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MPs debate culture committee report on phone hacking: Politics live blog MPs debate culture committee report on phone hacking: Politics live blog
(40 minutes later)
9.47am: And here's the top of the Press Association story about the inflation figures.
Inflation fell to its lowest level in more than two years last month, official figures showed today, as high street discounting took the pressure off household budgets.
The consumer price index (CPI) rate of inflation fell to 3% in April, compared with 3.5% in March, its lowest level since February 2010, the Office for National Statistics (ONS) said.
In further evidence that the weak economic climate is forcing retailers to cut prices to draw in customers, clothing and footwear prices rose by just 0.2% in the period compared with 1.4% last year.
And softer excise duty rises on alcohol and tobacco, as well as lower air fares due to the timing of Easter, also helped keep a lid on the rising cost of living.
Bank of England governor Sir Mervyn King narrowly avoided sending his 10th "Dear chancellor" letter to explain why inflation is higher than the government's 2% target, as at 3% it is now within one percentage point of that goal.
Inflation has fallen from 5.6% last September due to the waning impact of the VAT hike at the start of 2011, falling energy, food and commodity prices and a number of bill cuts from utility providers.
However, it has not dropped as quickly as the Bank of England expected after fears over increasing tensions between the West and Iran pushed oil prices higher in March.
The sharp decrease in inflation in April is likely to bolster the case for the Bank to pump more emergency cash into the economy through its quantitative easing programme.
The economy entered a technical recession in the first quarter of the year as gross domestic product declined 0.2%, following a 0.3% drop in the final quarter of 2011.
Chloe Smith, the economic secretary to the Treasury, said: "Inflation is down and back within the target range for the first time since 2010, which is good news and will provide some welcome relief for family budgets."
The most significant downward pressure on prices in April came from the transport sector, which saw prices rise 1.2% compared with a 2.8% rise the previous year.
The largest downward effect came from air transport where the timing of Easter meant fares rose 7.4% compared with a huge 29% surge last year.
9.33am: I'll come back to the Nick Clegg speech shortly. But, first, here are the inflation figures which are just out.

• The consumer prices index (CPI) measure of inflation fell to 3.0% in April, from 3.5% in March.
• The headline rate of retail prices index (RPI) inflation fell to 3.5% in April, from 3.6% in March.
• The underlying rate of RPI inflation fell to 3.5% in April, from 3.7% in March.
And here's the full statistical bulletin from the Office for National Statistics (pdf) with all the details.
9.24am: Nick Clegg is taking questions now. But BBC News have decided it would be more interesting to hear from Carole Walker instead.
9.21am: Clegg is now talking about class.
We are a long way from being a classless society, he says. This covers not just wealth, but attitudes.
Eighty years ago the historian Frank Harris said: "Snobbery is the religion of England." There is some truth in this, Clegg says.
People at the top are brought up to believe the world is theirs.
But everyone should be brought up like this.
Parents at the top expect their children to become professionals. But, at the bottom, only 20% of parents have these ambitions for their children, he says.
9.19am: Clegg says the government is putting in place mechanisms to ensure that it makes progress on social mobility: indicators to measure progress, a ministerial group on social mobility and a social mobility and child poverty commission.
He also announces that there will be a social mobility sector transparency board. (It's not the most exciting announcement he has ever made, he jokes.)
9.16am: Clegg says the third myth is that social mobility involves dumbing down.9.16am: Clegg says the third myth is that social mobility involves dumbing down.
Again, this is nonsense. Nonsense, I should add, which is usually peddled by those who benefit from the status quo – and therefore want to keep things the way they are.Again, this is nonsense. Nonsense, I should add, which is usually peddled by those who benefit from the status quo – and therefore want to keep things the way they are.
Clegg says the government wants to encourage universities to recruit on the basis of potential, not just on the basis of A-level results.Clegg says the government wants to encourage universities to recruit on the basis of potential, not just on the basis of A-level results.
Now it may surprise the non-Brits among you to learn that in some quarters, the idea of carefully taking into account the impact of background in assessing university applications has been painted by some as a dangerous piece of revolutionary socialism.Now it may surprise the non-Brits among you to learn that in some quarters, the idea of carefully taking into account the impact of background in assessing university applications has been painted by some as a dangerous piece of revolutionary socialism.
But far from dumbing down, it's about increasing opportunity to achieve excellence.But far from dumbing down, it's about increasing opportunity to achieve excellence.
There is compelling evidence that translation of ability into attainment is affected by your social and educational background. A study at the University of Bristol showed that state school educated children with top A-levels were 50% more likely to get first-class degrees than privately educated children with the same grades.There is compelling evidence that translation of ability into attainment is affected by your social and educational background. A study at the University of Bristol showed that state school educated children with top A-levels were 50% more likely to get first-class degrees than privately educated children with the same grades.
9.14am: The second myth is that governments can only promote social mobility in times of prosperity, Clegg says.9.14am: The second myth is that governments can only promote social mobility in times of prosperity, Clegg says.
Partly this myth comes from those who think our spending plans are dismantling the state's capacity to help. That we are turning the clock back to the 1930s.Partly this myth comes from those who think our spending plans are dismantling the state's capacity to help. That we are turning the clock back to the 1930s.
This is simply not true. At the end of this parliament, public spending will still account for 42% of GDP.This is simply not true. At the end of this parliament, public spending will still account for 42% of GDP.
Clegg also says a growing economy increases absolute social mobility: ie, everyone gets richer. But it does not necessarily create relative social mobility.Clegg also says a growing economy increases absolute social mobility: ie, everyone gets richer. But it does not necessarily create relative social mobility.
Clegg says in times of economic difficulty, social mobility becomes even more important.Clegg says in times of economic difficulty, social mobility becomes even more important.
Just think how our economy might have responded to the crisis if everyone who'd ever thought about starting a business could get on with it. If everyone who'd ever hungered after the best education could go for it.Just think how our economy might have responded to the crisis if everyone who'd ever thought about starting a business could get on with it. If everyone who'd ever hungered after the best education could go for it.
Wasted talent is always a moral crime: but it is increasingly an economic crime, too. The Sutton Trust's own work has suggested that boosting poor educational attainment up to the UK average would increase GDP by £140 billion by 2050, and increase long-run trend growth by 0.4 percentage points.Wasted talent is always a moral crime: but it is increasingly an economic crime, too. The Sutton Trust's own work has suggested that boosting poor educational attainment up to the UK average would increase GDP by £140 billion by 2050, and increase long-run trend growth by 0.4 percentage points.
9.12am: Clegg says he wants to tackle some myths about social mobility.9.12am: Clegg says he wants to tackle some myths about social mobility.
The first is that social mobility is just a product of income inequality.The first is that social mobility is just a product of income inequality.

According to this myth, mobility will follow automatically in the wake of greater equality. And so it follows that the only thing we should worry about is closing the gap between rich and poor.

According to this myth, mobility will follow automatically in the wake of greater equality. And so it follows that the only thing we should worry about is closing the gap between rich and poor.
Of course, reducing inequality is a good and laudable aim. But unfortunately it's not the straightforward route to social mobility that its proponents suggest.Of course, reducing inequality is a good and laudable aim. But unfortunately it's not the straightforward route to social mobility that its proponents suggest.
In many ways, I wish it was. Life would be much simpler. Our goal would be clear: redistribution of income would do the job.In many ways, I wish it was. Life would be much simpler. Our goal would be clear: redistribution of income would do the job.
The trouble is that, as this conference has been discussing, it is just not that simple. The causal links are not that clear.The trouble is that, as this conference has been discussing, it is just not that simple. The causal links are not that clear.
Of course if the gap is narrower you have less distance to travel. But the uncomfortable truth is that nations with similar levels of income inequality have dissimilar levels of social mobility. Why do Australia and Canada have UK levels of inequality, but almost Scandinavian levels of mobility?Of course if the gap is narrower you have less distance to travel. But the uncomfortable truth is that nations with similar levels of income inequality have dissimilar levels of social mobility. Why do Australia and Canada have UK levels of inequality, but almost Scandinavian levels of mobility?
9.10am: Clegg says he does not denigrate anyone who sends their child to private school because they want the best for them. "Indeed, that aspiration on behalf of children is one of the most precious ingredients of parenthood," he says.9.10am: Clegg says he does not denigrate anyone who sends their child to private school because they want the best for them. "Indeed, that aspiration on behalf of children is one of the most precious ingredients of parenthood," he says.
And he says that the fact that he went to a private school (Westminster) should not stop him speaking about this subject.And he says that the fact that he went to a private school (Westminster) should not stop him speaking about this subject.
If people like me who have benefited from the system don't speak up, we will never get anywhere.If people like me who have benefited from the system don't speak up, we will never get anywhere.
We have to fight for a society where the fortunes of birth and background weigh less heavily on prospects and opportunities for the future.We have to fight for a society where the fortunes of birth and background weigh less heavily on prospects and opportunities for the future.
9.08am: Nick Clegg is speaking now.9.08am: Nick Clegg is speaking now.
He starts with a some statistics about the scale of the problem.He starts with a some statistics about the scale of the problem.
One in five children are on free school meals; only one in a hundred Oxbridge entrants were;One in five children are on free school meals; only one in a hundred Oxbridge entrants were;
Only 7% of children attend independent schools, but public schools provide 70% of high court judges and 54% of FTSE 100 CEOs;Only 7% of children attend independent schools, but public schools provide 70% of high court judges and 54% of FTSE 100 CEOs;
One in five children from poorer homes achieve five good GCSEs, compared to three out of four from affluent homes.One in five children from poorer homes achieve five good GCSEs, compared to three out of four from affluent homes.
This is a legacy "we cannot afford", he says.This is a legacy "we cannot afford", he says.
For liberals, this is core stuff. It gets to the very heart of our politics. We are a party and a creed that is defined by our belief in a fairer, more open society.For liberals, this is core stuff. It gets to the very heart of our politics. We are a party and a creed that is defined by our belief in a fairer, more open society.
For me, it's the reason I do this job.For me, it's the reason I do this job.
9.04am: Nick Clegg will be delivering his social mobility speech shortly.9.04am: Nick Clegg will be delivering his social mobility speech shortly.
The Cabinet Office has now published it's 52-page report Opening Doors, Breaking Barriers: A Strategy for Social Mobility (pdf). It's an update on progress made on social mobility since April last year.The Cabinet Office has now published it's 52-page report Opening Doors, Breaking Barriers: A Strategy for Social Mobility (pdf). It's an update on progress made on social mobility since April last year.
8.45am: MPs are debating the culture committte report on phone hacking later today. But, before that, we've got Nick Clegg delivering a speech on social mobility. It has already been extensively trailed. In the Observer Toby Helm revealed that Clegg would be saying that pupils at private schools are more than three times as likely to get AAB in the key A level subjects as pupils at state schools. In the Guardian on Monday Patrick Wintour said Clegg would be proposing a student premium designed to guarantee financial help for all children on free school meals entering higher education. And today Nicholas Watt reports that the government will be publishing 17 "trackers" to assess progress in improving life chances over the coming decades. This might seem like overkill, but this is one of the great causes of our time. If you don't accept that, look at the charts that Simon Rogers has posted on his data blog showing that the UK is far behind many other countries on social mobility.8.45am: MPs are debating the culture committte report on phone hacking later today. But, before that, we've got Nick Clegg delivering a speech on social mobility. It has already been extensively trailed. In the Observer Toby Helm revealed that Clegg would be saying that pupils at private schools are more than three times as likely to get AAB in the key A level subjects as pupils at state schools. In the Guardian on Monday Patrick Wintour said Clegg would be proposing a student premium designed to guarantee financial help for all children on free school meals entering higher education. And today Nicholas Watt reports that the government will be publishing 17 "trackers" to assess progress in improving life chances over the coming decades. This might seem like overkill, but this is one of the great causes of our time. If you don't accept that, look at the charts that Simon Rogers has posted on his data blog showing that the UK is far behind many other countries on social mobility.
Here's the full agenda for the day.Here's the full agenda for the day.
9am: Nick Clegg delivers his speech on social mobility.9am: Nick Clegg delivers his speech on social mobility.
9.30am: Inflation figures are published.

10am:
George Osborne, the chancellor, holds a press conference with Christine Lagarde, the IMF managing director. The IMF is publishing a report on the UK economy.
9.30am: Inflation figures are published.

10am:
George Osborne, the chancellor, holds a press conference with Christine Lagarde, the IMF managing director. The IMF is publishing a report on the UK economy.
10am: Alan Johnson, Lord Smith and Tom Watson give evidence to the Leveson inquiry.10am: Alan Johnson, Lord Smith and Tom Watson give evidence to the Leveson inquiry.
10am: Tim Loughton, the children's minister, gives a speech to mark the publication of the Prof Eileen Munro's child safeguarding progress report.10am: Tim Loughton, the children's minister, gives a speech to mark the publication of the Prof Eileen Munro's child safeguarding progress report.
10.30am: Sir Bob Kerslake, head of the civil service, gives evidence to the Commons public adminstration committee about the honours system.10.30am: Sir Bob Kerslake, head of the civil service, gives evidence to the Commons public adminstration committee about the honours system.
10.45am: Brian Moore, head of the UK Border Force, gives evidence to the Commons home affairs committee.10.45am: Brian Moore, head of the UK Border Force, gives evidence to the Commons home affairs committee.
11am: Theresa May, the home secretary, speaks at the Association of Chief Police Officers annual conference.11am: Theresa May, the home secretary, speaks at the Association of Chief Police Officers annual conference.
12.30pm: Lynne Featherstone, the Home Office minister, gives evidence to the Commons home affairs committee about private investigators.12.30pm: Lynne Featherstone, the Home Office minister, gives evidence to the Commons home affairs committee about private investigators.
1pm: Ed Davey, the energy secretary, publishes the draft energy bill. As Fiona Harvey reports, a dash for gas, a major fillip for nuclear power and blows to renewable energy are expected to be the key features.1pm: Ed Davey, the energy secretary, publishes the draft energy bill. As Fiona Harvey reports, a dash for gas, a major fillip for nuclear power and blows to renewable energy are expected to be the key features.
2.30pm: Nick Clegg takes questions in the Commons.2.30pm: Nick Clegg takes questions in the Commons.
2.45pm: Caroline Spelman, the environment secretary, gives a speech to the Association of British insurers.2.45pm: Caroline Spelman, the environment secretary, gives a speech to the Association of British insurers.
3.30pm: MPs debate a motion calling for the culture committee report on phone hacking, which accused News International executives of misleading parliament, to be referred to the standards and privileges committee.3.30pm: MPs debate a motion calling for the culture committee report on phone hacking, which accused News International executives of misleading parliament, to be referred to the standards and privileges committee.
As usual, I'll be covering all the breaking political news, as well as looking at the papers and bringing you the best politics from the web. I'll post a lunchtime summary at around 1pm and another in the afternoon.As usual, I'll be covering all the breaking political news, as well as looking at the papers and bringing you the best politics from the web. I'll post a lunchtime summary at around 1pm and another in the afternoon.
If you want to follow me on Twitter, I'm on @AndrewSparrow.If you want to follow me on Twitter, I'm on @AndrewSparrow.
And if you're a hardcore fan, you can follow @gdnpoliticslive. It's an automated feed that tweets the start of every new post that I put on the blog.And if you're a hardcore fan, you can follow @gdnpoliticslive. It's an automated feed that tweets the start of every new post that I put on the blog.