UK: Block exemption debate
Sir Richard Branson, speaking as chairman of the Internet car sales company VirginCars, has called for the end of the block exemption in car distribution in the EU, saying this would led to an average 5 per cent cut in new car prices and give "greater leverage to the consumer." Different brands should be sold next to each other in the same premises, like other goods, Sir Richard told the Economic and Monetary Affairs Committee of the European Parliament in Brussels. He said the change should happen "in seven months" rather than the seven years proposed by others.
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