Responding to the emergency Budget, Julian Rose, Head of Asset Finance at the Finance & Leasing Association said:
“We called for the Government to maintain sensible investment incentives for businesses and to remove the existing bias against leasing in the tax system. On balance, today’s Budget slightly exceeded our expectations by making only a modest cut in capital allowances and reducing Annual Investment Allowances that weren’t available for leasing. With a Green Paper on business finance to be published before the summer recess, there is the opportunity now for the leasing industry to show how asset finance can support economic recovery.”