Chancellor of the Exchequer Philip Hammond presented his second Budget this afternoon. Eagerly awaiting the announcement we were keen to see if any bold changes, particularly as Brexit continues to create economic uncertainty, were to be made.
The perfect opportunity for the Chancellor to take steps to restore confidence in the UK economy, provide some certainty to businesses and boost public confidence, key points included 3 billion pounds ($3.9 billion) over two years to prepare for Brexit, and stamp-duty relief for first-time home buyers.
“We are at a turning point in our history,” Hammond told the House of Commons. “And we resolve to look forwards, not backwards. To build on the strengths of the British economy.”
Following today’s Budget from the Chancellor of the Exchequer the Rt Hon Philip Hammond MP, Advertising Association Chief Executive Stephen Woodford made the following statement:
“We welcome the measures in today’s Budget that contribute to overall business growth and growth in the advertising sector. Specifically, we welcome the Government’s commitment to the Industrial Strategy and await further details on sector deals in due course. The Advertising Association has been clear in its wish to see a deal for the creative industries to build British advertising’s profile as a world-class hub.
“We also welcome devolution measures with local funding of the Metro Mayors that could support local growth initiatives across the UK. There is a great opportunity to drive growth by targeting SMEs by supporting the increased R&D tax credit investment through brilliant advertising that builds fame for all this new IP.”
For further details please contact Matthew.Evans@adassoc.org.uk or telephone 020 7340 1100.