Unions brand bid to exempt firms with up 500 staff from new rules ‘reckless’

Government says change would apply to all new regulations and it would look to raise in threshold in future

Ministers are seeking to exempt firms with up to 500 staff from new regulations, with unions warning that they could soon be spared from reporting on gender pay gaps and executive pay ratios in a cynical and reckless" move.

Liz Truss announced on Sunday that companies with up to 500 staff would now be treated the same way as small businesses with fewer than 50 staff, which are exempt when new regulations are introduced.