To ask the Chancellor of the Exchequer
(1) what assessment he has made of the effect of (a) peer-to-peer lending and (b) crowdfunding platforms on the availability of finance for small to medium-sized enterprises;
(2) what estimate he has made of the amount of investment in small and medium-sized enterprises which has come from (a) peer-to-peer lending and (b) crowdfunding platforms in each of the last three years.
Crowdfunding and peer to peer lending are innovative new forms of finance that support competition in the business lending sector. The Government has taken a number of steps to support their growth.
The Government has not made any assessment of the amount of investment in SMEs from peer to peer lending and crowdfunding platforms.