Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what plans he has to support the development of peer-to-peer lending business platforms.

The government believes that Peer-to-Peer (P2P) platforms can deliver innovative forms of finance for both consumers and business that can provide competition in the marketplace. The government has therefore implemented a proportionate, principles based regime for P2P lending that balances the need for consumer protection with allowing the sector to grow and evolve.

The British Business Bank has channelled £120m of investment to UK businesses through P2P platforms.