The Finance and Leasing Association (FLA) has said that the
measures announced in the Budget 2009 need to be followed by
specific support from the government for the leasing and motor
finance sectors.
FLA’s director general Stephen Sklaroff said that any increase
in capital allowances was a positive sign, although the government
was not making leasing easier for businesses.
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Sklaroff said: “Many smaller firms need to lease equipment to
run their businesses and today’s tax breaks are not available for
leased equipment.”
Moreover, according to the association, the car scrappage
scheme, which is hoped to increase demand for cars, will reinforce
the need for some government action to help motor finance companies
access funds at affordable rates.
Sklaroff said: “The success of the car scrappage scheme relies
on motorists being able to replace their old cars.”
“For that to work, the finance needs to be available. We need
government support now, to ensure motor finance companies can meet
that demand.”
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