News
FLA responds to emergency Budget
Responding to the emergency Budget, Julian Rose, Head of Asset Finance at the Finance & Leasing Association said:
“We called for the Government to maintain sensible investment incentives for businesses and to remove the existing bias against leasing in the tax system. On balance, today’s Budget slightly exceeded our expectations by making only a modest cut in capital allowances and reducing Annual Investment Allowances that weren’t available for leasing. With a Green Paper on business finance to be published before the summer recess, there is the opportunity now for the leasing industry to show how asset finance can support economic recovery.”
- ends -
Note to editors:
In 2009 FLA members provided £72.5 billion of new finance to UK businesses and households. Almost £19.3 billion of finance was provided to businesses and the public sector, representing around a quarter of all fixed capital investment in the UK last year. £53.2 billion was in the form of consumer credit, including a third of all unsecured lending in the UK. And £16.5 billion supported the purchase of half of new car registrations in the UK.
For further media information, please contact:
Russell Hamblin-Boone, FLA
T: 020 7420 9656 E: russell.hamblin-boone@fla.org.uk M: 07810 374110
Helen Saxon, FLA
T: 020 7420 9664 E: helen.saxon@fla.org.uk M: 07918 766 993