- Wednesday, April 24, 2024
By: Keerthi Mohan
The Minister for Women and Equalities Penny Mordaunt on Wednesday (3) unveiled a road map to help women financially empower themselves from their school days to retirement.
Mordaunt, who was recently appointed UK’s first ever defence secretary, said the road map is intended to “define and guide how we tackle the barriers women face as they journey through life.”
“I want everyone in our country to be able to thrive in life,” said Mordaunt. “That means being able to be in control of the choices you make and have the opportunities you have to seize.
“We must be honest that many women do not have those choices or opportunities, and as a consequence are not able to be as financially resilient or independent”.
Women in the UK are more likely to achieve higher qualifications than men, but they are more likely to take on unpaid work and likely to save less into their private pensions. They are also more likely to take time out of work to care for relatives.
“This inequality is faced at every stage of a woman’s life – from how she is treated in the classroom, to the caring roles she often takes on, and the lack of savings or pension she accumulates,” pointed out Mordaunt.
“I’m confident today’s announcement will be the first step in a long-term commitment by this government to empower everyone in this country, helping them truly reach their full potential, from birth to retirement,” she said.
The publication, titled Gender equality at all stages: A roadmap for change, details the government’s plan to improve gender balance across higher and lower paid industries and occupations.
Calling the report a “potential game changer”, Chartered Management Institute CEO Ann Francke said: “Gender inequality is a complex issue with many causes rooted throughout education, society, culture and the workplace.
“The Government’s Gender Equality Roadmap acknowledges this breaks down the problem into its many component parts, aiming to offer practical solutions and success measures for each.
“It’s ambitious, comprehensive and collaborative. Well- executed it is a potential game changer and an excellent source of practical insight, policies and advice to help all UK organisations go further, faster to achieve gender balance.”
