Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

Thank you, Senator Walsh, for the supplementary. On average, across all jurisdictions and occupations, Australian women earn $263.90 per week less than men. That is a lot of money to be short each week, and it entrenches women's disadvantage and economic inequality. It's not right that women are missing out just because of our gender. It's not just bad for women; it's bad for our economy as well. The gender pay gap has estimated to cost our economy $51.8 billion a year lost when it comes to women's pay.

The consensus on women's economic equality as a key economic priority was an important—and actually the first—outcome at last year's Jobs and Skills Summit. One of the immediate outcomes of the Jobs and Skills Summit was for the government to require businesses with 100 employees or more to publicly report their gender pay gap data to WGEA, which is implemented through today's legislation. I should say employers benefit too because gender equality makes good business sense. (Time expired)