IPA reacts to Budget announcement

Says Paul Bainsfair, Director General, IPA:

"Understandably a key focus of this latest Budget is to financially manage the difficult to quantify impact of the Coronavirus on all areas of business and society.

"Given we’re seeing the biggest threat to global finances for over a decade, it seems inevitable that UK marketing budgets will take a hit. We’ll begin to see the impact of this in next month’s Bellwether Report. Unfortunately, just as we were starting to see a recovery to budgets following the prolonged bout of uncertainty brought on by Brexit, we are propelled into far more extreme global uncertainty.

"From brand awareness to brand building, we know that advertising has enormous power to transform businesses, and can be especially powerful during a downturn. Anything that Government can therefore do to help secure businesses, so that we can help grow them and our own agencies, will be much needed."