The gender pay gap has been in the news a lot recently, mainly driven by the new Gender Pay Gap (GPG) regulations introduced by the Government. These rules have encouraged around 10,000 of the largest employers in the UK to self-disclose their pay gap, which, by publishing this information, shames those with wide gaps into doing something about it. Theresa May has described the gender pay gap as a ‘burning injustice’.
Over the past decade, we’ve seen record levels of employment. But the amount each worker produces in the UK has hardly changed. Despite the improvements in technology, transport and knowledge, the dial showing output-per-UK-worker-hour has not budged. Until it does living standards for you and me won’t improve. In fact, it’s more puzzling because relative to other major economies, the UK has lagged behind.