Rt Hon John Glen MP’s explicit support of Progress Together in Parliament today highlights the importance of socio-economic diversity in Financial Services. This isn’t just a conversation; it’s an urgent call to action.
As Bridget Phillipson, Minister for Women and Equalities states: “It’s a cause that we can all get behind.”
Watch the video from Parliament below, where Rt Hon John Glen MP mentions ProgressTogether and our Chair, Vincent Keaveny CBE.
We’re calling for:
- Government to enact the socioeconomic duty under the Equality Act, ensuring it applies to Financial Services regulators. Labour’s manifesto states, “Labour will ensure everyone can thrive, enacting the socioeconomic duty in the Equality Act 2010.”
- The financial services regulators to mandate data collection and reporting on socioeconomic diversity for firms with over 250 employees, similar to gender and ethnicity reporting. Labour’s Financing Growth Review supports this mandate.
- A third of the financial services workforce already reports socio-economic data anonymously via Progress Together. It’s time to go further—regulators must act to ensure fairness and unlock the sector’s full potential. Cognitive diversity drives better decision-making and consumer outcomes.
🔗 Read our letter to the regulators
🔗 Read the Industrial Strategy Green Paper our response The 2024 Industrial Strategy Green Paper
