FLA response to the Chancellor's Spring Statement

Commenting on the Chancellor's Spring Statement, Simon Goldie, Director of Business Finance at the Finance & Leasing Association, said:

“The Chancellor’s Spring Statement recognises the importance of business investment. Considering that leasing is one of the main options that businesses use to invest, we urge the Chancellor to include it in the new capital allowances regime he is creating, and to work with us on a net zero deduction to replace the ‘super-deduction’ next year.”

Note to editors:

1. The Finance & Leasing Association is the leading trade body for the asset, consumer and motor finance sectors in the UK. Our members include banks, subsidiaries of banks and building societies, the finance arms of leading retailers and manufacturing companies, and a range of independent firms.
2. In 2021, FLA members provided £132 billion of new finance to UK businesses and households. £101 billion of this was in the form of consumer credit representing over a third of total new consumer credit written in the UK in 2021. £31 billion of finance was provided to businesses and the public sector. FLA members financed more than a third of UK investment in machinery, equipment and purchased software in the UK in 2021.
3. For media enquiries, please contact the FLA press office on 020 7420 9656.