‘Terrible’ to tell people to move city to find work – BoE chief economist


LONDON (Reuters) – British people should not be expected to move city to find work, and instead the government should find a way to revive depressed towns that have lost their original economic purpose, Bank of England chief economist Andy Haldane said on Friday.

Haldane, in an interview with the Financial Times, said finding a way to reinvigorate depressed towns was probably the biggest economic challenge facing Britain.

Regional economic policy is not the BoE’s job – which is to ensure financial stability and control inflation across the United Kingdom as a whole – but Haldane said understanding less prosperous corners of Britain was important for building a picture of the economy as a whole.

“I’ve not found a better way of tapping into a bit of a window on people’s souls than turning up and listening to what they have to say,” he said.

Asked if people who lived in poorer areas should move to a different city for work, Haldane said this was unreasonable…

Read more : Reuters, 09.03.2018