Bosses plan to freeze pay next year

NINE out of 10 of the country’s top chief executives surveyed will be implementing a pay freeze next year, with a third expecting the unemployment rate to go above 15%.

Of those that said they expect to be implementing pay cuts in 2010, almost three-quarters said this pay cut would be greater than 5%.

The 1,000 chief executives surveyed by CB Richard Ellis also said that they expect bank funding for businesses and households to improve next year.