What's happening

The Centre for Economic and Business Research publishes a report that suggests that standards of living in the UK could fall by as much as a quarter over the next generation

9.30 Insolvency figures for Q2 are released

1.30 The US Labour department announces its latest unemployment figures

What's been said

Peter Oborne in The Telegraph calls for "a new and genuinely independent panel" to investigate fully the UK's role in torture

Bagehot in The Economist hails the "urbane guerilla", Michael Gove, who is assessed as "just too interesting to reach the very top"

An editorial in The Mirror chastises Britain's top cabinet ministers for going on holiday at a time of crisis, saying that "it beggars belief that his deputy Nick Clegg and George Osborne – this government’s real number two – decided to head off on holiday at the same time as their boss."