News digest 24 July 2014

News digest 24 July 2014

24 July 2014

Today’s top reads: Stories to keep an eye out for:

·                Netherlands mourns as bodies of MH17 plane crash victims are flown home - Guardian

·                One child killed an hour by Israeli bombs - Mirror

·                Carney: Rate rise could push Britain back into recession – Mail

·                One in three will end up paying higher tax – Telegraph

·                Tory donor whose firm is one of Britain’s biggest tax avoiders – Indie

·                Cameron refuses to return £160,000 from Russian Tory donor - Mirror

The MH17 crash and Gaza continue to feature in all the papers as the bodies from the crash in Ukraine arrived back in the Netherlands while in the Middle East the UN human rights chief Navi Pillay condemned Hamas’ rocket attacks but said that Israel may have committed war crimes in the Gaza Strip. The Mirror’s headline sums it up simply: “One child killed every hour by Israeli bombs.” There’s only one solution, Israel’s military must stop the bombardment, and stop it now.

On the domestic front things are starting to quieten down on the political front as the zombie parliament means the Commons is already on holiday (the Lords sit for another week), but the top concern is the state of the economy and there is a lot of coverage about the possible rise in interest rates after Bank of England governor Mark Carney said the UK economy remained fragile. The main concern seems to be not the debt that the government is holding, but the debt that people are holding with fears that a rise in interest rates could rapidly put the squeeze on spending. Carney is widely reported as saying rates will rise when wages do, however, his record is not that good as previously Carney said rates would rise when unemployment dropped below 7.0 per cent and it’s 6.6 per cent now! The trouble is we have a lopsided recovery where all the effort is being put in by put upon workers and all the profit is being creamed off at the top.

Increasingly it looks like people are paying more tax – the front page of the Telegraph after splashes with the headline that: “One in three will end up paying the higher rate of tax” – while we see no rise in wages and those at the top merrily avoid their obligations, the Indie splashes with the tale of an oil-trading company who happens to be one of Britain’s biggest tax avoiders, all with the blessing of HMRC. Yes, you read that right, Ian Taylor’s trading company paid barely 10 per cent tax on profits of £9 billion, imagine how many nurses that could pay for?

Strangely, Ian Taylor also happens to be a key donor to the Tory party, why am I not surprised. And talking of donors, it looks like prime minister David Cameron remains fixated on a ‘take the money and run’ approach to party finances. The running in this context will be on a tennis court as despite all Cameron’s harsh rhetoric about the Putin regime, he has said he will still commit to keep his donor tennis date with the wife of a former Russian minister who paid £160,000 to Tory coffers for the privilege of playing with the PM, hypocritical in the extreme, let’s hope that’s a suitable epitaph for the Con-Dem coalition…

Edited by Mik Sabiers

  Morning Star

Daily Mirror

Sun (no links all stories now behind paywall)

  • MH17: Looters answer victims’ phones (p2/16-17)
  • Lorry speed limits to rise (p8)
  • British Gas to poach BP boss? (p47)
  • Flybe fills route gap (p47)
  • Ryanair £8m rap (p47) 



Times (no links all stories behind paywall)

  • Cameron under pressure to punish Putin oligarchs (p1)
  • Tory party donor and ousted ministers in line for gongs (p23)
  • Rate rise puts a million at risk of mortgage prison (p2)
  • Crisis over MH17 (p6-9)
  • Mutual fears condemns Gaza to Groundhog Day – David Aaronovitch (p25)
  • MPC hints a rise in rates will come by year’s end (p38)
  • Metro delays plan for float (p41)
  • Generation rent barred from property ladder (p42)
  • Being earnings soar (p43) 




FT (no links all stories behind paywall)

  • Carney highlights rate rise risks (p1)
  • Cameron to keep donor tennis date (p2)
  • Millions of homes face ‘nasty rate surprises’ (p2)
  • Doubts over Osborne’s privatisation push (p3)
  • Retail sales rebound (p4)
  • More NHS trusts show financial distress (p4))
  • Daimler warns of virtual carjacking in self-driving vehicles (p19)

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