IW Capital found the Budget failed to capitalise on work from the Women In Finance Charter to boost female representation at high levels in business.
A week on from an Autumn Budget that failed to address the differences in opportunities for women compared to men, IW research looking at female sentiment in business shows that:
- Men are 46% more likely to have aspirations of securing a role at senior management, director and/or board level upon leaving school
- Women are 52% more likely not to have any investable assets available outside of their residential property or pension than men
>See also: Why half the women in Britain have no financial investments
Gender inequality still a problem
IW Capital CEO Luke Davis comments on what could be done to improve what is a staggering inequality in the UK business and finance sector.
“Financial services contributed £119 billion to the UK’s economy in 2017 and so making sure that it has the widest possible pool of talent to draw from is vital.
“Encouraging aspiration to reach these upper echelons of business is key to ensuring that this sector continues to grow and bolster the UK economy. By ignoring the problem of gender inequality the government risks not getting the most out of 50% of the talent, ideas and passion that make UK finance and business a world player.
“The investment and alternative finance communities need to reflect the diversity they represent in the private sector and the government should be using landmark announcements such as the Budget to further its work in the Women In Finance Charter. With Brexit around the corner, it is imperative to ensure that all business leaders are adequately supported to reach their potential and support the UK on the international stage.”
>See also: The rise of Gender-Smart Investing
For how to pledge your organisation’s commitment to the Women in Finance Charter click here.