Nicky Morgan unveils final plans for gender pay gap reporting
From 2018 businesses with more than 250 employees will have to release an annual set of figures showing the gender pay gap in various pay bands.
The move will affect approximately 8,000 companies, who will be ranked in league tables.
Ms Morgan, the Equalities Minister, said: “We’ve seen the best employers make ground-breaking strides in tackling gender inequality. But the job won’t be complete until we see the talents of women and men recognised equally and fairly in every workplace.
“That’s why I am announcing a raft of measures to support women in their careers, from the classroom to the boardroom, leaving nowhere for gender inequality to hide.
“At the same time, I’m calling on women across Britain to use their position as employees and consumers to demand more from businesses, ensuring their talents are given the recognition and reward they deserve.”
Carolyn Fairbain, the director-general of the CBI, said the changes must not be used to target firms.
"League tables should not be used to name and shame firms, as data will only be able to present a partial picture, particularly given factors such as the mix of part-time and full working and sectoral differences,” she said.
"Where reporting can be useful is as a prompt for companies to ask the right questions about how they can eradicate the gender pay gap.”
Kate Green, Ms Morgan’s Labour shadow, said the Government’s approach “simply isn’t good enough for women”.
“2018 is far too long for women to wait when the UK gender pay gap remains well above the EU average. At this rate it will be another 47 years until the gap is closed, so we haven’t a moment to lose.”
The TUC called on the Government to take a “much bolder approach” and said there was “no need for such a long delay”.