Labour MPs warn Healey £113bn lost as women excluded from economy
Female Labour MPs are urging the government to put women’s participation and equal treatment at the centre of economic policy ahead of the Budget. Their report argues that excluding women from paid work on equal terms costs the UK £113bn in economic output each year, making gender inequality a significant barrier to growth.
The estimate has risen from £88.7bn in 2023, and the report says more than a quarter of working-age women are economically inactive. Its proposals include capping childcare costs and providing at least six weeks of paternity leave at 90 per cent of pay. It also highlights barriers in technology investment: female-founded businesses receive just 2p of every £1 of UK venture capital.
In short
- MPs say unequal access to paid work costs the UK £113bn annually.
- Their report calls for childcare and parental leave reforms.
- It argues women’s economic participation should shape national growth policy.