Morning Call: pick of the papers

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

1. What a fairer Scotland would look like (Independent)

Despite its progressive rhetoric, the SNP would hand big business a mighty cheque, writes Owen Jones.

2. Three cheers for Tory rebels, the real loyalists (Times)

Downing Street expects unswerving obedience, but without the awkward squad we’d be at war – and have dearer petrol, writes Tm Montgomerie.

3. A broken union would unsettle Northern Ireland (Financial Times)

A Scottish Yes vote would open constitutional question at a delicate time, writes Jonathan Powell.

4. We need a counterweight to City and corporate power (Guardian)

Any further weakening of Labour's links with the unions will only deepen the crisis of representation in the political system, says Seumas Milne.

5. As an island nation, we will in the end have to accept that the sea will continue to reshape our landscape (Independent)

It is unrealistic to fortify the whole of the south west and flood defences obstruct open views, writes Mary Dejevsky.

6. We may soon learn France's real role in the Rwanda genocide (Guardian)

In a milestone court case in Paris, unprecedented testimony could reveal the Elysée's links to the 1994 génocidaires, writes Linda Melvern.

7. Carney must avoid more unforced error (Financial Times)

The BoE hitched its wagon to unemployment when what it really cared about was recovery, writes Chris Giles.

8. The Education Secretary is right to take on teacher 'Blobbledegook’ (Daily Telegraph)

Michael Gove takes the outdated view that teaching and learning is the job description of schools, writes Allison Pearson. He deserves all our support.

9. Payment Protection (Times)

Reducing the national debt is not optional for Britain; it is essential to sustainable recovery, argues a Times editorial.

10. Bitcoin is more than a speculators’ currency (Financial Times)

People could gain ownership rights to digital goods similar to physical ones, writes John Gapper.

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The 5 things the Tories aren't telling you about their manifesto

Turns out the NHS is something you really have to pay for after all. 

When Theresa May launched the Conservative 2017 manifesto, she borrowed the most popular policies from across the political spectrum. Some anti-immigrant rhetoric? Some strong action on rip-off energy firms? The message is clear - you can have it all if you vote Tory.

But can you? The respected thinktank the Institute for Fiscal Studies has now been through the manifesto with a fine tooth comb, and it turns out there are some things the Tory manifesto just doesn't mention...

1. How budgeting works

They say: "a balanced budget by the middle of the next decade"

What they don't say: The Conservatives don't talk very much about new taxes or spending commitments in the manifesto. But the IFS argues that balancing the budget "would likely require more spending cuts or tax rises even beyond the end of the next parliament."

2. How this isn't the end of austerity

They say: "We will always be guided by what matters to the ordinary, working families of this nation."

What they don't say: The manifesto does not backtrack on existing planned cuts to working-age welfare benefits. According to the IFS, these cuts will "reduce the incomes of the lowest income working age households significantly – and by more than the cuts seen since 2010".

3. Why some policies don't make a difference

They say: "The Triple Lock has worked: it is now time to set pensions on an even course."

What they don't say: The argument behind scrapping the "triple lock" on pensions is that it provides an unneccessarily generous subsidy to pensioners (including superbly wealthy ones) at the expense of the taxpayer.

However, the IFS found that the Conservatives' proposed solution - a "double lock" which rises with earnings or inflation - will cost the taxpayer just as much over the coming Parliament. After all, Brexit has caused a drop in the value of sterling, which is now causing price inflation...

4. That healthcare can't be done cheap

They say: "The next Conservative government will give the NHS the resources it needs."

What they don't say: The £8bn more promised for the NHS over the next five years is a continuation of underinvestment in the NHS. The IFS says: "Conservative plans for NHS spending look very tight indeed and may well be undeliverable."

5. Cutting immigration costs us

They say: "We will therefore establish an immigration policy that allows us to reduce and control the number of people who come to Britain from the European Union, while still allowing us to attract the skilled workers our economy needs." 

What they don't say: The Office for Budget Responsibility has already calculated that lower immigration as a result of the Brexit vote could reduce tax revenues by £6bn a year in four years' time. The IFS calculates that getting net immigration down to the tens of thousands, as the Tories pledge, could double that loss.

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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