Research from the Fawcett Society with CIPD (Chartered Institute of Personnel and Development), shows that if the gender pay gap was closed it could add £150 billion to the UK economy by 2025.

According to the research, 80% of women say business and employers should bridge the persistent gap in pay. The gender pay gap, which currently stands at 19.2% is expected to cause damage to the UK’s productivity levels if government and employers fail to take action.

Meanwhile, 77 % of women, and 66% of men believe it’s the responsibility of businesses and employers to reduce the gender pay gap with 68% of women, and 56% of men saying that solving the issue was the government's responsibility.

“The gender pay gap is a productivity gap – it represents the wasted potential of women’s talents and skills,” Fawcett Society chief executive Sam Smethers said. “Research shows that reducing it would see over 800,000 more women in work and add £150 billion to our economy by 2025, which shows the majority of women are going to be looking for employers that are taking action to address it.”

The survey also found that 56% of female employees and 48% of male workers believe individuals have a collective responsibility to reduce the gender pay gap and 30% of women said they felt their employer could do more to encourage the career progression of women, compared to 26% of men.