Chief executive of the UK Finance &
Leasing Association (FLA) Stephen Sklaroff has welcomed the
“positive language about asset finance” used in a government green
paper published yesterday (26 July).
Financing a Private Sector Recovery kick starts a consultation
about how best to fund a private sector-led recovery in the UK.
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Sklaroff said: “It is a long time since we
have heard this sort of positive language about asset finance in an
official government document, and this has to be a good thing. We
have been discussing issues with officials and communicating with
ministers, and it is very positive to see it reflected in this
green paper.”
The FLA will be pushing for changes to
accounting and tax regulations which it believes constrain asset
finance activity in the UK.
“There is a big difference between
consultation and action,” Sklaroff said.
The green paper anticipates asset finance will
be “important during the recovery”, while invoice discounting
“could play a crucial role in securing access to working capital
finance during the recovery for many businesses.”
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By GlobalDataThe green paper was issued jointly by Vince
Cable, secretary of state for business, innovation and skills and
George Osborne, chancellor of the exchequer.
