Morning Call: pick of the papers

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

1. Austerity Labour is on its way and Ed Balls is leading the charge (Daily Telegraph)

The shadow chancellor must save money – and the NHS – if his party is to win the general election in 2015, writes Mary Riddell. 

2. The challenges of a post-crisis world (Financial Times)

Nations must nurture recovery and promote reform, writes Martin Wolf. Co-operation and communication should be the order of the day.

3. One tax rise too far and suddenly . . . crash! (Times)

Labour thinks it can increase tax on wealth creators without consequence, writes Daniel Finkelstein. Eventually it will reach a tipping point.

4. RBS is the people's bank. So let's stop this annual festival of bribery (Guardian)

Bonus culture has become so warped that bankers presiding over losses of £8bn still think they deserve a reward, writes Simon Jenkins. 

5. After a decade of pre-eminence, the balance of the world economy is tilting away from the BRICS (Independent)

While these countries were growing so fast we tended to ignore the warning signs, writes Hamish McRae. 

6. Our workplaces are about as family-friendly as a 19th-century mill (Guardian)

Maternity leave, sick pay, the minimum wage – the ability to claim these vital rights has been torched by our zero-hours economy, writes Zoe Williams. 

7. Will Obama stand with Japan against China? (Times)

Washington’s weakness – from Kiev to Damascus – has encouraged Beijing to assert itself, says Roger Boyes.

8. Imagine the explosion of growth if we got serious about tax-cutting (Daily Telegraph)

Those on the lowest incomes should pay no tax at at all; while the hard-pressed middle class should face a flat tax, says Allister Heath. 

9. Politicians must lead on immigration (Financial Times)

If we want the world’s best ideas we need innovators living among us, writes Gus O’Donnell.

10. Why I'm speaking up for Islam against the loudmouths who have hijacked it (Guardian)

I tweeted a cartoon of Jesus and Mo, writes Maajid Nawaz. My aim was to carve out a space where Muslims can be heard without fearing the blasphemy charge.

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Cabinet audit: what does the appointment of Liam Fox as International Trade Secretary mean for policy?

The political and policy-based implications of the new Secretary of State for International Trade.

Only Nixon, it is said, could have gone to China. Only a politician with the impeccable Commie-bashing credentials of the 37th President had the political capital necessary to strike a deal with the People’s Republic of China.

Theresa May’s great hope is that only Liam Fox, the newly-installed Secretary of State for International Trade, has the Euro-bashing credentials to break the news to the Brexiteers that a deal between a post-Leave United Kingdom and China might be somewhat harder to negotiate than Vote Leave suggested.

The biggest item on the agenda: striking a deal that allows Britain to stay in the single market. Elsewhere, Fox should use his political capital with the Conservative right to wait longer to sign deals than a Remainer would have to, to avoid the United Kingdom being caught in a series of bad deals. 

Stephen Bush is special correspondent at the New Statesman. He usually writes about politics.