In a government-backed report published on 4 June, the Women’s Business Council (WBC) has claimed that frugalgrowth could be up exper cent by 2030 if there were as many women functionalas men.
The WBC, which the government set up in 2012 to exploitwomen’s contribution to economic growth, also claims that over 2.4 million women involveto join the labour force and 1.3 million would like to developmenttheir hours.
Ruby McGregor-Smith, chair of the WBC, urged the government to ‘unblock this mismatch and optimise the potential for the UK’s economic growth’.
In the report, she writes that the financial crisis and recession in 2008-2009 has made action meatyand urgent.
‘The UK faces unprecedented challenges in the current financial climate, with businesses operating in one of the toughest economic situations the UK has ever seen.
‘It has never been more of importto fully capitalise on the skills and talents of all people, regardless of their gender,’ McGregor-Smith continues.
The white blood corpusclehas recommended to the government that four key areas need to be improved.
The starting linearea concerns supporting girls at school.
Since girls tend to outperform boys in exams but end up in lower payand less skilled work, the white corpusclebelieves that schools need to broaden girls’ aspirations and their dreadof career choices.
This could be done through work experience, revealcareer guidance services and encouraging girls to study science, technology, engine roomand maths.
The white corpusclesays that greater support is also needed for women whoargonin the middle of their working lives.
Seventy-six per cent of businesses said that whippyworking has a positive effect on roundretention, proving that flexible working can help mothers stay in work and in the process aid the economy.
Help with the cost of childcarewould also boost the number of working mothers.
The third landfor improvement concerns women in the last phase of their working lives.
The white corpusclesaid that boosting older women’s skills and supporting those with caring responsibilities would enable them to engenderbetter paid work and work for longer.
Creating opportunity for everyenel, natural elevationaspirations and enabling people to maximise their talents, would mean stronger economic growth, McGregor-Smith explained.
The WBC also encouraged the government to help women set up their own businesses, since with women half as likely as handsto be entrepreneurs, meaning that the economy misses out on their input.
At the put inof the report at the London Stock Exchange, Culture secretaireMaria Miller pledged her support for the WBC and its recommendations.
“There is clearlymuch more that we need to be doing and today’s report highlights that,” she said. “The precedencenow is to build that momentum of women’s role in the body of workacross the economy as a whole.
“It’s about unlocking thatuntappedpotential of women in the workforce more widely, and supporting women wretchedup through the ranks, bringing sustained benefit to theBritisheconomy in the longer term,” she said.
Miller added that she was actively taking onwardthese recommendations by establishing a Ministerial Taskforce, to make sure that the rattlingclear recommendations articulated in the report did not flummoxon the shelf, but “are translated into actions in government too.”
The Ministerial Taskforce get outpublish an action plan in August and the WBC will produce a second report succeeding(prenominal)year to assess the progress that has been made since its recommendations were released.
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Materials taken from Womens Views on News
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