Leased assets to be included in full expensing

Commenting on the Chancellor’s announcement in the Budget that leased assets will be included in full expensing once affordable, Stephen Haddrill, Director General of the Finance & Leasing Association, said: 

“This is a great outcome from a long-term campaign by the FLA.  It’s excellent that the Government recognises that leasing is the funding route of choice for many businesses and makes a vital contribution to investment. We welcome this transformative move. Its affordability will be covered through increased investment and higher productivity, and its introduction should be as fast as possible. 

“We are also delighted that a replacement for the Recovery Loan Scheme has been confirmed in the Growth Guarantee Scheme. We look forward to working with the British Business Bank to get that vital funding out to small businesses.”

Notes to Editors 

1. In 2023, members of the Finance & Leasing Association provided £151 billion of new finance to UK businesses, households and the public sector. 
2. 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.
3. For media enquiries, please contact the FLA press office on 020 7420 9656.