Gloria De Piero MP, Shadow Minister for Women and Equalities, responding to a survey by Astbury Marsden showing women now hold 12 per cent of managing director roles, said:

“It’s good news that there are more women in managing director jobs. More talented women at the top of our companies is not just good for women, it means better more diverse decision-making and that’s clearly good for businesses and our economy.

"But whilst more women may be rising to the top, as managers they still only earn three quarters the pay of their male colleagues and their bonuses are just half as big. And progress on increasing the number of women on the company boards is slipping backwards.

"The Government should be acting to remove barriers to women rising to the top, but when just four out of the 22 members of David Cameron’s Cabinet are women it’s hardly surprising we see no action.”