{"id":67555,"date":"2018-03-09T01:20:31","date_gmt":"2018-03-09T01:20:31","guid":{"rendered":"http:\/\/www.bnreport.com\/reeves-pens-letter-for-pay-parity-in-writing\/"},"modified":"2018-03-09T01:20:31","modified_gmt":"2018-03-09T01:20:31","slug":"reeves-pens-letter-for-pay-parity-in-writing","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/reeves-pens-letter-for-pay-parity-in-writing\/","title":{"rendered":"Reeves pens letter for pay parity in writing"},"content":{"rendered":"

Rachel Reeves, the Business, Energy and Industrial Strategy Select Committee Chair, wrote the Financial Review Committee earlier this month about the FRC\u2019s proposed revisions to the UK Corporate Governance Code.<\/p>\n

She was disappointed the tweaks for the remuneration section did not address the gender pay gap.<\/p>\n

\u201cNearly 50 years since the Equal Pay Act, it\u2019s already clear from the company data published so far that British businesses have a long way to go to close the gender pay gap,\u201d Reeves said, while alluding to the new requirement that companies must publish their gender pay gap statistics at the end of their current fiscal years.<\/p>\n

Read more<\/strong>: Chair of influential business committee has "serious concerns" about GKN<\/a><\/p>\n

The UK Corporate Governance Code is meant to hold companies with premium listings on the London Stock Exchange accountable to their shareholders by ensuring ethical internal company practices, so Reeves does not think publishing gender pay gap reports are enough to tackle this issue.<\/p>\n

\u201cA public commitment and associated actions should be an important element of good corporate governance and included in the revised Code,\u201d she wrote. \u201cIt\u2019s disappointing then that the FRC\u2019s proposed revision to the Corporate Governance Code has literally nothing to say on the gender pay gap.\u201d<\/p>\n

All 12 times the proposed revision mentioned gender was to discuss gender balance or diversity rather than pay parity.<\/p>\n

Peter Timberlake, head of communications at FRC, thanked Reeves for the letter but would not disclose whether her propositions would be included, since he could not comment on individual responses to the code. The FRC is taking suggestions for it until Wednesday and is planning to publish the updated code this summer.<\/p>\n

Read more<\/strong>: Working women are still paid 15 per cent less than men on average<\/a><\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

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CityAM<\/a><\/h5>\n

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Rachel Reeves, the Business, Energy and Industrial Strategy ..<\/p>\n","protected":false},"author":1,"featured_media":67556,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-67555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nReeves pens letter for pay parity in writing - Business News Report<\/title>\n<meta name=\"description\" content=\"Rachel Reeves, the Business, Energy and Industrial Strategy ..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/reeves-pens-letter-for-pay-parity-in-writing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reeves pens letter for pay parity in writing - 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