IPA Director General Paul Bainsfair says that the country needs a Prime Minister and Government that can provide 'stability, a long-term strategic vision and calm stewardship' and 'fully acknowledges the value of advertising to the economy' in response to the news that Boris Johnson is resigning as Prime Minister.
Says Paul Bainsfair, Director General, IPA:
Our country needs a Prime Minister and Government that can provide stability, a long-term strategic vision and calm stewardship to lead us through the volatility of the months ahead and return UK plc to growth.
"Having welcomed ten culture secretaries over the past ten years, our industry urgently requires stability too in order to be able to fully engage with the evidence on the topics that matter to business and society. There are a number of chunky issues already in their inbox including the planned privatisation of Channel 4, impending HFSS legislation, the Gambling Review White Paper as well as the Online Harms Bill.
"We need a Government that fully acknowledges the value of advertising to the economy and, rather pressingly, that heeds our evidence that diverting marketing budgets to hold down prices artificially at a time of inflationary supply-side costs and weakening consumer demand – as reported that the impending Government-funded campaign will encourage UK companies to do – would at best result in short-term switching between promoted products at the cost of damaging the long-term growth of brands, businesses, and the economy as whole."