Reform Media Summary

26 March 2008

In today’s Media Summary, in a comment piece for the FT, Martin Wolf argues that the collapse of Bear Stearns marks the “day the dream of global free-market capitalism died”, with the Federal Reserve effectively conceding that financial deregulation has reached its limits and John Dunford, General Secretary of the Association of School and College Leaders, has said that the union was considering “legal challenges” against “specific academies” who abuse employment rights.

Economy

In a comment piece for the FT, Martin Wolf argues that the collapse of Bear Stearns marks the “day the dream of global free-market capitalism died”, with the Federal Reserve effectively conceding that financial deregulation has reached its limits (FT, p.15).

A study commissioned by Help the Aged and Barclays reveals a significant increase in the level of debt among older people, with borrowers in their late 50s and 60s owing four times as much as a decade ago (FT, p.4; Express, p.4, p.45; Mail, p.10; Telegraph, p.16).

The three pro-union parties in Holyrood launch a commission focusing on the development of tax raising-powers and more financial accountability in Scotland (FT, p.2; Telegraph, p.6).

Andrew Grice writes: “private, Labour sources admit the Budget highlighted the global downturn without giving people much sense of what the Government would do to help them survive the storm” (Independent, p.17).

John Hutton, the Business Secretary, will today underline the Government’s ambition to oversee a new generation of nuclear power stations, a move that “could potentially create up to 100,000 jobs” (FT, p.2; Sun, p.2; Mail, p.2; Guardian, p.1; Telegraph, p.2).

Education

John Dunford, General Secretary of the Association of School and College Leaders, has said that the union was considering “legal challenges” against “specific academies” who abuse employment rights (FT, p.4).

The National Association of School Masters Union of Women Teachers yesterday unanimously passed a motion to ballot members over industrial action in opposition to schools becoming academies. The teachers’ union described such schools as the “most serious threat” ever faced by the education system (Independent, p.11; Guardian, p.12; Telegraph, p.14).

In the Guardian, Jenni Russell writes: “There is now a torrent of evidence emerging that Britain’s rigid, centralised approach to teaching has utterly failed in what it set out to do … real learning has been fatally abandoned for the sake of some very minor improvements in test results” (Guardian, p.29).

Health

The National Institute for Health and Clinical Excellence has altered its previous guidance that small amounts of alcohol are safe during pregnancy. The new advice warns women not to drink at all in the first trimester and ideally not at all until after the birth (Telegraph, p.1; Guardian, p.2; Times, p.33).

Home Affairs

Teenagers face being breathalysed on street corners in a pilot scheme soon to be introduced in Colwyn Bay, North Wales. If the scheme is successful it could soon be extended across the country (Express, p.1, p.7; Mirror, p.1, p.6).

Bernard Hogan-Howe, Merseyside Chief Constable, has criticised judges for being too soft on gun crime, arguing that it was “simply wrong” not to hand down a minimum five-year sentence for firearm possession (Express, p.17; Sun, p.12).

Council housing waiting lists released by the Communities Department shows that the overall queue in England has increased by 58 per cent (Mail, p.30).

Politics

Further coverage of MP’s expenses (FT, p.4; Express, p.2; Mirror, p.6; Sun, p.1-p.2; Independent, p.6; Mail, p.1, p.14 [leader]; Telegraph, p.1; Times, p.2).

Jack Straw, the Justice Secretary, will today set out plans to “renew” the constitution (FT, p.2, p.14 [leader]; Guardian, p.4, p.27 [Jonathan Freedland], p.30 [leader]).

Gordon Brown urges Labour voters to come out in force at the local election scheduled for May 1. Aides close to the Prime Minister have hinted that the party could lose seats at the forthcoming election with one Labour official stating that, “it is going to be a tough set of elections for us” (FT, p.3).