Halliday & Matthiessen (1999: 215):
English foregrounds location in the flow of time (tense), and construes this not only as past/present/future relative to 'now' [they paid me/they pay me/ they will pay me], but also as past/present/future relative to some moment that is relative to now [they are going to pay me (future in present), they've been paying me (present in past in present)], with the possibility of up to five shifts of reference point, as inThey said they'd been going to've been paying me all this time …(present in past in future in past in past). This system is fully grammaticised, and is unusual in that it construes location in time as a logical relation rather than as an experiential taxonomy; it thus becomes a form of serial time reference. The tense categories also combine with time adverbs such as already, just, soon [they'd already paid me, they've just paid me, they soon paid me]. Interestingly, the deictic time reference (that appealing to 'now') can be switched off; either there is no deixis (the clause is non-finite, e.g. not having paid me yet...) or the deixis takes the form of modality (speaker's angle on the process, e.g. they should have paid me).