Morning Call: pick of the papers

The ten must-read comment pieces from this morning's papers.

  1. More spending? The coalition may as well build a bridge to the moon (Guardian)
    David Cameron and Vince Cable are both wrong. Infrastructure isn't the answer and nor is QE – money in pockets is, writes Simon Jenkins.
  2. Pay up for Nato or shut it down (Financial Times)
    Being prepared for new threats requires military capabilities but no one wants to pick up the bill, argues Philip Stephens.
  3. The crumbling Coalition is being torn apart by the post-Budget Public Spending Review (Telegraph)
    Deciding the contents of George Osborne's Budget has been relatively straightforward. How to divide the shrinking budgets is a battle that has taken on Bosnian complexity, says Fraser Nelson.
  4. David Cameron's very own magic money tree (Guardian)
    This speech outlines Cameron's strategic gamble of ploughing on with austerity and using quantitative easing as a palliative, writes Richard Seymour.
  5. Benefit tourists are just political phantoms (Times)
    It’s a myth that lazy foreigners are sponging off our welfare state. Our leaders ought to be straight with us, says Philip Collins.
  6. The man at Number 10 is not for turning (Financial Times)
    If the British government’s plan is working, what would a failing one look like, asks Martin Wolf.
  7. Ministerial rows over cuts show how much weaker Cameron and Osborne have become (Independent)
    The Tories now see the reality of public-spending cuts—and they don't like it, writes Steve Richards.
  8. It’s plain what George Osborne needs to do – so just get on and do it (Telegraph)
    The politics are tricky, but the Budget must confront some hard economic choices, insists Jeremy Warner.
  9. The Market Speaks (New York Times)
    Yes, the Dow Jones industrial average has been setting new records this week, but the message from the markets is actually not a happy one, says Paul Krugman.
  10. MPs reading the news? Pigs (and bats) might fly (Independent)
    There was a curious absence at DEFRA questions, writes Donald MacIntyre.

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

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Lord Sainsbury pulls funding from Progress and other political causes

The longstanding Labour donor will no longer fund party political causes. 

Centrist Labour MPs face a funding gap for their ideas after the longstanding Labour donor Lord Sainsbury announced he will stop financing party political causes.

Sainsbury, who served as a New Labour minister and also donated to the Liberal Democrats, is instead concentrating on charitable causes. 

Lord Sainsbury funded the centrist organisation Progress, dubbed the “original Blairite pressure group”, which was founded in mid Nineties and provided the intellectual underpinnings of New Labour.

The former supermarket boss is understood to still fund Policy Network, an international thinktank headed by New Labour veteran Peter Mandelson.

He has also funded the Remain campaign group Britain Stronger in Europe. The latter reinvented itself as Open Britain after the Leave vote, and has campaigned for a softer Brexit. Its supporters include former Lib Dem leader Nick Clegg and Labour's Chuka Umunna, and it now relies on grassroots funding.

Sainsbury said he wished to “hand the baton on to a new generation of donors” who supported progressive politics. 

Progress director Richard Angell said: “Progress is extremely grateful to Lord Sainsbury for the funding he has provided for over two decades. We always knew it would not last forever.”

The organisation has raised a third of its funding target from other donors, but is now appealing for financial support from Labour supporters. Its aims include “stopping a hard-left take over” of the Labour party and “renewing the ideas of the centre-left”. 

Julia Rampen is the digital news editor of the New Statesman (previously editor of The Staggers, The New Statesman's online rolling politics blog). She has also been deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines. 

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