UK faces ‘acute challenge’ from weak growth and shrinking workforce, says Andrew Bailey

Bank of England governor tells Jackson Hole summit that ageing population is adding to the squeeze

Britain faces an acute challenge" from its weak underlying economic growth and a drop in the number of workers since the pandemic, according to the Bank of England governor, Andrew Bailey.

A rise in the number of people defined as long-term sick and a big drop in young people in work - factors that he suggested might be intertwined - added to the squeeze created by an ageing population.