Economics
In the News
What's behind low productivity and flatlining pay?
30th June 2017
Newsnight interviews Andy Haldane, Chief Economist of the Bank of England on the contributory causes of the flat-lining of pay over the last ten years. Why has productivity stalled? Haldane argues that perhaps only 5 per cent of firms are taking the "productivity high road" whereas the UK economy suffers from a long tail of relatively inefficient firms whose productivity is low and who cannot afford to pay people more.
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