Press Release

FLA CHAIRMAN HIGHLIGHTS THE ECONOMIC IMPORTANCE OF THE CREDIT, FINANCE & LEASING INDUSTRIES

In his first speech to the FLA Annual Dinner as FLA Chairman, David Betteley, Senior Vice President of Toyota Financial Services, issued a clarion call to members to remember how important their work was for the UK economy.

He pointed out that in 2007, FLA members had written £92 billion of new business.

Last year, they also contributed £10.5 billion to UK GDP, supported 155,000 jobs and paid £2.5 billion in taxes, enough to pay for 12 new hospitals.

This showed how important it was to keep a sense of perspective, and avoid taking an over-pessimistic view of current market challenges.

Financial education would be a particular theme for the year ahead. It would also be vital for the FLA to continue to work with the government to reduce the burden of regulation, which was not just a cost for member companies but also made it harder for the industry to serve its customers.

The 1,400 strong audience also heard from John Redwood MP and comedienne, Sandi Toksvig.