The CommonsWomen and Equalities Committee said there is "no excuse" for a lack of such statistics.
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Gender pay gap reporting has been mandatory for firms with more than 250 employees since 2017. But nothing exists to monitor the disparity for workers of different ethnicities.
Research estimates that addressing the pay gap could boost the economy by £24billion a year. The report recommends the mandate for ethnicity reporting be in place by April 2023.
The committee also called for the legislation to require businesses to publish an accompanying statement and action plan, allowing staff to account for ethnicity pay gaps and outline steps to tackle them.
Committee chair Caroline Nokes said the Government's "failure to move forwards" was "perplexing".
The Tory MP added: "Tackling inequality benefits not only marginalised groups, but the whole economy.The Government has no excuse.All that is lacking, it seems, is the will and attention of the current administration." The gap was largest in London, at 23.8 per cent in 2019, and smallest inWales at 1.4 per cent.