The IPA has provided its reaction to Theresa May's Brexit speech.
Says IPA Director Paul Bainsfair:
“We now know where we stand, at least in the bigger picture. We can no longer bury our heads in the sand: we are Brexiting, and, as the Government has now confirmed, we will no longer stay in the single market. Regardless of one’s personal views, to have this uncertainty cleared up allows us to better plan for the future. It is also good to be reassured that we are not plunging over the cliff-edge –instead that the Government is embarking on rational negotiation with the best interests of both the UK and Europe in mind.
Having said this, despite the Government’s best intentions, no one knows the minutiae of what lies ahead. For the time being at least advertising itself will continue to come under scrutiny mostly from Brussels which despite Brexit will continue to influence us here for some time to come. There is the new General Data Protection Regulation coming in in May next year and proposals for a new E-Privacy Regulation, both of which could force all businesses, not just those in our industry, to change their business models to ensure greater protection for consumer data. Brussels are also planning potential changes to the Audio Visual Media Services Directive, which also threaten greater restrictions on advertising.
As such, the IPA has been working closely with the Advertising Association to help coordinate the ad industry’s asks for Brexit negotiations and advertising’s priorities for Brexit negotiations (see the industry’s submission to the Culture, Media and Sport Committee inquiry). Today’s speech emphasises a focus on free trade and flags pro-business measures the UK can take to attract investment in the UK. We regard this as positive if we are to protect the UK’s status as a global hub for advertising and media services.”