The Independent leads with Cut rates or job losses will soar
In an unprecedented move, a member of the Bank of England's Monetary Policy
Committee (MPC) has criticised the Bank for complacency and "wishful thinking", predicting that two million people will be out of work by Christmas and that house prices will fall by more than 30 per cent.
David Blanchflower, who has consistently warned of the perils facing the economy, attacked the Bank's current thinking. "To sit and worry about inflation expectations, rather than worry about the fact that the economy is going to go into a recession, seems to be misguided," he said
The Guardian leads with House price plunge fuels recession fear
Fears of recession this winter intensified yesterday after the CBI reported the weakest high street activity in 25 years, the Nationwide building society said house prices were falling at £150 a day and a Bank of England policymaker warned of two million unemployed by Christmas.
Amid predictions that 2009 could witness the first year of falling output in Britain since 1991, government hopes of mounting an autumn political comeback suffered a setback when employers' organisation the CBI and Nationwide both said they saw no let-up in the tough conditions facing retailers and the property market.
The Times meanwhile reveals that the Property crash opens door to the new council house
Gordon Brown is set to usher in a new era of council housing by helping local authorities to buy repossessed and unsold properties. Cash and powers will be made available so that town halls can intervene in the housing market, The Times has learnt.
The measures – which could be announced as soon as Tuesday – will encourage councils and housing associations to offer struggling borrowers financial help in return for a stake in their homes or outright ownership. The number of council homes has plummeted since 1981 from 6.1 million to 2.5 million. Hundreds of millions of pounds of extra cash earmarked for social housing could now be released early to buy up newly built properties
Turmoil at Scotland Yard reports the Telegraph
Britain's most senior police chief has been accused of being a racist in an unprecedented personal attack by the country's highest-ranking Asian officer.Assistant Commissioner Tarique Ghaffur went public with a highly damaging legal action against Sir Ian Blair, accusing the Metropolitan Police Commissioner of repeated acts of racial, religious and age discrimination.
The dispute is the latest to undermine Sir Ian's leadership of Britain's largest force.
The Independent says that
Yesterday, Mr Ghaffur, 53, made his first public comments about a row that has plunged the Met into its worst racism crisis since the Stephen Lawrence inquiry a decade ago. He pointed a finger of blame at Sir Ian and said he would present the tribunal with evidence gathered over eight years.
Staying with the police the Times reports that
The ban on police being able to question suspects after they have been charged would be scrapped in measures announced yesterday to increase the number of people being convicted.
Ministers also want to allow juveniles to be questioned in the absence of their parents or guardian.
The Home Office wants police forces to press ahead with plans for “shopping mall jails” that enable people to be held for up to four hours for offences such as shoplifting, drunkenness and hooliganism.
The Mail leads with Asylum seekers held after British journalism student gang-raped in Calais 'Jungle' ghetto
A British woman has been raped by a gang of asylum seekers in Calais, it has been alleged.
The journalism student wanted to highlight the plight of migrants who sleep rough in a squalid camp at the French port before trying to sneak into Britain.
She was subjected to a horrific attack by six Afghan men she intended to write about, it was claimed.
French riot police rounded up 200 migrants for questioning.
The Telegraph continues to speculate about the fate of the Shropshire millionaire
The millionaire businessman Christopher Foster feared dead with his family after an arson attack on their country property may have been living under the threat of losing his "dream home".
The Sun reports that
A FORMER business associate of Christopher Foster said last night he was convinced the fallen tycoon was NOT dead — and had done a bunk.
Leo Dennis, 44, believes police will not find any bodies in the blackened mansion.
Mr Dennis said: “He’s not dead.
“He has got places he can go to, places scattered around Europe.
“These are properties that nobody knows about. He can go and just disappear.
It leads with the story that an
EAGER Prince Harry has urged Army bosses to return him to the front line in Afghanistan.
The soldier royal, third in line to the throne, had a successful first tour of duty in the war zone earlier this year.
Now he is desperate to go back for another encounter with hostile Taliban forces.
Many of the papers report that
Thousands of air passengers had their plans thrown into chaos last night after cash-strapped transatlantic airline Zoom axed all its flights and started bankruptcy proceedings.
Families who paid to fly with Zoom - which operates from five British airports - could be left out of pocket as all its planes were grounded.
Passengers first became aware of problems when one of the carrier's planes was detained at Calgary in Canada yesterday because of financial problems.
Putin accuses US of starting Georgia crisis as election ploy reports the Guardian
As Moscow found itself increasingly isolated internationally for invading Georgia and recognising two breakaway regions of the country as independent states, Putin suggested that the Georgia war had been cooked up in Washington to create a neo-cold war climate that would strengthen Republican candidate John McCain's bid for the White House
Barack Obama's exceptance speach came too late for the papers but they concentrate on Bill Clinton's performance the night before,the Independent reporting that
He came on to the strains of "Don't stop thinking about tomorrow," the anthem of his victorious campaigns of 1992 and 1996. But when the delirious applause that greeted him finally subsided, Bill Clinton made clear that tomorrow – and the Democratic party – now belongs to Barack Obama.
Beforehand, no one was sure how he would behave. The new kid on the block hadn't been showing proper respect to the Democrats' only two-term President since FDR, they said. He was still smarting over his wife's defeat, and fuming about criticism of his performance. And wasn't it Bill Clinton who warned that to give the nomination to Barack Obama would be "a roll of the dice"?
The Times reports from Pakistan where
A money-laundering case against Asif Ali Zardari, the man poised to take over as Pakistan’s next president, has been dropped by a Swiss court, leading to the release of millions of pounds — and renewed questions about where Mr Zardari acquired such wealth.
The case was closed and $60 million (£33 million) handed back to Mr Zardari after the Pakistani Government withdrew its requests for judicial assistance from Switzerland and said it had no claim on his assets. It said that he had not done anything illegal and that the charges had been politically motivated.
Back to the Uk and the Telegraph reports that
Three men charged over 'threats to kill Gordon Brown'
Ishaq Kanmi, 22, from Blackburn, Lancashire has been charged with soliciting murder and belonging, or claiming to belong, to al-Qaeda.
Other charges allege Kanmi invited support for a proscribed organisation and disseminated terrorist publications.
Abbas Iqbal, 23, from Blackburn, was charged with disseminating terrorist publications and possession of an article for the commission, preparation or instigation of an act of terrorism.
His brother Ilyas Iqbal, 21, was charged with a similar charge of possessing an article for the commission, preparation or instigation of an act of terrorism and also of making a record of information likely to be useful to a person committing an act of terrorism.
The Express leads with the news that
HEFTY fines are to be inflicted on householders who fail to recycle their rubbish correctly, it emerged last night.
People caught mistakenly putting normal waste into their green recycling bins could be fined £70 – more than many shoplifters, drug users and dangerous drivers.
Campaigners said the draconian penalties were merely an excuse for town hall bullies to squeeze more cash out of already hard-pressed families.
Shoppers lose their taste for organic food reports the Guardian
Organic food sales have fallen more than at any time in the last decade as shoppers try to cut costs and experts warn that consumers are more confused than ever about whether it is worth paying the higher prices.
Figures collected for the Guardian by the market research company TNS show spending on organic food and drinks fell from a peak of nearly £100m a month earlier this year to £81m in the most recent four-week period recorded. The fall has been steepest in eggs, but is also reported in the most popular sectors, including dairy, fruit and vegetables and chicken.
Finally the Independent reports on A biblical tragedy in the Sea of Galilee where
An arid country, Israel relies on the waters where Jesus sailed to irrigate its farmland and supply its homes. But now the lake is drying up – and only drastic action will save it
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