Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 5 September 2017 to Question 6053, on crowdfunding, what estimate he has made of the volume of peer-to-peer lending which would provide competition to the marketplace.

The Government believes that the peer-to-peer (P2P) lending sector already provides competition to the lending marketplace, and welcomes the strong growth of the industry.

The Government has supported the sector through implementing a proportionate, principles based regime for P2P lending that balances the need for consumer protection with allowing the sector to grow and evolve.