Oral Answers to Questions

Debate between Simon Hoare and Victoria Atkins

Thursday 17th May 2018 Commons Chamber

[Simon Hoare (North Dorset) (Con)]

6. What steps the Government are taking to help ensure that women are better represented at the highest levels of business.

[The Minister for Women (Victoria Atkins)]

Diversity is good for business. Organisations with the highest level of gender diversity in their leadership teams are 15% more likely to outperform their industry rivals. There are now no all-male boards in the FTSE 100, compared with 21 such boards in 2011, and the percentage of women on FTSE 350 boards has more than doubled since 2010. However, we know that there is more to do, which is why we commissioned the Hampton-Alexander review to improve female representation at the most senior levels in business.

[Simon Hoare]

Clearly, progress is being made, but in thanking my hon. Friend for her answer, may I ask how the Government are engaging positively with our business community to help meet the important Hampton-Alexander goals?

[Victoria Atkins]

I thank my hon. Friend, who has taken a long interest in diversity matters. Indeed, he is meeting the Under-Secretary of State for Business, Energy and Industrial Strategy, my hon. Friend the Member for Burton (Andrew Griffiths), this afternoon to discuss this topic. The Government-backed Women’s Business Council’s recent toolkit, “Men As Change Agents”, calls on FTSE 350 chief executive officers to embrace three asks to deliver the required pace of progress, including sponsoring women from within their organisation with the potential to secure an executive role within three years. My hon. Friend is keen to be an agent of change, and I welcome his support and that of other male colleagues in driving the progress that we all want to see.