Panorama investigates how antique guns are being brought into the UK perfectly legally and ending up in the hands of criminals. Panorama buys two handguns, one in America, carrying it through customs, and the other from an antique guns fair in Birmingham. Under current legislation it is legal to buy and sell guns provided commercially manufactured ammunition is no longer available. But criminals are home making ammunition for these antique weapons and then using them to kill. Gloucester gun dealer Paul Edmunds flooded the streets of Birmingham and London with antique guns as well as modern guns passed off as antiques. These weapons have been used in multiple murders. Now West Midlands Police and the National Ballistics Intelligence Service are calling for a change in the law to close this loophole.

The Academies Scandal. More than 7,000 schools in England have been turned into academies and are now run by private trusts. The people in charge are not supposed to profit from children's education, but what's to stop them from cashing in? Reporter Bronagh Munro investigates a businessman whose companies have been paid millions from school budgets and asks whether it's the pupils who are paying the price.