04/08/2016 The Papers


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Hello and welcome to our look ahead at what the papers will bring us


tomorrow, with me broadcast and former football administrator David


Davis and political commentator and former Labour director of


communications land price. Tomorrow's front pages. Starting


with the Financial Times. That headlines with the Bank of England's


decision to cut interest rates to their lowest level since it was


founded more than three centuries ago. A young woman who was stabbed


during a knife attack in central London, which also resulted in the


death of another woman, describes her ordeal in the Metro.


Interest rates falling to an historic low. The Daily Mail focuses


on the announcement of David Cameron's resignation honours list,


saying it's an insult to voters. Dame Lowell Goddard's decision to


quit as head of the public enquirer into institutional child abuse is


featured on the front of the Guardian. The Telegraph has a


picture of some of Russia's Olympic team after more than two thirds of


the athletes in the country were given the all clear to compete in


Rio. The Times headlines with the stepping down of the judge heading


the child abuse enquirer, saying the investigation is now in crisis. --


child-abuse inquiry. Starting with the Financial Times, this headline,


Mark Carney issues stark warning with package to ease the downturn.


Not just quantitative easing, not a reduction in interest rates, but a


dramatic reduction in his prediction, the bank's prediction of


economic growth. In so many ways we are in uncharted territory here.


Post Brexit. It's against that background that today's statement


from Mr Carney should be seen. The public perception, my instinct is,


is that Brexit happened, Brexit won, day has followed, Knight has


followed day. Life has gone on. Some of the papers whose aborted Brexit


previewed it last week and the beginning of this week, here comes


the bad economic news. My goodness there was plenty of it today, growth


down, unemployment up. Saving is a nightmare. Your holidays are going


to cost much more. Meanwhile there is a man sitting on a beach in


Corsica, former Prime Minister, who seems, you know, you'd think he must


feel very upset. Yet he thinks, eventually committee is going to be


vindicated. We don't know yet. He may be vindicated in his predictions


about the damage that will be done by Brexit, but his political


reputation, that'll take a lot longer to recover, because it was


his policy, his strategy, to have a referendum in the first place.


Principally to try and resolve difficulties within the Conservative


Party. We are seeing the cost of that. And the decision taken to vote


for Brexit. Mark Carney is in a difficult position as governor of


the Bank of England, he doesn't want to be seen to be talking down the


economy. Some have accused him of that. He says, we have levers in our


hands that can help with this. He's in no doubt about the seriousness of


the situation and individual families will be a lot poorer. They


say you can talk yourself into recession but no chance of the Daily


Express doing that. The same story but rather a different take on


exactly the same story with a headline Britain will succeed after


EU exit, and the rate cut to boost economy. What Mark Carney's saying


is we are teetering on the edge of recession, .1% away from the


possibility of a technical recession, yet the Daily Express,


who desperately wants us all to believe voting for Brexit was a good


thing, tells us this is good news somehow. It does seem to be turning


the facts on their head. Not necessarily anything new. The very


first sentence, Britain will prosper out of the EU. The Bank of England


confirms. Did they? I'm not too sure. No mention of the poor old


sailors in all of this. We shall see, too early to judge. Onto the


Guardian. A very different story but one that broke this evening a couple


of hours ago now. The chair of the public enquirer into the


institutional child abuse has resigned, Lowell Goddard from


Auckland New Zealand was the third person in the chair. A 19


resignation letter. The big question is, why? The one line resignation


letter doesn't give us the answer to that question. Normally these


letters are fairly lengthy. They explain the background to the


situation and so on. This one didn't, which convinces me there was


some pretty difficult conversations in person or on the telephone,


between the outgoing chair rant Home Secretary. She's obviously very


unhappy. All the press speculates it's because she came under


criticism for having spent time outside the country, and the amount


of money the whole thing is costing, having her as a New Zealand judge


heading it. It strikes me if she was going to take on the job, knowing


what the British media was like, she must have known this criticism would


come, she should have made it clear, and the Home Office, how many days


she was expected to work, how much it would cost. Do you really know


what it's going to be like until it happens to you? As an individual you


don't. The other interesting thing about it is she's gone immediately,


she hasn't said, I'll hang on until you find somebody else to take my


place, she's got immediately. It puts the government in a very


difficult position. Also, the survivors, and the families of these


survivors, who are feeling very let down. It's the former Home


Secretary, the current Prime Minister, in a very awkward


position. It has to be hugely embarrassing for the now Prime


Minister, the former Home Secretary. She had quite a search to find this


woman. It appears to have fantastic credentials, still has those


credentials. It's quite remarkable she seems to have gone a day after


the story broke in The Times this morning. As to the fact she had


spent 44 days out of the country in addition to her 30 days holiday


allowance. It is an extraordinary story. The sympathy there for the


families is even more so tonight for what they are going through. One


thinks there will be a lot more to come in that story. Chilcott may


seem like a very rapid inquiry. The peerage story. All those leaks we


now know were pretty much correct. David Cameron's resignation honours


list was pretty much outlined. There are some quite unusual, not unusual,


but very exceptional names. Including the chauffeur and a


personal adviser that some call a stylist, to Samantha Cameron. Yes, I


think this is another example of David Cameron's political reputation


being tarnished as he leaves office. I think it does huge damage to the


whole peerage system, the whole honours system, it does no credit to


David Cameron for wanting to give gongs of one sort or another to


people who work for him in various capacities, including his driver.


Even the woman in charge of looking after the appointment process within


Downing Street, though I'm sure she's absolutely first-class and


impartial as a civil servant. It also damages the whole honours


system more generally. People like my good friend here... David Davis


OBD? Who got his OBD for the best of reasons. All of those people have


received those. When the honour system is brought into disrepute, it


tarnishes everyone. What I would say, Lance, is who advised this


Prime Minister to go ahead with his honours list, when his two


predecessors, Tony Blair, Gordon Brown, did not? There is a bit of me


that thinks, is on a beach in Corsica, I'm sure enjoying himself,


there's an element to me that thinks, does he really care about


this? I'm sure he does. It has to have been his decision to do this.


The Daily Telegraph as well just briefly, the Russian athletes being


given the all clear to complete properly. -- to compete. This is the


story it isn't the mass band that many were calling for. It's not. I


have to say there is another side to this argument than what appeared


very strongly in the British media are a couple of weeks ago. The truth


is, no one has yet established that to ban everybody would be legal.


Secondly, not much doubt that if you banned everybody, some innocent


Russian athletes would have been kept out of games which some of them


may have worked for their whole lives to take part in. That is the


other side to the argument. The other side of the story in a sense,


Lance. The Daily Express, an inside page. With Andy Murray struggling


which way to hold the flag, appearing to hold it in front of


Princess Ann. At the start. And the protests about the cost of the


Olympics within Brazil itself. It was a great comedy routine with Andy


Murray and the Princess Royal and Seb Coe on the end. Nearly getting


his eyes poked out by our wonderful Wimbledon champion. A lot of anger


on the streets of Rio about the cost of it all, and whether or not it's


in the interest of the people of the city. Interestingly on the front of


the FT, Sadiq Khan was calling into question whether or not the legacy


from 2012 had done as much for East London as it was supposed to be


doing. The whole business... It may be good for the nation itself, great


for the pride of the nation itself, but for the people living in the


cities where it happens... I was in Brazil 2013 and the World Cup in


2014, absolutely no doubt the Brazilians wanted to stage the World


Cup. The Olympics? Which is a much more convoluted, much more


complicated, much more expensive venture, than the World Cup, it


remains to be seen how keen, in the end... Because sometimes you get


these protests, there were protests in London by the way, at the start


of the games. But overwhelmingly, by the end, the general mood seems to


be, at the time, this was OK. Brazil, I regret to say, are


unlikely to win as many medals as home nations traditionally have done


so. Tell you what, for a change of heart, to end on a lighter note,


let's go back to the Financial Times. Apparently, planners have


been given the green light for a $200 million luxury retirement home


which comes with a tunnel through to Harrods. Who would have thought it?


Are you putting in a bid? David is slightly closer to retirement than


me and could afford it a little bit better. An outrageous slur! I expect


a letter from your solicitor, yes. I agree. I also think he's got much


better taste than to shopping habits. I could tell you about going


up five floors of escalators inhabiting the days of Mr Al Fayed,


the former owner. Have I time to tell the story? Kevin Keegan was the


Fulham manager, we wanted him to be manager of England. I went to see


Mohamed Al Fayed, he gave me a gold bar. The question was, could I take


the gold bar of chocolate back to the FA in Harrods bag without a


camera crew, who were always outside, noticing. You should


definitely get a discount on your retirement. That's it for the papers


this evening. Don't forget you can see all the front pages online on


the BBC News website and read detailed reviews of the papers. It's


all there, seven days a week. BBC .co .uk. / papers. A big thank you


to David and Lance.


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