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A vote for the UK to leave the European Union could have a “negative and substantial effect” on economic growth, the International Monetary Fund said. In its regular health check of the UK economy, the IMF said that a Brexit vote would result in a “protracted period of heightened uncertainty”. That would cause volatility on financial markets and economic output to decline. Brexit could also erode London’s status as a global financial centre, it said. The IMF said it expected growth to fall below 2% for the full year in 2016 before returning to an average of 2.25% over the medium term.
The Financial Times
Nissan has agreed to become Mitsubishi Motors’s largest shareholder, as its smaller Japanese rival seeks outside capital to survive a scandal over inflated fuel economy data. Nissan, Japan’s second-largest carmaker and partner in an alliance with Renault, is to inject ¥237bn ($2.2bn) into Mitsubishi by buying newly issued shares that will amount to a 34 per cent stake.
The Daily Telegraph
Learner drivers will be encouraged to show that they are “courteous” to elderly motorists before taking their tests to improve road safety, the Government has announced. Ministers want to all learner drivers to fill in a voluntary logbook online to track their progress before they take their tests. They could also be required to show that they understand the importance of demonstrating “courtesy towards other, especially vulnerable, road users”.
Councils that treat motorists like “cash cows” by raising parking charges and imposing hundreds of fines will be named and shamed under new plans. The Times has learnt that the government will force local councils to publish a range of data, including the amount of “surplus” cash they make from parking. For the first time, full details of the number of penalty charges on cars and the total of vehicles towed away by councils will be released. Councils generated a record £1.45 billion through parking tickets and permits last year.
House prices and family incomes would tumble if Britain left the European Union as the pound crashed, inflation spiked and economic growth collapsed, the Bank of England has said in its latest inflation report. The warning came as the Bank held interest rates at 0.5 per cent for the 86th month and downgraded growth, even after stripping out the effects the uncertainty around the referendum is having on the economy.
The Daily Mail
Changes to the driving test are being considered in response to the development of driverless cars.
Several reforms to lessons and practical tests are already being piloted in a bid to make them more realistic.
But a Government report reveals that alternations will also be made as driverless car technology becomes more prevalent on Britain’s roads. The Department for Transport’s (DfT) motoring services strategy stated : “D VSA will reform the driving test (and, thereby, pre-test learning) to encourage more real life driving experience and ensure that it takes account of local variations and increasing vehicle automation.” Steve Gooding, director of motoring research charity RAC Foundation, said the policy shows that ministers “have their eyes firmly on the road ahead”.
The Daily Mirror
According to new figures, some 2,090 motorists were charged with drug-driving last year – more than double the 870 caught in 2014Drug-driving charges soared by more than 100 percent last year as Brit motorists caught under the influence reached new highs. According to new figures, some 2,090 motorists were charged with drug-driving last year – more than double the 870 caught in 2014. At least 15 percent of motorists admitted to driving while under the influence of drugs, the figures, obtained by Confused.com, revealed. However, almost a quarter of drivers are unaware that it is an offence to drive when taking certain prescription medication. The staggering rises comes following the introduction of new drug-driving laws in March 2015.