David Cameron has today pledged to eliminate the gender pay gap “within a generation”.
The Conservatives are planning to narrow the gap by making all companies with over 250 employees publish their average pay of male and female employees within the next 12 months.
According to the Office of National Statistics, there is a 9.4% difference in pay between male and female workers who are employed in the same role. This is the closest the gender pay gap has been since comparative records began in 1997.
Mr Cameron believes the gap can continue to be narrowed, and that publishing details on gender pay will “cast sunlight on the discrepancies and create the pressure we need for change, driving women’s wages up”.
The Women and Equalities Minister Nick Morgan has urged business leaders to show a “real commitment” to narrow the pay gap, and has praised many businesses claiming that the gender pay gap had “virtually been eliminated for under 40s working full time.”
There was more praise for the news today, Anne Francke, of the Chartered Institute has called the Conservatives plan a “great, bold step”.
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