Women: Board Membership

Lord Flight Excerpts

Thursday 7th March 2013 Lords Chamber

[Baroness Stowell of Beeston]

As the noble Lord knows, the Government very much welcomed the reasoned opinion put forward from this House and the other place. Sadly, I am told that not enough member state Parliaments issued a reasoned opinion for that to be successful in raising what is termed a red card or yellow card in Brussels—I am not sure. As far as we are concerned, we are still actively working with other EU members to make sure that whatever arrives finally from the European Commission supports our own approach to this issue.

[Lord Flight]

My Lords, I believe sincerely that there is a general wish and support for more suitably qualified women on boards. Yet surely the role of directors is to oversee the running of a business and that needs people with the appropriate skills. To the extent that they are representative, they are representative of shareholders and not really in a quantitative context of the nation at large.

[Baroness Stowell of Beeston]

Okay. I say to my noble friend that we need more women on boards because half the people who spend money in the economy are women, as are half the people who have pensions that are part of the investment into those companies that enjoy that benefit. We just bring so much more that I find it astonishing that he does not feel the same way.