The UK Treasury has confirmed that it\'s abandoned planned reform of the art lending market will hold back London’s position at the heart of the global art market, according to 2017 eprivateclient Top Law Firm Boodle Hatfield. 

The Government, through the Law Commission, launched its consultation on the proposed Goods Mortgage Bill in 2014, which would allow individuals to raise money of the back of art works and high value assets.

Boodle Hatfield shaped responses to that consultation with a view to creating an art lending market in London to rival that of New York and the US. 

Tim Maxw...