Today the Chancellor unveiled new measures to further help businesses and workers who are suffering the economic impact of Covid-19. These included a job retention scheme, which will cover 80% of employees wages up to £2,500 p/m, VAT to be deferred until June and statutory sick pay for SMEs and the self-employed. Following this update, the Advertising Association has issued a statement.
Stephen Woodford, Chief Executive, Advertising Association, said:
“This is an extensive set of measures taken to reassure businesses across all industries that the Government is fully prepared to back employers and their employees through this crisis. Government is listening and we have had numerous conversations with Government this week to provide information to help shape the decisions that have been made. The relief offered to SMEs, in particular, will be received positively by many in UK advertising. Our industry is made up of a great number of small, specialist companies and we have them to thank for the hugely creative and entrepreneurial work they do on behalf of UK and international advertisers.
A summary of help is available on our site and we know that our members, many of them trade associations themselves, are working tirelessly to ensure everybody has access to the right information as quickly as possible. We also want to hear from all parts of our industry about the economic impact so we can continue to provide information to Government to inform further decisions and we welcome people to get in touch with us at the association.
It has been a seismic few days and there are certainly more changes and challenges to come. It is particularly urgent to see action next to support the extensive freelance community in our industry and across the economy. Looking at the positives, we have already seen our industry responding and reacting with creative work to back our NHS, our Government, our retailers and other key workers who are working right at the heart of this crisis. I am certain we will see more over the coming weeks of a brilliant collective effort from all in UK advertising to do their utmost to support the people who most need our help in this crisis, in whatever ways we can responsibly do so.”