As of today, all UK companies with over 250 employees are legally required to publish their gender pay gap figures every year.
Private, public and voluntary sector companies have to provide a 'snapshot' of their mean and median pay gap figures, the number of men and women in each quarter of their pay scale, and pay differences for bonuses by today. They'll then have to provide a full report, and ideally an action plan where there's significant gender disparity, by this time next year and every year after.
The move is designed to improve equality in the workplace, though it will likely also open a dialogue about income inequality in general – especially in terms of salaries at the top and bottom of the scales, and the bonuses being handed out.
Anyone who's ever mentioned the gender pay gap on Twitter will know that it's immediately countered with angry "DOSE NOT EX1ST" responses from accounts with names like @harambescuck4u and @PepeThePUA, and this legislation will allow us to refute that with transparent figures from household-name companies.
— GOV UK (@GOVUK) April 6, 2017
It'll also force those companies to address their pay gaps, both with their employees and the wider public.
The current gender pay gap is 18.1% overall, and 9.4% for full-timers. [BBC]