"I think the signs are more encouraging on the pay front than they have been for some little while," Haldane told Sky. "I think the key to unlocking pay will be signs of improvement in the economy's productive potential. Higher pay needs to be paid for... so I hope we might be nearing the end of the tunnel on both pay and productivity."
The Bank of England's chief economist says we're close to solving 2 of the economy's biggest issues
- Thursday, Sep 28 2017
The Bank of England's Chief Economist Andy Haldane believes that Britain may be "nearing the end of the tunnel" when it comes to two of the biggest problems that have blighted the economy in recent years. Speaking in an interview with Sky News, Haldane said that the worst may be over for the twin pillars of pay growth and productivity growth, both of which have been consistently weak in recent years.