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The Times & The Daily Telegraph
Volkswagen’s group sales and market share in the European Union dipped in October, suggesting that the emissions scandal might have had an impact. VW Group’s total EU sales were 0.5% down from October 2014, while market share slipped to 24.9% from 25.37%. The data from the Association of European Carmakers (ACEA) also showed a slowdown in EU growth as a whole. Just more than 1.1 million cars were sold in the EU last month, up 2.9% on last year but 9.8% down on September.
The UK’s inflation rate as measured by the Consumer Prices Index remained at -0.1% in October, the Office for National Statistics has said. The news will further dampen expectations of a rise in interest rates any time soon. The Bank of England said earlier this month that the global economy was weakening, depressing inflation risks. Following this report, many economists forecast that rates would not rise until well into next year. The ONS added that the Retail Prices Index, a separate measure that includes housing costs, fell to 0.7% in October from 0.8% in September. This is the lowest RPI rate since November 2009.
The new “national living wage” will push up wages at more than half of all employers, forcing many of them to seek savings through improved productivity, according to a major survey. The survey, one of the first to test the mood among employers before the higher wage comes into effect next April, found that 54% of respondents said it will have a material effect on their wage bill.
The Daily Telegraph
The House of Lords today resumes consideration of the European Union Referendum Bill, which should offer British voters an overdue and welcome say on membership of the EU by the end of 2017. Labour and Liberal Democrat peers – who hold sway in the upper chamber – want to extend the franchise for the referendum, allowing 16- and 17-year-olds to vote. Advocates argue that since people of that age may vote in elections to the Scottish Parliament, they should also be able to vote on Europe. This logic is obviously flawed: just because something happens in Scotland, that does not make it right. The case for votes at 16 is far from clear, and we remain unconvinced.