Source · Select Committees · Treasury Committee
Recommendation 19
19
Rejected
Gender pay gap reporting fails to incentivise action for reducing large pay gaps.
Conclusion
Gender pay gap reporting has increased transparency around pay gaps, but it has not incentivised firms to take action to reduce pay gaps in the way that had been hoped and we are concerned by the evidence we heard that suggests large pay gaps in financial services have come to be accepted as the ‘norm’. (Paragraph 106) 42 Sexism in the City
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.
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 ↗