That is an important point. There never seem to be enough hours in the day, somehow, but I promise to look at the report and talk to my hon. Friend about its conclusions.
Since Lord Davies reported in February 2011, there have been unprecedented changes in the composition of boardrooms. Women now make up 20.4% of the directors of FTSE100 companies, which is up from 12.5%, and there are now just two all-male FTSE100 boards; that figure is down from 21. Again, that is great news for the economy, but it is vital that we maintain the momentum. We need just 51 more women on FTSE100 boards by 2015 to achieve the 25% target set by Lord Davies.
The pay gap is an important issue. I do not think that it has been raised directly in today’s debate, but it is never too far from my mind. It is a matter of concern that women are still disadvantaged in pay. We are addressing that in two main ways. First, for the vast majority of businesses who want to do the right thing by their female employees, we are encouraging good
practice through the voluntary “Think, Act, Report” initiative. More than 170 organisations representing more than 2 million employees are showing that they are committed to equality in their business. As the Minister responsible for tourism I was pleased to announce this morning at a Women 1st women in tourism event that Merlin Entertainments, Brakes Group, easyJet, Advantage Travel and CH&Co catering have now signed up to that important initiative.
However, we shall also take tough action against employers who do not do the right thing, and from October when a tribunal finds that an employer has broken equal pay laws it will order a full pay audit, to prevent continuing sex discrimination in pay matters.