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1082271
star this property registered interest false more like this
star this property date less than 2019-03-05more like thismore than 2019-03-05
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Crowdfunding more like this
star this property house id 1 more like this
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25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what assessment he has made of the competitiveness of the UK peer-to-peer lending sector compared to (a) the US, (b) China and (c) the rest of the world. more like this
star this property tabling member constituency Windsor more like this
star this property tabling member printed
Adam Afriyie more like this
star this property uin 228623 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-03-13more like thismore than 2019-03-13
star this property answer text <p>The Government has introduced a robust and proportionate regulatory regime for peer-to-peer (P2P) lending, balancing the need for consumer protection with allowing the sector to grow, innovate and provide competition in the lending market.</p><p> </p><p>The British Business Bank’s Small Business Finance Markets 2018/19 report sets out that P2P business lending increased to nearly £2.3bn in 2018, and assesses the P2P business lending markets in the UK, the USA and China. The report notes that the increased regulation in the P2P market in the UK has been mostly seen as positive, in contrast to China where regulators were slow to address the sector, leading to opportunities for fraudulent activity.</p><p> </p><p>The UK has been independently ranked by EY and Deloitte as the world’s leading hub for Fintech – the best place in the world to start and grow a Fintech firm. The Government is committed to ensuring that it remains the best place in the world for Fintech, and has set out how it intends to do that in the ambitious Fintech Sector Strategy, launched in March 2018.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
remove filter
unstar this property answering member
4051
star this property label Biography information for John Glen more like this
unstar this property tabling member
1586
unstar this property label Biography information for Adam Afriyie more like this