News digest 30 October 2014

News digest 30 October 2014

30 October 2014

There’s no single story dominating the headlines today although the trouble at Tesco does feature in almost all papers after a criminal investigation was launched into the company’s alleged accounting irregularities which saw the firm artificially inflate its profits to the tune of some £263 million. The Mail has a list of the 11 executives [or a rogues gallery] with questions to answer, eight of them are currently suspended, but could they be facing sentences for cooking the books? Let’s see how stern the SFO investigation is…

It was also a bad day for prime minister David Cameron in the Commons after he was taken to task by Labour over his immigration policy [sadly true] and then pledged to have a vote on the European arrest warrant before the Rochester by-election [he has since backtracked on this pledge – quelle surprise]. And his actions [and perhaps those of Labour leader Ed Miliband too] seem to be playing into the hands of Ukip with a few of the papers saying Cameron has already conceded the by-election, although the danger of the Tories is more the Telegraph headline which says: “Tories split over EU vote”, remember, people don’t back divided parties.

And from divided parties to a divided country, a few of the papers touch on the fact that Cameron says he has a “moral duty” to cut taxes [although the qualification should probably be for the rich only] but the real scandal is that the richest have got even richer thanks to the top rate tax cut with the number of billionaires in Britain doubling and their wealth adding up to a whopping £95 billion [they obviously needed that top rate tax cut]. At the same time the FT reports that the number of employees caught in the minimum wage trap has risen and that one in 20 workers earned the minimum wage in 2013, the highest since its introduction. Then again the Times reports that all workers wants is “a little gratitude, not more money”, or so says ex-cabinet secretary Gus O’Donnell [what planet is he on?], while the Mirror reports that youth unemployment is set to rise. The future of job security will also worsen as the scourge of outsourcing continues, the latest is the probation service which will see services slashed as private companies try to make profits out of prisoner rehabilitation, and finally there’s an interesting Home Office report [which has been suppressed] saying punishing drug users is pointless, the Indie asks whether Britain is ready to “grow up” over the subject of drug abuse? Don’t bank on it, although perhaps chancellor George Osborne would like to tax the drugs trade to help pay the EU bill which after all includes drugs in the reclassification as a reason behind the ‘success’ of the UK economy, that won’t please the Sun which complains about the fact that stealth taxes have gone up 50 per cent in the past decade, remind me who said there was a moral duty to cut tax? Hypocrites as ever…

Edited by Mik Sabiers

  Morning Star

  Daily Mirror

Sun (no links all stories now behind paywall)

  • 20% of North East homes are jobless (p6)
  • Tesco cop probe (p14)(p)
  • Cider co C&C pubs bid is bashed (p51)
  • Stealth taxes up 50% in 10 years (p51)



  Times (no links all stories behind paywall)

  • Cutting taxes a moral duty (p1)
  • Tesco error investigated (p1)
  • Record fall in households without an earner (p4)
  • Harman taunts PM with feminist T-shirt (p9)
  • Workers want gratitude, not more money(p23)
  • Fed ends QE (p45)
  • Abolish passenger tax says Willie Walsh (p49)
  • Heathrow feels pinch (p51)




  FT (no links all stories behind paywall)

  • Fed ends QE (p1)
  • Barclays accused of acting ‘corruptly’ (p1)
  • Labour struggles for direction in Scotland (p2)
  • Two outsourcers win over half probation contracts (p2)
  • Row over EU bill continues (p3)
  • JLR strike on the cards (p4) – Unite cited
  • Employees in minimum wage trap rises (p4)
  • Tesco woes deepen (p17)
  • Nestle opens zero water plan in Mexico (p21)
  • Air France/KLM to extend cost cutting (p21)
  • Heathrow claims support for expansion (p23)

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