Monday newspaper round-up: Sunak, airlines, ventilators
Pressure is mounting on Rishi Sunak to extend his coronavirus bailout to the UK’s five million self-employed people, with gig workers threatening legal action against the chancellor’s current “discriminatory” policy and a survey suggesting half would keep working if they had symptoms. On Friday, Sunak said self-employed workers could access £94.25 a week in universal credit, but he gave a far more generous deal to employees of 80% of salaries, capped at £2,500 per month. – Guardian
Airlines and airports have warned that time is running out for the government to enact promised measures to help the aviation industry, with EasyJet and Ryanair set to stop flying after Monday and less than 5% of normal passenger numbers expected at major airports. Further talks are expected between ministers and the industry on Monday as the government wrestles with how to keep critical infrastructure functioning. – Guardian
A final design of ventilator that can be rushed into mass production is expected to be agreed on by the Government and its health advisers as soon as today. Officials were set to start meetings yesterday about selecting a single blueprint for the life-saving machines, which are needed to treat patients suffering from respiratory problems caused by coronavirus. – Telegraph
The economy is expected to collapse this year as the coronavirus outbreak brings Britain to a standstill, leading economic forecasters have warned. KPMG, in its latest quarterly economic outlook, has slashed growth forecasts for the year, predicting that the pandemic could cause the UK economy to shrink by up to 5.4pc in 2020 unless public health measures were able to stem the rise in infections. – Telegraph
Britain’s top listed companies have been banned from publishing their annual results for at least the next fortnight in an unprecedented move by the City regulator to deal with the chaos caused by the coronavirus. The instruction, contained in a letter sent by the Financial Conduct Authority (FCA) to regulated companies over the weekend, immediately prompted speculation that it was the prelude to a full markets shutdown. – The Times
Short-selling positions more than tripled last week as hedge funds scoured the London market for vulnerable companies to bet against. Such activity has surged to its highest levels since records began just over seven years ago, according to analysis by The Times of official data, prompting calls for an outright ban on shorting. – The Times