In December 2011, Business Secretary Vince Cable announced details of an industry-led taskforce on non-bank finance to be led by Legal & General CEO, Tim Breedon.
The Taskforce was established as part of the credit easing package in the Autumn Statement. It will report to the Government ahead of the 2012 Budget. The Taskforce worked with businesses, lenders, investors and providers of alternative finance to examine structural and behavioural barriers to raising non-bank finance.
The government has welcomed the Taskforce's Report, agrees with its analysis, agrees that more can and should be done to unlock new pools of capital and has committed to work with business and the broader finance community to address the important objectives identified by the Taskforce Report.