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UK workers 'frustrated by flatlining pay', says key economist

UK workers 'frustrated by flatlining pay', says key economist

Business
Media playback is unsupported on your devicePeople in the UK feel "frustrated and squeezed" because their pay has flatlined for a decade, the Bank of England's chief economist has said.Andy Haldane told BBC Newsnight that businesses had not invested enough to give the productivity improvements necessary to push up pay.Low pay had contributed to low interest rates, which will remain relatively low for "a pretty long time", he added.Earlier he told BBC Wales the Bank needed to look at raising rates."We've gone through, for most people, a pretty extraordinary, almost unprecedented period of real take home pay having flatlined for the better part of a decade, and that is well beyond anyone's historical experience."And understandably people are feeling frustrated and squeezed by that squeeze on...