To call Vince Cable an idiot would be to insult idiots:
This is the man who once said that if he were prime minister, he would follow President Francois Hollande’s example and have a gender-balanced cabinet. Well, that’s worked out well for France, hasn’t it?
Our associated organisation Campaign for Merit in Business https://c4mb.wordpress.com has presented concrete evidence to Comrade Cable, the department he leads – Department for Business, Innovation, and Skills – as well as House of Commons and House of Lords inquiries, showing that increasing the proportion of women on corporate boards leads to financial decline.
We’ve put in FoI requests seeking evidence for the government’s previous claims that putting more women on boards will lead to performance improvement. None has ever been forthcoming. This hasn’t stopped the government from continuing to threaten legislated gender quotas for FTSE100 boards if they haven’t achieved female representation on their boards by 2015. In fact, they’re going further. We know from a recent report that next in the firing line will be the FTSE350, and that gender parity on boards is the longer-term goal.
As we’ve said repeatedly, it’s time to sell FTSE100 and FTSE-listed shares.