Following the statement in Parliament this lunchtime by the Chancellor of the Exchequer where he confirmed the extension of the Job Retention Scheme until the end of October, Advertising Association Chief Executive Stephen Woodford has issued the following statement:
“The news that the Chancellor has today confirmed the extension of the Job Retention Scheme until the end of October with the option for people to return to work from furlough on a part-time basis is a hugely positive step. We are pleased Government has listened to our request for continued support to employees beyond the end of June. It will help the thousands of companies in the UK’s advertising and marketing services sectors as they cope with the great economic uncertainty caused by the Covid-19 crisis, both here at home and around the world.
“We are now asking the Government to continue to be bold in further ways to support business as the lockdown eases and the economy starts to rebuild. One option we are considering with members is a tax credit scheme for advertising and marketing services to help accelerate consumer spending and boost economic growth. Advertising is a proven engine of the economy with a return to GDP of £6 for every advertising pound spent. A stimulus to encourage businesses to spend more promoting their products and services to customers through advertising will have a positive impact on job creation and help ensure a swifter economic recovery.
“We also need to be certain that our workplaces are safe for all to return to. It is brilliant to see trade bodies like the Advertising Producers Association already publishing COVID-19 guidelines on how to manage a shoot to minimise risks – we expect more sector-specific guidance from different trade bodies across the industry as the days and weeks progress. We will continue to work closely with stakeholders and officials to make sure information on safer working for everyone in UK advertising is as clear and comprehensive as possible.”