Britain announces new regulations on gender pay gaps. It forces large firms to declare the wage imbalance paid to their male and female workforce.
UK GENDER PAY GAP: It is an effort to combat the gender salary gap in Britain.
The additional notifications mean the law will require companies to publish more pay details.
The UK Prime Minister [David Cameron] announced the changes in July. Big corporations would be compelled to disclose information on how much they pay men as compared to women.
The new rules follow a recent consultation on how to design the new gender pay gap regulations.
It covered details about the bonuses and the relationship between income and the sex of their employees.
The government reiterated that the biggest employers would now need to declare and reveal information about bonuses. The public sector should also reveal the levels of pay received by its male and female staff.
In Britain, as a rule, female workers earn 20 per cent less than their male counterparts. That is according to statistics released by recent official data.
The UK Minister for Women and Equalities Nicky Morgan was quoted as saying: "It should appall us all that we still do not have gender equality in every aspect of our society".
The UK Business Secretary announced a significant increase in the number of women who hold top jobs at FTSE 100 companies.
The findings come from a recent Hampton-Alexander Review. Even so, despite having 349 females now sitting as board members, there is still room for further improvement.
The CBI is the Confederation of British Industry based in London. They are the premier business lobbying organisation. They also provide a voice for employers at a national and international level throughout the United Kingdom.
A spokesman from the CBI responded. He said that eradicating the difference in pay was important. But, blanket rules might not be the best solution.
To be truly effective, gender pay gap reporting must be relevant to each company rather than a box-ticking exercise.
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