Exeter businesses indicate an end to the employee pay freeze

The latest Exeter Business Survey, carried out by Exeter Chamber of Commerce, shows the highest ever percentage of Exeter businesses planning to increase employees salaries.

90% of businesses surveyed said they will not be implementing a pay freeze for their staff, the highest figure since the survey began in March 2007.

Exeter Chamber of Commerce and Industry met with the Bank of England, on 18 September 2014 to report the findings of their Business Survey, for the last quarter.

The Business Survey also shows that investment has increased in the last quarter with 57% of members investing in their company, up 14% from March 2014. Furthermore, 100% of those surveyed said they would not be introducing a shorter working week for employees.

Derek Phillips, vice president of Exeter Chamber of Commerce and Industry said: “It was good to see the pay freeze for Exeter business appears to be over, with the highest number intending to increase wages since before the recession.”