Rachel Reeves, the Chancellor of the Exchequer, has announced her commitment to closing the gender pay gap and supporting women in business. She stated that she sees it as a significant responsibility to lead the Treasury and aims to strengthen women’s rights at work and invest in childcare. Reeves unveiled the Government’s support for the Invest in Women Taskforce, which focuses on increasing investment funding for female entrepreneurs. The taskforce aims to create a funding pool of over £250 million for businesses founded by women, making it one of the world’s largest investment funding pools dedicated to female founders.
The Rose Review, led by Dame Alison Rose, highlighted that if the UK had the same proportion of female entrepreneurs as comparable countries, it could add £200 billion to the economy. Reeves is expected to play an active role in steering the taskforce’s objectives. She emphasised the importance of her position as the first female Chancellor in using it to enhance opportunities for women across the UK. Reeves highlighted her priorities of closing the gender pay gap, bolstering workplace rights, and supporting childcare.
In celebration of International Equal Pay Day, the Chancellor is hosting a reception for female business leaders at Number 11 Downing Street. The event aims to bring together influential women from various sectors such as financial services, technology, and the creative industry. Reeves expressed her belief that everyone can contribute to women’s equality, whether by supporting women and girls in achieving their goals or fostering fairer workplaces. She stressed the significance of collective efforts towards gender equality.
The Chancellor’s commitment to improving the economic landscape for women in business aligns with her vision of a more inclusive and supportive environment. By championing initiatives like the Invest in Women Taskforce, Rachel Reeves signals her dedication to empowering women and advancing gender equality in the realm of entrepreneurship.