Reform Media Summary

18 April 2008

Economy

Writing in a comment piece for the Telegraph David Cameron discusses his vision to restore Britain “on the path to prosperity”. Policy proposals include strengthening the powers of the Bank of England, subjecting fiscal rules to independent verification and implementing plans to take nine out of ten first-time buyers out of stamp duty (Telegraph, p.23).

Further coverage of the credit crunch. Both Citigroup and Merrill Lynch announce further job cuts bringing the number of positions lost at financial companies to nearly 40,000 since the onset of the credit crisis. Meanwhile the Royal Bank of Scotland has made a plea to the City to raise billions of pounds in order to ease a liquidity crisis (FT, p.1, p.2, p.16, p.25; Telegraph, p.1,p.24 [Martin Vander Weyer], B1, B1, B3; Mail, p.2; Guardian, p.1, p.26, p.26 [Larry Elliott and Jill Treanor], p.27 [Nils Pratley], p.27; Express, p.2; Mirror, p.21, p.29 [Paul Routledge]; Times, p.17 [Alice Miles]).

Charles Bean, Chief Economist at the Bank of England, defended the Bank’s gradualist approach to interest rate cuts, arguing that more aggressive cuts would have increased the risk of inflation remaining above target in the medium term. Mr Bean declared “The MPC targets CPI inflation, not house prices” (FT, p.2, B2).

A survey of Britain’s skills by the CBI employer’s organisation has found that almost half of companies across all sectors are having difficulty recruiting staff skilled in science subjects (FT, p.2; Mail, p.10).

Further coverage of the housing market. In an article for the FT Martin Wolf argues that it is not the responsibility of the state to keep house prices high and that as house prices must fall (since they are chronically over-valued) “it is better for this adjustment to be swift than to dragged out over many years” (FT, p.3, p.13; Independent, p.4; Mail, p.2; Sun, p.2).

Polly Toynbee says in a comment piece: “This Government has failed miserably to make the case for fair taxation. More than ever, birth has become destiny” (Guardian, p.33).

Conservative figures reveal that householders have spent an extra £4,000 each in council tax since Labour won power (Sun, p.2, p.8 [leader]; Express, p.1, p.12 [leader]).

Education

Times lead story: Ed Balls has asked the School Teachers Pay Review Board to propose a new salary scale for headteachers who agree to take on the management of other local schools. The possible maximum salary for headteachers would rise from £150,000 to around £200,000 (Times, p.1; Telegraph, p.13; Mail, p.31).

According to a Cambridge University-led review, primary school education has been damaged by “prescriptive state nationalisation” which has taken all the fun out of children’s learning. It also says that a mixture of “moral panic”, “policy hysteria” and “fad theory” has had a devastating effect on primary schools in England (Independent, p.8, p.34 [leader]).

The number of students due to take new diplomas in September has been scaled back amid concern over the diplomas’ quality (Guardian, p.1, p.4, p.36 [leader]; Mirror, p.6; Mail, p.10, p.14 [leader]; THES, p.24).

Reports from events held by the Department for Innovation, Universities and Skills, show that student juries are concerned that universities “don’t fail enough people” and are setting pass marks too low (THES, p.10).

A study from the Institute of Education, University of London, recommends that schools be redesigned to provide spaces for shy pupils to study and play separately (Guardian, p.12).

Health

A study by the Harvard Medical School has found that those who suffer from regular migraines are one and a half times more likely to suffer a heart attack and three times more likely to suffer a stroke (FT, p.1; Mail, p.28).

Research suggests that Lapatinib, a new breast cancer drug that shrinks tumours by more than a half within weeks, could save the lives of up to a fifth of those diagnosed with breast cancer (Telegraph, p.8; Mail, p.12; Express, p.9, p.12 [leader]).

A study to be published today by the British Medical Journal argues self-monitoring diabetes kits do not work for people with type 2 diabetes. The NHS is spending £100 million a year on these home kits (Guardian, p.8).

Home Affairs

Jacqui Smith, the Home Secretary, yesterday assured police chiefs they will have access to a £15 million-a-year “migration fund” to top up public services under stress in areas of rapid population growth (FT, p.2; Guardian, p.13; Express, p.6).

Politics

Times leader: “The month ahead has ‘misery’ [for the Government] written through it like a stick of rock.” Ed Balls told the paper that the Government should show that it is “focused on delivering our mission of change” (Times, p.17; Independent, p.21; Mirror, p.4, p.8 [leader]).

Angela Smith, Parliamentary Secretary to Yvette Cooper, last night withdrew her threat of resignation over the abolition of the 10p tax band (FT, p.2; Telegraph, p.2; Independent, p.20; Mail, p.4; Guardian, p.8; Express, p.4).

Gwyneth Dunwoody has died at the age of 77 (Times, p.12).

Coverage of launch of Conservative local election campaign (Times, p.4; Independent, p.10).