The Government has published it's response to the report by the non-bank lending taskforce, looking at alternative sources of finance for UK businesses. The taskforce, chaired by Tim Breedon, CEO of Legal & General plc, was commissioned by the Government to examine a range of alternative and sustainable finance sources, particularly for small and medium-sized enterprises (SMEs). Input in to the proposals was provided by Geraint Rowe of Gambit Corporate Finance LLP.
The Government welcomed the taskforce’s report and agreed that more can, and should, be done to build alternative markets and unlock new pools of capital. The Government agreed with the analysis set out in the report, welcomed the commitment shown by those named in the report in taking forward the recommendations, and commits to work with businesses and the broader finance community to address these important objectives.