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Equal pay law shocks bosses
24 Apr 2009Business leaders expressed shock today as it emerged the Government will introduce compulsory “gender pay audits”.
In a bid to tackle “Sexism in the City”, the Equalities Bill is to include a landmark measure to shame bosses who pay women less.
The law, which will apply to companies with 250 or more staff, would require the publication of average hourly earnings of all staff. Bonuses will have to be included, not just salaries. Recent research from the Equality and Human Rights Commission found City bonuses paid to women were 79 per cent lower than men's.
Business groups were taken aback as they said they had been assured they would face no new regulations in the recession.
Firms will be given until 2013 to comply. After that they will face prosecution.
