Source · Select Committees · Treasury Committee
Recommendation 17
17
Rejected
Paragraph: 104
Financial services sector has the UK's largest and slowest-closing gender pay gap.
Conclusion
The financial services sector is well paid compared to many other industries, but it has the largest gender pay gap of any sector in the UK economy and that pay gap is reducing at such a glacial pace that it could take 70 years to close it at the current rate of progress. That is simply not good enough for such an important sector of the UK economy, and it is clear that further specific action targeted at reducing pay gaps is required.
Government response summary AI-generated
The government agrees reporting alone is insufficient but believes it is too soon to change requirements and rejects the idea of mandatory action plans, arguing they would be unfair, ineffective, and burdensome for businesses.
Paragraph Reference:
104
Government Response
The government responded to this report on 14 May 2024. No passage in that response could be matched to this conclusion. Read the response document ↗