FLA election response – Growth is the only option

5 July 2024

Commenting on the General Election, Stephen Haddrill, Director General of the FLA, said:

“When the electorate’s expectations are high, but the government’s coffers are low, growth is the only option.

“This must be a concerted effort – a partnership where Government creates the right environment for growth so that lenders can finance investment, and businesses can do what they do best – generate wealth and employment.

“That environment will not happen by chance. The FLA’s Manifesto sets out the necessary improvements to regulation, access to finance and preparations for a greener future.

“Once the key Ministerial positions are confirmed, we will be re-establishing contact to continue discussions that began before the General Election.”  

 

Notes to Editors 

  1. You can read the FLA Manifesto here
  2. In 2023, members of the Finance & Leasing Association provided £151 billion of new finance to UK businesses, households and the public sector. 
  3. Of this total, £63 billion was provided by non-bank lenders. £38 billion was provided in the form of asset finance to businesses - £23 billion of which went to SMEs to fund new equipment, plant and machinery, or purchased software. £113 billion was provided in the form of consumer credit, which includes £52 billion of motor finance.
  4. For media enquiries, please contact the FLA press office on 020 7420 9656.

 

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