News in Brief: International Woman's Day, BHS pension gap, fuel duty cut, FTSE 100 diversity deficit

News in Brief

International Woman’s Day; bridging ‘gender confidence gap’

Although the gender pay gap is still a burning issue, a ‘gender confidence gap’ may be a more important, contributory factor, according to research.

The AAT, which focuses on the UK finance sector, found that men working in the UK’s biggest sector believe they should be paid £11,900 more than the amount they are currently earning.

In comparison, women believe their salary should be increased by just £6,850, almost half of what their male colleagues requested. Furthermore, 48% of women know or suspect that their male colleagues are earning more than them when doing the same role.

BHS pension gap 'wider than thought'

Department store chain BHS's pension scheme liabilities may be bigger than previously thought, court documents have revealed.

The precarious situation has come as the company tries to slash its rent bill with landlords to survive, reported the BBC.

BHS is trying to secure what is known as a Company Voluntary Arrangement, a form of compromise with its creditors.

Its pension scheme deficit stands at £207m, but it is understood the current working deficit is much higher.

‘Fuel duty cut would protect UK economy’

In a pre-budget submission to the Chancellor, the Freight Transport Association (FTA) has told George Osborne that a reduction in fuel duty would make an important contribution towards protecting the UK economy.

Writing to Osborne ahead of the budget on 16 March, the FTA outlined the results of independent research which showed that a cut in duties would deliver significant economic benefits, and suggests that freezing fuel duty would boost household spending power by over £5bn.

Karen Deem, FTA director of policy, said: “FTA has welcomed the government’s decision not to go ahead with any increases on fuel duty in the last parliament, which has provided much-needed economic relief not only to the logistics sector, which faces continuing difficult trading conditions, but also to the wider motoring public who rely on their cars to get to and from work.”

Deem added: “As the UK economy continues on its path to recovery, this move provides just the kind of stability needed to give businesses the confidence to invest in their futures, to the benefit of the wider economy, customers and their employees.”

Only 4% of CEOs in FTSE 100 companies are black or Asian

Non-white communities are grossly underrepresented in both the FTSE 100 and S&P 100, according to analysis.

Companies listed on the London stock exchange face a ‘diversity deficit’ at the very top of organisations.

Just four of CEOs in FTSE 100 companies and 7% of AIM CEOs are not white, despite the BAME (black, Asian and minority ethnic) community of the UK making up 14% of the UK population.

Although BAME is not used as a classification in America, the non-white population, including Hispanic and Middle Eastern, stands at 28% while only 11% of CEOs at S&P 100 companies are not white.

The research from executive recruitment company Audeliss showed there is just one BAME CEO of a FTSE 100 company for every 2.3 million BAME people in the UK, compared to one white CEO for every 600,000 white people.