MADRID: Spain's leftist government rolled out a draft Bill designed to boost the share of women in politics and business on Tuesday , on the eve of International Women's Day, and further advance gender equality in one of the world's leading countries on the issue.
"We need to take advantage of 100 per cent of the female talent in our country to improve the productivity of companies and to have a stronger and more sustainable growth over time," Economy Minister Nadia Calvino said after the meeting of the cabinet, in which women have outnumbered men for the first time in Spain.
The law will require that women make up at least 40 per cent of the management of any listed company by July 2024. Unlisted firms with more than 250 workers and annual turnover of €50 million must reach the target by 2026. Spain's main business association CEOE declined to comment before learning the details of the proposal.