FLA’s response to the Budget

Commenting on the full expensing announcement in today’s Budget, Stephen Haddrill, Director General of the FLA, said:

“When it comes to pro-business measures, I am delighted to see that the Chancellor has adopted our proposal for the full expensing of business investment.

“We look forward to seeing the details of how leasing will be handled within the regime.”

Note to editors:

1. In 2022, members of the Finance & Leasing Association provided £148 billion of new finance to UK businesses, households and the public sector. 
2. Of this total, £55 billion was provided by non-bank lenders. £34 billion was provided in the form of asset finance to businesses - £22 billion of which went to SMEs to fund new equipment, plant and machinery, or purchased software. £115 billion was provided in the form of consumer credit, which includes £50 billion of motor finance supporting the purchase of 84% of all private new car registrations.
3. For media enquiries, please contact the FLA press office on 020 7420 9656.