Source · Select Committees · Treasury Committee
Recommendation 18
18
Paragraph: 105
Require PRA and FCA to review bonus cap removal impact on gender pay inequality.
Recommendation
Given that gender bonus gaps are typically even larger than gender pay gaps, we are concerned that the removal of the bankers’ bonus cap could increase the difference between the overall take-home pay of men and women in financial services, especially given that pay gap reporting appears to provide little incentive against this. We recommend that the PRA and FCA monitor this closely, and formally review the impact of the bonus cap removal on gender pay inequality in two years’ time.
Paragraph Reference:
105
Government Response
A response document is linked to this report, dated 14 May 2024. Response attribution to this recommendation has not been verified. Read the response document ↗