The government said the UK was one of the first countries in the world to report on the gender pay gap currently just over 18 per cent, following the lead from Australia, which passed similar legislation in 2012 and Germany, where a forthcoming law will affect companies that have more than 500 employees. The new rule in the UK affects firms employing at least 250 workers - which covers 15 million employees - and compels them to give wage figures by April 2018. Closing Britain's pay gap could add £150 billion to the country's annual gross domestic product by 2025, according to consulting firm McKinsey Global Institute.
Narrow gender pay gap
Minister for women and equalities Justine Greening explained: ‘We have more women in work, more women-led businesses than ever before and the highest proportion of women on the boards of our biggest companies. This has helped us to narrow the gender pay gap to a record 18.1 per cent, but we want to eliminate it completely. Helping women to reach their full potential isn't only the right thing to do, it makes good economic sense and is good for British business…I am proud that the UK is championing gender equality and now those employers that are leading the way will clearly stand out with these requirements.’
Discrimination
The Chartered Management Institute said its research showed that four out of five managers had witnessed gender discrimination in their workplace in the past year. Chief executive Ann Francke said: "We may live in more enlightened times but clearly we still have some way to go. Men and women have an equal role in creating a company culture that benefits all, so managers must call out any bad behaviour whenever they witness it."
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