Corporate governance reform needed to tackle gender pay gap

• Letter from the Chair to Financial Reporting Council regarding Corporate Governance code 7 February 2018.pdf
• Business, Energy and Industrial Strategy Committee

British businesses have long way to go to close gender pay gap

Rachel Reeves, Chair of the Business, Energy and Industrial Strategy Select Committee said:

"Nearly 50 years since the Equal Pay Act, it's already clear from the company data published so far that British businesses have a long way to go to close the gender pay gap. It's disappointing then that the FRC's proposed revision to the Corporate Governance Code has literally nothing to say on the gender pay gap.
 
As a first step, the FRC should place a requirement on remuneration committees to explain how the company remuneration policy will address any gender pay gap in the company and what action is being taken to address it. This would send a powerful message throughout the business community and signal a more determined and tangible approach to closing the gender pay gap."

Further information

• About Parliament: Select committees
• Visiting Parliament: Watch committees

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