Women: Contribution to Economic Life

Baroness Jenkin of Kennington Excerpts

Thursday 6th March 2014 Lords Chamber

[Baroness Jenkin of Kennington (Con)]

My Lords, we often talk about it being a privilege to speak in these debates but never has it been more genuinely so than today. We have heard some exceptional speeches, and I pay particular tribute to my noble friend Lord Holmes. I was not alone in the Chamber in listening absolutely raptly but I also had a tear in my eye.

I was not going to mention politics—or at least the representation of women in Parliament today—but I have been name-checked more than once, and rather generously, in this debate and I have to say that it is not me who has done the work; it is those who step up to the plate and put themselves forward. All I can do is provide encouragement and support in my own party. Here, I pay tribute to others in my party who have come before me, including the noble Baroness, Lady Howe, who has just spoken. She was an earlier pioneer in this field, as were my noble friends Lady Morris and Lady Seccombe. Talking about the pipeline, as my noble friend Lady Neville-Rolfe did earlier, I hope that I am not spoiling her chances but I happen to know that the granddaughter of my noble friend Lady Seccombe is in our pipeline and I wish her much success in her journey.

I was slightly stung by the noble Lord, Lord Smith, picking on my party. We should pay tribute to the fact that we went from 17 to 49 women MPs at the last election. It is true that four of them have announced that they are retiring for various reasons, but that is virtually the same proportion as applies to the Liberal Democrats and pretty much the same as applies to the Labour Party. This is all something that the APPG for Women in Parliament needs to look at—not only with a view to making politics a more attractive career for women but looking at retention as well.

I end this little section by saying, as I always do, that if any women are watching, listening to or reading this debate and they think they might be interested in a career in politics—with any party but particularly with the Conservative Party—please find your way to me. It is not difficult and I will respond immediately to any e-mail or call.

Since I made my maiden speech in a debate on this subject three years ago, I have spoken often on related subjects. In preparation for this debate, I reflected again on whether the glass is half full or half empty, and whether it is a little fuller today than it was when I made that first speech in this Chamber three years ago. I think that the answer is that it is like the curate’s egg: good in parts.

To put the debate in context, the past 50 or 60 years have seen a remarkable phase of economic growth both in this country and across the world. Four of the reasons for this are the growth in free trade, the introduction of free-market models by countries in the Far East, the introduction of IT into the economy and, of particular relevance today, the introduction of the female half of the human population into the labour force of developed countries. This has been an event of enormous social consequence and also enormous economic importance, so, from that base, let us have a look at where we are now.

Businesses with diverse workforces which harness and retain the capabilities of women as well as men are stronger performers and are better attuned to their client and customer base. Statistics show that if women were represented equally in the workforce, the UK could increase GDP by 10% by 2030. The next generation of women must feel that all areas of our economy are accessible to them and they must grow up believing that they can reach their full potential. The Inspiring the Future programme, supported by both Miriam Clegg and Samantha Cameron, successful businesswomen in their own right, together with other programmes such as Speakers for Schools, are doing good work in this area. As Ruby McGregor-Smith, chief executive of Mitie and a great business role model, said,

“by creating opportunity for all, raising aspirations and enabling people to maximise their talents, we will deliver stronger economic growth”.

Women already in business have an important role to play. As we have discussed, active female role models evidence the positive impact of women in business. We have many women in this House and a number speaking today who provide that role model, and I have been very impressed listening to their perspective.

Incidentally, when I looked at the speakers list for today, I was a bit disappointed that there were not more men on it. We very much welcome the contribution of the noble Lord, Lord Palumbo, in his maiden speech, and I have to say that the other six noble Lords have more than made up in quality for the lack of quantity. The truth is that we all know that, without buy-in and support from men, things change very much more slowly.

Younger women need role models, as has been said, and the business community as a whole needs to encourage women at every level. There are many fine examples of best practice. Liz Bingham, Ernst & Young’s managing partner, says:

“We need senior women in business to lift as they climb and to encourage young female talent up through their organisations”.

Here, as well as paying tribute to the noble Lord, Lord Davies, who has been mentioned by many others, I pay tribute to Helena Morrissey and others active in the 30% Club, who are having a major impact with their very effective and high-profile campaign.

We have heard a bit about entrepreneurship, which is becoming increasingly popular with young people who are attracted to the idea of working for themselves, and there are encouraging figures on start-ups. However, the gender gap is here, too, as my noble friend Lady Bakewell of Hardington Mandeville pointed out. If women were setting up and running new businesses at the same rate as men, we could have an extra 1 million female entrepreneurs, but they are only half as likely as men to take this opportunity. So what are the barriers and how can women be supported to overcome them? Financial institutions should ensure that their services are better marketed for women. Schools and business organisations should work together to ensure that students, and indeed mature women returners, know that starting their own business is a viable option and they should be well supported with advice through the process.

Entrepreneurship is also increasingly a popular option for women in the developing world. The flexibility allows women with limited transport options and obligations keeping them at home to earn a living with all the knock-on benefits. One entrepreneur I want to tell your Lordships about today is Zada, a 50 year-old widow from rural Afghanistan. She runs a small business making jewellery by hand. As a woman, she was not allowed to make the decision to start a business herself. She had to get permission from the men in her life—her adult sons—to attend a course at the Indian Institute of Gems & Jewellery. I declare an interest as Zada was trained and supported by Future Brilliance, of which I am a trustee.

Zada, who is unable to read or write because of Afghanistan’s limited schooling opportunities, is a pioneer in this new scheme, creating a network of skilled Afghan artisans who will set up businesses and spread their knowledge when Afghan security is handed back to its own Administration. The advantage is that these jewellery makers will be able to work from home. Zada will be able to expand her business and employ more women. Therefore, in terms of maximum return on capital employed, taking just this one woman and investing in her is potentially huge as far as the economy of her local village is concerned. Zada is an inspiration to the young women in her village, as Victoria Beckham, now a successful businesswoman herself, is to young women in the UK. Again, the power of a strong role model should not be underestimated.

Another major barrier to women entering the workforce in the developing world is lack of choice over their sexual and reproductive health and access to contraception. Nearly 15 years after the introduction of the MDGs, we are still way behind on some of the targets. On International Women’s Day on Saturday, 800 women will die from causes related to pregnancy and childbirth, 128 women will die from an unsafe abortion and 222 million women will still have an unmet need for family planning. If we continue at the current rate of expansion, it will take another 500 years for women in parts of western and central Africa to access the contraception they want. This is not only morally wrong but also has a massive economic impact.

I would like to take this opportunity to pay tribute to Bill Cash and my noble friend Lord McColl, as well as NGOs and Ministers, including the noble Baroness responding to this debate, and supporters from every party, for steering the International Development (Gender Equality) Bill successfully through both Houses and on to the statute book earlier this week. This is a positive outcome for us all to celebrate, particularly the women and girls in the developing world for whom this legislation has the potential to be a real game changer.

Noble Lords have talked about violence against women here at home and internationally. It is another issue that prevents women from entering the workforce. The report published this week, and referred to earlier, from the EU Agency for Fundamental Rights confirmed that one in three women across the EU have experienced such violence. Worldwide, the figure is higher. Women living with the threat of physical and sexual violence will never reach their full potential. The financial consequences of violence against women are not just borne by the victims but felt by their communities and the economy as a whole. The cost to the UK economy caused by violence against women and girls has been calculated at £40 billion annually. While an economic argument should not be needed, it clearly makes financial sense to do what we can to prevent it.

I shall end on a word about the impact of austerity measures on women. It is important for us all, and for the Government, to acknowledge the fact that because many women are in low-paid and part-time jobs, and in the majority of cases have to manage a tight household budget in challenging circumstances, they have borne and continue to bear the brunt of the very difficult economic circumstances in which we as a country find ourselves. But these difficult decisions to get the economy back on track are there so that there will be jobs for their children, and our children, and so that they can look forward to a secure old age.

Women clearly can and do make a massive contribution to the UK economy and the global economy. This is not just an issue of women having a choice. Female participation in the UK workforce and across the world is a necessity, without which we will never achieve a successful or sustainable economy. With the focus of the Government, good business practice and engagement with educational institutions, we can ensure that all women are aware of their options and know their value.