FEMALE FINANCIAL PAY UNFAIR, SAYS MINISTER
Despite women making up 49 percent of the workforce of the financial sector, they earn on average 40 percent less than men, making them the victims of the biggest gender pay gap on the UK. Nationally the gender pay gap stands at 22.6 percent.
Additionally it is reported women in the finance sector find discrimination in getting to senior roles and face sex discrimination and sexual harassment.
The Minister also promised Government action and an inquiry by the Equality and Human Rights Commission, saying: “I just don’t believe women are less committed, less hard-working or less able than men. So they shouldn’t be paid less. As well as this inquiry by the Equality and Human Rights Commission there will be some tough measures in the new Equality Bill which will help further narrow the gender pay gap.”
The Minister addressed a TUC conference in London about equality reps, saying that although in the past the labour market has been valuing the wrong things, equality reps could be the catalyst for change in workplaces.
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