Oral Answers to Questions

Valerie Vaz Excerpts

Thursday 10th November 2011 Commons Chamber

[Mrs May]

My hon. Friend makes an extremely important point. There has been progress. We know that there are now only 12 all-male boards within the FTSE 100, down from 21 in 2010. We know that women have made up an increasing percentage of the directors appointed to FTSE 100 companies since Lord Davies’s report. The point she makes is absolutely right: having women on boards is not just a women’s issue; it is about the state of the economy, and it makes good business sense.

[Valerie Vaz (Walsall South) (Lab)]

But is the Minister for Women and Equalities aware that of the last 93 appointments only 21 were women, and that the Cranfield school of management has said that two thirds of companies have ignored what the Government have said. Do we not need more than a nudge and wink, and to have some more positive action?

[Mrs May]

I am sorry that the hon. Lady could not bring herself to welcome the progress made on this issue since Lord Davies’s report. We are adopting the approach of encouragement and working with businesses. I think that is the best way to change attitudes in the longer term. We have already seen from the work done in Australia that the significant increase in the number of women on boards can be achieved without having to go down the route of quotas.