Budget Statement

Baroness Goudie Excerpts

Friday 12th March 2021 Lords Chamber

[Baroness Goudie (Lab) [V]]

My Lords, as a result of the pandemic, women have had to face career-altering decisions. Many women have had to scale back work obligations in order to focus on a family at home 24/7. What will be the long-term implications of this on the pipeline of women into senior positions? The Government must ensure that childcare facilities are available. Throughout the pandemic, a number of childcare facilities have had to close as they did not receive financial support. We know that first interventions with children are key to their future and the future of Britain. Further, getting women back into the workforce is key to our economy.

As we progress through 2021, we must challenge what could become expected norms. We must continue to take big strides in ensuring the number of women in leadership roles. Across the world, women from all cultures need to continue to hold positions in the boardroom, as there is a place for everyone at the board table. Diversity at the board table will have the largest impact on corporate culture and decision-making. It is crucial that we continue to strive for 50:50 representation of women and men on boards, in management teams, in Parliament and in government, and for those men and women to be diverse and from a wide range of creeds and colours.

The past 10 years have seen some progress; now it is time to raise the stakes and be even more ambitious for the next 10 years to come. To further economic progress, we must ensure that the FTSE 100 has reached 36% women on boards and the FTSE 350 has achieved 34%. Annual reporting of the gender pay gap and diversity must remain intact to continue the momentum and forward progress.

I encourage noble Lords to also challenge what is going on around them and look for ways to help us all to continue to drive towards equality for all women, men and children by not cutting education, apprenticeship or training budgets.