Women in business: Matthew Hancock and Shami Chakrabarti

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The British Parliament has rejected an EU bid for all major companies to have at least 40% women non-executive directors by 2020.

Lord Davies of Abersoch wrote a report in 2011 on the issue and the government has since pursued a voluntary, business-led approach to improving gender balance.

The proposal was debated in the Commons on Monday, where Conservative Business Minister Matthew Hancock spoke - before he debated with Liberty directory Shami Chakrabarti in the Daily Politics studio about how to get more women into UK boardrooms.

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