05/11/2017 The Papers


05/11/2017

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LineFromTo

might be as high as 27 but we will

be back at a news conference in

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Stockdale, Texas when it begins.

Before that, it's the papers.

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Hello and welcome to our look ahead

to what the the papers will be

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bringing us tomorrow.

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With me are Ruth Lea,

Arbuthnot Banking Group Economic

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Adviser and Ben Chu,

economics editor at The Independent.

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The FT leads on anti-corruption

arrests in Saudi Arabia,

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in which 11 princes

and

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dozens of senior figures are among

those who have been held.

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The Express reports on icy weather

conditions set to hit the UK,

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with the country set to suffer polar

winds and snow.

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The Telegraph has a warning

from the Home Secretary,

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that more ministers are likely to be

sacked over the Westminster

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sexual harassment scandal.

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The Metro reports on the mass

shooting in Texas in which at least

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20 people are reported

to have been killed,

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it also pictures the Queen,

amid the Paradise Papers leak

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into offshore funds.

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The Guardian also reports

on the Paradise Papers.

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Which it calls the world's

second biggest data leak.

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The Times also has that story.

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Let's start with the Guardian. They

have unsurprisingly gone with the

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Paradise papers, because they are

one of the organisations who have

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been providing information in the

first place.

The International

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commission of investigative

journalists or whatever they are

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called. Whatever gets me about this

coverage is we know it is a huge

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link, 13.4 million files have been

hacked. Many of the rich and

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powerful have actually been

implicated in this, but of course

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the papers tend to pick on the

Queen. The Queen's investments in

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various cayman funds, but it's

nothing she has nothing to do with,

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it is the Duchy of Lancaster. It's

very unfortunate they have picked on

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her. But we are where we are, so to

speak. I suppose they think that's

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the sort of catchy story. Yet again,

it brings the whole question of tax

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havens into question. There is

nothing illegal about these tax

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havens of course, it's about tax

avoidance, which is not illegal.

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Some people call it tax planning,

not evasion. There is always this

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feeling of the morality issue. I pay

my taxes, why can't, why do these

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people get away with not paying them

just because they go through tax

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havens where there is zero tax, it's

all secretive? It's always with a

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bit of a smell about it even know

it's not illegal.

And that's why it

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matters to lots of people.

If you

are someone who does not have the

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ability, the facilities and the

amount of wealth to take advantage

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of these things, it does not feel

fair that you are paying a certain

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amount of tax and some people

potentially are not. Ruth says we do

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not know about any illegality

involved in any of the people or

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organisations cited in this, but the

point is that there is so little we

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do now because of the lack of

transparency. We cannot say one way

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or the other a lot of the time. This

is where the difficulties come. In

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relation to the Queen point, Rufus

Wright, it's not the Queen herself

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making the decision to put 5 million

of my money in tax haven, its people

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advising her -- Ruth is right. There

is the issue of the Duchy of

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Lancaster which does manage our

money. They say they have an ethical

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consideration when it put the money

and it would appear if some of this

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money is going into tax savings and

this White House group which is a

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aggressive high Street organisation

which mainly lends the poor people,

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perhaps they have failed to some

degree in living up to those ethical

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considerations in that respect. --

Bright house. There is some

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substance here we have to engage

with.

One of the questions asked of

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the Duchy of Lancaster, and about

who manages the funds.

Moving to the

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Telegraph, as you hint, a moment

ago, with all the different options

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that the newspapers have, in terms

of what they focus on, they have

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gone with the Queen as well.

Indeed.

The poor Queen. I noticed here that

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I'd take Ben 's point about the

morality but they do claim the Queen

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does not manage the Duchy of

Lancaster's investments which are

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decided by the council we have just

implied. It pays tax voluntarily on

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any income, now what tax that is,

perhaps they do pay voluntary on tax

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which is from Cayman Islands. Who

knows. That will be very much in

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focus. I think they have a bit of a

media problem here. They have got to

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sort this out.

Of course, leaving

Buckingham Palace to one side, there

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is more this to come in the next few

days.

There is. Presumably a similar

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pattern to what we have with the

Panama papers, where we will get

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some on the first day, some on the

second day and it will go on as long

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as they've got their names because

it's in the interest of the media to

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string it out. Fair enough, this is

the way of generating publicity

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around their story and the whole

issue. What I would hope is that we

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actually get onto some of the more

substantive issues. It does feel a

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bit like Groundhog Day, there is not

that much difference in what's been

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revealed since the Panama papers

last year. What we really need to

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talk about is the policy response,

things to do with the campaigners

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around this, the registry of these

trusts, the offshore organisations

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which decide how much money can be

paid out and coordination between

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governments to try and sort this

out, rather than the endless...

It

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does require that coordination

because if anything significant is

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going to change, there needs to be

international change.

That's right,

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I quite agree about the Panama

papers because I remember following

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that story and there was going to be

a meeting, I think there was,

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chaired by David Cameron. But

nothing came of it as far as I

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understand. For too many of the tax

havens, it's too beneficial. Who is

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going to throw the advantage away? A

lot of the tax havens are actually

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British territories. That's a

problem. If we close I was down, for

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example, if we made a great

sacrifice, someone else would pick

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up and in the meantime our overseas

tax savings presumably would be

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losing out.

In the end, a cynical

view might say nothing will ever

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change because unless every country

at the same point agrees the same

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thing, some of the money will go

somewhere?

You can't use that as an

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excuse and you certainly can't say

we are taking this seriously as a

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nation, as a government, then say we

don't want to do anything

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substantive, because it means we

will lose some lucrative business

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overseas or some overseas

territories will live out -- lose

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out. There is a danger of saying,

let's wait till we have

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international agreement before doing

anything. As you say, nothing will

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ever happen. In this Groundhog Day

leaks. Do not forget, we will

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probably get more of these leaks

because it's so easy to take a USB

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out of a company now and get that

information out there than it was in

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the past.

Let's stay with the

Telegraph and do with political

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matters closer to home. This is

Amber Rudd, with regards to the

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current scandals emerging of

Westminster.

She is effectively

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saying, it's not over yet. More to

come. I think she is effectively

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saying what everybody else knew.

They have been various lists of

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behaviour, bad behaviour by MPs,

even ministers, circulating. Some of

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those names have been people

involved and forced to step down,

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the Chief Whip Gueye, Chris Finch,

reporting himself to the police over

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some allegations contained in the

mail today. Lots of other names on

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that list. Lots of women likely to

come forward because we are now

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seeing the dam breaking and people

being emboldened them feeling it's

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the right thing to do, to speak up

now, so Amber Rudd is essentially

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confirming what we all suspected,

which is this will keep going.

And

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party leaders meeting tomorrow,

Telegraph talking about today but

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talking about coming up with some

sort of plan.

One is deploying the

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seriousness of this, it's just

terribly unfortunate at this time in

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the government has so many other

problems on its plate and so many

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other challenges. It does seem as

though one of the names very much

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top of the list of concern is Damian

Green, who was the first Secretary,

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State Secretary, and very close to

Theresa. One of her close friends. A

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crucial member of the government. It

does seem all this business about

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pornography on his computer, this to

me, this morning when I saw it in a

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certain Sunday paper, struck me as

being trialled by newspaper. If the

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policeman in question really have

seen this pornography on the

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computer, why on earth was he sell

this to the papers instead of

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actually taking it to the police?

Mr

Green saying now there was not any.

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This appalling, but it's just drip,

drip, drip of implications and I

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find it very unnerving. I'm not

condoning harassment for a second,

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but I just think at this particular

time, it's almost the last thing the

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government need, or having said

that, it's not just the Conservative

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Party.

It is not, it's everybody.

Everyone caught up in this.

We are

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seeing a lot of questions raised

about Labour having promoted one of

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their MPs to the Shadow Cabinet,

after being told by someone that he

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had harassed them. No one is safe,

spotless in this.

It's a mess.

The

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government is faced with the same

issues, similar to tax savings, you

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have to be taken seriously in your

condemnation, you have to act. You

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cannot say we're taking it seriously

and not act. That's the issue the

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government faces the Damian Green in

particular. Though he is obviously

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very close to Theresa May, more

evidence comes out, which I think,

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Kate Maltby who made the excuse

Asians against him says others have

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said things, it will be a bit like

Michael Fallon situation. -- Kate

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Maltby who made the accusation

against him.

He lost his credibility

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I suppose, which again was a great

shame under the circumstances, to

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lose a Defence Secretary who

actually was very confident.

A word

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about coverage at this stage of the

story that still has not fully

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unfolded, sadly, Ruth, this is from

the front of The Express. They go

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into more detail inside with

reference to this shooting in Texas.

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The irony is that when I last of the

papers here with Bennett the story

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was Las Vegas. That was absolutely

horrendous, he is yet another

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horrendous shooting. You just think,

when will this ever stop? I remember

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when we was discussing Las Vegas we

talked about gun-control and I think

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I said at the time that given the

particular interests of the National

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Rifle Association etc, it will be

very difficult in the States to get

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any sort of gun control. But

unfortunately, the consequence is

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that people can get is extremely

easy and then you see this appalling

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massacres. It's Agnes.

With a Las

Vegas so recently in people's minds,

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does that make a difference in terms

of how the politics might take a

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look at this?

As Ruth says, when Las

Vegas happened, there were some

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suggestions that this is surely the

straw that breaks the camel 's back,

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so many have died. Donald Trump

McKnight had said something, maybe

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we will look again at gun-control, I

do not think we have seen anything

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on that front since. As horrific as

this is, a massacre in a church,

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apparently it is always shaping up

to be one of the fifth worst mass

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shootings in history. Yet we get

numb to it. We do, I don't know how

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Americans must feel, seeing this so

often. I am very pessimistic about

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even something as horrific as this

making a substantive difference to

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American attitudes toward

gun-control.

They are all spec

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elating might have been some family

dispute. You have a family dispute,

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you don't should everybody, it's

just bizarre.

The motive is one of

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the things that might emerge at that

press conference which might happen

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in the next little while, but as yet

has not occurred. It was finally

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about the Financial Times, taking us

to Saudi Arabia. Arrests and

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significant change at some speed.

When Saudi makes the headlines it's

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not usually for things like

corruption purges, it's more to do

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with oil prices and

behind-the-scenes deals, Yemen,

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geopolitics. This kind of thing is

very rare in Saudi. But a very

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interesting, because something is

happening there. They are trying to

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float their job all companies with

some transparency, they have let

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women drive, which is a tiny

incremental change in the Saudi

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context, important. Now this. A

corruption crackdown. 11 princes and

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dozens of senior officials arrested,

so it's obviously not just going

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after the small fry, even Princess,

who we have heard about as investors

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in Twitter, Citigroup. Prominent

figures.

People who may have thought

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they were well out of these kind of

areas. The Crown Prince, the king 's

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son, does seem absolutely sort of

determined, to change Saudi Arabia,

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and to change the corruption, he

says no one involved in corruption

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will escape the are a minister or a

prince and are plenty of Princes in

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Saudi Arabia. The airport was closed

because they did not want these

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people they were trying to arrest to

get in their jets and shoot off.

A

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flight risk, literally.

That is

worth knowing, isn't it! Thank you

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both.

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That's it for The Papers this hour.

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Thank you Ruth and Ben,

you'll both be back at half 11

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for another look at the stories

making the news tomorrow.

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Coming up next, it's

Meet the Author.

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