Finance & Leasing Association (FLA) members supported 331,300 UK jobs through the provision of asset finance, motor finance and consumer finance in 2014, according to a research carried out by Oxford Economics for the FLA.

The research, which measured FLA members’ contribution to the UK economy in 2014, found that they contributed £11bn (€15.3bn) to the UK economic output.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Last year, the £74bn of consumer finance provided by FLA members funded 7% of UK consumer spending. The research found that 57% of all consumer spending on cars was supported by FLA members’ finance, a marked increase from 35% in 2007.

In addition, FLA members provided a total of £26 billion in finance to businesses in the UK in 2014. The investment that this supported equated to 28% of all UK business investment in ICT equipment, software, other machinery and transport equipment.

According to the research, the UK manufacturers’ investment supported by this finance generated an extra £4.2bn in GDP and 62,400 jobs.

The data revealed that productivity among all FLA members was more than five times the UK national average, placing them in the top 5% of all UK industries. Figures specifically for members providing asset finance (leasing and hire purchase) were seven times higher than the national average.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: "The research shows the importance of FLA members to the UK economy and the scale of the recovery since the 2008 recession. Consumer purchases financed by FLA members sustained more than 192,000 jobs last year. A further 62,400 jobs were generated through the business investment financed by FLA members."