I find that fascinating. I have not thought about higher education because I have been focusing on business, but I will add that to the discussion that we will soon be having with Cabinet Office advisers.
Charlotte Sweeney’s report stated that the use of the code should be extended to the executive pipeline. That is music to my ears. We seek to persuade the Government and business to back the initiative. It is where the most difficult challenges lie, but it is vital to ensuring long-term progress. The report that I co-authored made a similar recommendation. I look forward to the forthcoming head-hunter summit, which my hon. Friend the Minister, my hon. Friend the Member for Brentford and Isleworth and I will be chairing, and which will allow us to have a discussion about what is happening to the code, how we can improve it and what we can do to extend it further. I am excited about that initiative, which will take place within the next month.
Locally, we in Suffolk recognise the value of women’s contribution to the economy. I pay tribute to the New Anglia local enterprise partnership, which has launched a campaign to help women fulfil their economic potential. A report by the LEP established that a woman working full-time in Suffolk will, over her career, earn £332,000 less than a man, and will pay £83,000 less in tax. The LEP is right to note that those employment and pay gaps represent lost income for families, lost opportunities for growth and lost prosperity for the county.
I have spoken for considerably longer than is my wont, but I feel that the report that we put together last year and whose recommendations we continue to follow up deserves a good airing in Parliament. We can all
unite around this issue, although I expect that Government Members are not keen to legislate; our ambitions are elsewhere. There are a number of initiatives that we should support. We should be pleased that 37% of start-up loans went to women, and we should be pleased by the recommendations and initiatives undertaken by the Women’s Business Council. We should be pleased that this agenda is firmly on the map for the Government and the Opposition.
It is a waste to our economy if women who want to are not able to work at the top of industries, universities and the public sector. We should put our shoulders to the wheel and keep pushing. There will be a tipping point at which women start to play a full part in business, the economy and politics.
[Mr Jim Sheridan in the Chair]
2.57 pm