Rachel Reeves has said she intends to use her position as the first female Chancellor to “improve life for women”, as she set out plans to support women in business.
Ms Reeves said it is a “huge responsibility” to head the Treasury and she is aiming to close the gender pay gap, strengthen rights at work and invest in childcare. She announced government backing for the Invest in Women Taskforce, set to boost economic chances for women by expanding investment funding available specifically for female entrepreneurs.
The taskforce intends to assemble a funding pot exceeding £250m from private investment sources for businesses led by women, potentially becoming one of the biggest funds of its kind globally dedicated to female founders.
Underlining the importance of such initiatives, the Rose Review - an independent examination of women in business conducted by Dame Alison Rose - pointed out that matching the level of female entrepreneurship seen in comparable nations could inject an additional £200bn into the British economy.
Ms Reeves is expected to take an active role in steering the taskforce’s priorities and objectives. She said: “It is a huge responsibility to sit in the Treasury as the first female Chancellor of the Exchequer and be able to use my position to improve life for women across the UK – one that I don’t take lightly. That includes ending the gender pay gap, strengthening rights at work and investing in childcare.
“And by backing the Invest in Women Taskforce we can establish one of the world’s largest dedicated investment funding pools for female-powered businesses, helping grow our economy. This event gathers together some very powerful women, but the truth is everyone can do something for women’s equality – whether that’s supporting the women and girls in their lives with their ambitions or making their workplace a fairer playing field.”
On Wednesday, which is International Equal Pay Day, the Chancellor is hosting a reception in Number 11 Downing Street for female business leaders from various sectors, such as financial services, technology and the creative industry.
