In response to the Chancellor's Autumn Statement, David Postings, chief executive of UK Finance, has expressed approval of the Government's "commitment to growth", emphasising its significance for businesses and individuals across the nation.
Postings praised the move to make the full-expensing scheme a permanent feature. This decision is expected to provide a boost to businesses, encouraging investment and economic expansion.
The organisation also commended the Chancellor's comprehensive announcements regarding housing, noting the positive impact on alleviating the financial burden of homeownership.
Postings said:
"It is vital that people have the housing they need, and we're pleased to see the commitment to increase Local Housing Allowance, something UK Finance has long called for.
"Greater housebuilding and an extension of the mortgage guarantee scheme will also help more homebuyers get on or move up the housing ladder."
UK Finance also welcomed plans to simplify ISA rules and make them more flexible, with Postings saying he looked forward to working with the Government to help more people save.
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