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.
Announcing the Government’s support for the Invest in Women Taskforce, which aims to increase investment funding pools for female founders, the Chancellor vowed to improve the economic opportunities available to women.
The taskforce is aiming to create a funding pool of more than £250 million for female-founded businesses through private capital, making it one of the world’s largest investment funding pools aimed solely at female founders.
The Rose Review, an independent review of female entrepreneurship led by Dame Alison Rose, found that if the UK were to have the same share of female entrepreneurs as similar countries, £200 billion of value would be added to the 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.
