19. > :01:22.picture of some of Russia's Olympic team after more than two thirds of
:01:23. > :01:27.the athletes in the country were given the all clear to compete in
:01:28. > :01:32.Rio. The Times headlines with the stepping down of the judge heading
:01:33. > :01:40.the child abuse enquirer, saying the investigation is now in crisis. --
:01:41. > :01:44.child-abuse inquiry. Starting with the Financial Times, this headline,
:01:45. > :01:52.Mark Carney issues stark warning with package to ease the downturn.
:01:53. > :01:55.Not just quantitative easing, not a reduction in interest rates, but a
:01:56. > :02:01.dramatic reduction in his prediction, the bank's prediction of
:02:02. > :02:07.economic growth. In so many ways we are in uncharted territory here.
:02:08. > :02:11.Post Brexit. It's against that background that today's statement
:02:12. > :02:21.from Mr Carney should be seen. The public perception, my instinct is,
:02:22. > :02:28.is that Brexit happened, Brexit won, day has followed, Knight has
:02:29. > :02:32.followed day. Life has gone on. Some of the papers whose aborted Brexit
:02:33. > :02:35.previewed it last week and the beginning of this week, here comes
:02:36. > :02:40.the bad economic news. My goodness there was plenty of it today, growth
:02:41. > :02:46.down, unemployment up. Saving is a nightmare. Your holidays are going
:02:47. > :02:50.to cost much more. Meanwhile there is a man sitting on a beach in
:02:51. > :02:56.Corsica, former Prime Minister, who seems, you know, you'd think he must
:02:57. > :03:01.feel very upset. Yet he thinks, eventually committee is going to be
:03:02. > :03:04.vindicated. We don't know yet. He may be vindicated in his predictions
:03:05. > :03:08.about the damage that will be done by Brexit, but his political
:03:09. > :03:12.reputation, that'll take a lot longer to recover, because it was
:03:13. > :03:22.his policy, his strategy, to have a referendum in the first place.
:03:23. > :03:25.Principally to try and resolve difficulties within the Conservative
:03:26. > :03:28.Party. We are seeing the cost of that. And the decision taken to vote
:03:29. > :03:31.for Brexit. Mark Carney is in a difficult position as governor of
:03:32. > :03:34.the Bank of England, he doesn't want to be seen to be talking down the
:03:35. > :03:40.economy. Some have accused him of that. He says, we have levers in our
:03:41. > :03:44.hands that can help with this. He's in no doubt about the seriousness of
:03:45. > :03:48.the situation and individual families will be a lot poorer. They
:03:49. > :03:53.say you can talk yourself into recession but no chance of the Daily
:03:54. > :03:56.Express doing that. The same story but rather a different take on
:03:57. > :04:01.exactly the same story with a headline Britain will succeed after
:04:02. > :04:09.EU exit, and the rate cut to boost economy. What Mark Carney's saying
:04:10. > :04:11.is we are teetering on the edge of recession, .1% away from the
:04:12. > :04:15.possibility of a technical recession, yet the Daily Express,
:04:16. > :04:19.who desperately wants us all to believe voting for Brexit was a good
:04:20. > :04:24.thing, tells us this is good news somehow. It does seem to be turning
:04:25. > :04:30.the facts on their head. Not necessarily anything new. The very
:04:31. > :04:35.first sentence, Britain will prosper out of the EU. The Bank of England
:04:36. > :04:40.confirms. Did they? I'm not too sure. No mention of the poor old
:04:41. > :04:45.sailors in all of this. We shall see, too early to judge. Onto the
:04:46. > :04:50.Guardian. A very different story but one that broke this evening a couple
:04:51. > :04:56.of hours ago now. The chair of the public enquirer into the
:04:57. > :04:59.institutional child abuse has resigned, Lowell Goddard from
:05:00. > :05:02.Auckland New Zealand was the third person in the chair. A 19
:05:03. > :05:08.resignation letter. The big question is, why? The one line resignation
:05:09. > :05:11.letter doesn't give us the answer to that question. Normally these
:05:12. > :05:15.letters are fairly lengthy. They explain the background to the
:05:16. > :05:19.situation and so on. This one didn't, which convinces me there was
:05:20. > :05:26.some pretty difficult conversations in person or on the telephone,
:05:27. > :05:30.between the outgoing chair rant Home Secretary. She's obviously very
:05:31. > :05:34.unhappy. All the press speculates it's because she came under
:05:35. > :05:37.criticism for having spent time outside the country, and the amount
:05:38. > :05:44.of money the whole thing is costing, having her as a New Zealand judge
:05:45. > :05:47.heading it. It strikes me if she was going to take on the job, knowing
:05:48. > :05:51.what the British media was like, she must have known this criticism would
:05:52. > :05:55.come, she should have made it clear, and the Home Office, how many days
:05:56. > :05:58.she was expected to work, how much it would cost. Do you really know
:05:59. > :06:02.what it's going to be like until it happens to you? As an individual you
:06:03. > :06:07.don't. The other interesting thing about it is she's gone immediately,
:06:08. > :06:11.she hasn't said, I'll hang on until you find somebody else to take my
:06:12. > :06:15.place, she's got immediately. It puts the government in a very
:06:16. > :06:19.difficult position. Also, the survivors, and the families of these
:06:20. > :06:22.survivors, who are feeling very let down. It's the former Home
:06:23. > :06:27.Secretary, the current Prime Minister, in a very awkward
:06:28. > :06:30.position. It has to be hugely embarrassing for the now Prime
:06:31. > :06:38.Minister, the former Home Secretary. She had quite a search to find this
:06:39. > :06:41.woman. It appears to have fantastic credentials, still has those
:06:42. > :06:45.credentials. It's quite remarkable she seems to have gone a day after
:06:46. > :06:53.the story broke in The Times this morning. As to the fact she had
:06:54. > :06:58.spent 44 days out of the country in addition to her 30 days holiday
:06:59. > :07:06.allowance. It is an extraordinary story. The sympathy there for the
:07:07. > :07:11.families is even more so tonight for what they are going through. One
:07:12. > :07:16.thinks there will be a lot more to come in that story. Chilcott may
:07:17. > :07:22.seem like a very rapid inquiry. The peerage story. All those leaks we
:07:23. > :07:27.now know were pretty much correct. David Cameron's resignation honours
:07:28. > :07:30.list was pretty much outlined. There are some quite unusual, not unusual,
:07:31. > :07:36.but very exceptional names. Including the chauffeur and a
:07:37. > :07:41.personal adviser that some call a stylist, to Samantha Cameron. Yes, I
:07:42. > :07:46.think this is another example of David Cameron's political reputation
:07:47. > :07:51.being tarnished as he leaves office. I think it does huge damage to the
:07:52. > :07:57.whole peerage system, the whole honours system, it does no credit to
:07:58. > :08:02.David Cameron for wanting to give gongs of one sort or another to
:08:03. > :08:06.people who work for him in various capacities, including his driver.
:08:07. > :08:09.Even the woman in charge of looking after the appointment process within
:08:10. > :08:15.Downing Street, though I'm sure she's absolutely first-class and
:08:16. > :08:18.impartial as a civil servant. It also damages the whole honours
:08:19. > :08:26.system more generally. People like my good friend here... David Davis
:08:27. > :08:31.OBD? Who got his OBD for the best of reasons. All of those people have
:08:32. > :08:34.received those. When the honour system is brought into disrepute, it
:08:35. > :08:39.tarnishes everyone. What I would say, Lance, is who advised this
:08:40. > :08:43.Prime Minister to go ahead with his honours list, when his two
:08:44. > :08:51.predecessors, Tony Blair, Gordon Brown, did not? There is a bit of me
:08:52. > :08:54.that thinks, is on a beach in Corsica, I'm sure enjoying himself,
:08:55. > :09:00.there's an element to me that thinks, does he really care about
:09:01. > :09:03.this? I'm sure he does. It has to have been his decision to do this.
:09:04. > :09:07.The Daily Telegraph as well just briefly, the Russian athletes being
:09:08. > :09:15.given the all clear to complete properly. -- to compete. This is the
:09:16. > :09:21.story it isn't the mass band that many were calling for. It's not. I
:09:22. > :09:26.have to say there is another side to this argument than what appeared
:09:27. > :09:34.very strongly in the British media are a couple of weeks ago. The truth
:09:35. > :09:40.is, no one has yet established that to ban everybody would be legal.
:09:41. > :09:47.Secondly, not much doubt that if you banned everybody, some innocent
:09:48. > :09:51.Russian athletes would have been kept out of games which some of them
:09:52. > :09:56.may have worked for their whole lives to take part in. That is the
:09:57. > :10:00.other side to the argument. The other side of the story in a sense,
:10:01. > :10:05.Lance. The Daily Express, an inside page. With Andy Murray struggling
:10:06. > :10:11.which way to hold the flag, appearing to hold it in front of
:10:12. > :10:15.Princess Ann. At the start. And the protests about the cost of the
:10:16. > :10:19.Olympics within Brazil itself. It was a great comedy routine with Andy
:10:20. > :10:23.Murray and the Princess Royal and Seb Coe on the end. Nearly getting
:10:24. > :10:30.his eyes poked out by our wonderful Wimbledon champion. A lot of anger
:10:31. > :10:34.on the streets of Rio about the cost of it all, and whether or not it's
:10:35. > :10:38.in the interest of the people of the city. Interestingly on the front of
:10:39. > :10:42.the FT, Sadiq Khan was calling into question whether or not the legacy
:10:43. > :10:47.from 2012 had done as much for East London as it was supposed to be
:10:48. > :10:51.doing. The whole business... It may be good for the nation itself, great
:10:52. > :10:58.for the pride of the nation itself, but for the people living in the
:10:59. > :11:02.cities where it happens... I was in Brazil 2013 and the World Cup in
:11:03. > :11:08.2014, absolutely no doubt the Brazilians wanted to stage the World
:11:09. > :11:13.Cup. The Olympics? Which is a much more convoluted, much more
:11:14. > :11:20.complicated, much more expensive venture, than the World Cup, it
:11:21. > :11:23.remains to be seen how keen, in the end... Because sometimes you get
:11:24. > :11:28.these protests, there were protests in London by the way, at the start
:11:29. > :11:35.of the games. But overwhelmingly, by the end, the general mood seems to
:11:36. > :11:40.be, at the time, this was OK. Brazil, I regret to say, are
:11:41. > :11:46.unlikely to win as many medals as home nations traditionally have done
:11:47. > :11:48.so. Tell you what, for a change of heart, to end on a lighter note,
:11:49. > :11:53.let's go back to the Financial Times. Apparently, planners have
:11:54. > :11:58.been given the green light for a $200 million luxury retirement home
:11:59. > :12:04.which comes with a tunnel through to Harrods. Who would have thought it?
:12:05. > :12:07.Are you putting in a bid? David is slightly closer to retirement than
:12:08. > :12:13.me and could afford it a little bit better. An outrageous slur! I expect
:12:14. > :12:19.a letter from your solicitor, yes. I agree. I also think he's got much
:12:20. > :12:24.better taste than to shopping habits. I could tell you about going
:12:25. > :12:27.up five floors of escalators inhabiting the days of Mr Al Fayed,
:12:28. > :12:33.the former owner. Have I time to tell the story? Kevin Keegan was the
:12:34. > :12:38.Fulham manager, we wanted him to be manager of England. I went to see
:12:39. > :12:44.Mohamed Al Fayed, he gave me a gold bar. The question was, could I take
:12:45. > :12:48.the gold bar of chocolate back to the FA in Harrods bag without a
:12:49. > :12:53.camera crew, who were always outside, noticing. You should
:12:54. > :12:59.definitely get a discount on your retirement. That's it for the papers
:13:00. > :13:02.this evening. Don't forget you can see all the front pages online on
:13:03. > :13:06.the BBC News website and read detailed reviews of the papers. It's
:13:07. > :13:14.all there, seven days a week. BBC .co .uk. / papers. A big thank you
:13:15. > :13:16.to David and Lance.