Following the Budget from the Chancellor of the Exchequer, the Advertising Association has issued the below comment.
Stephen Woodford, CEO, Advertising Association, said:
“This Budget brings changes that will further increase employers’ costs, including for those in advertising, as well as higher taxes for the public, so it is hard to see how these measures are going to encourage more economic growth.
However, there are welcome changes to skills, including fully funded apprenticeships for under-25s in SMEs. It is positive to see skills investment aligned with the modern Industrial Strategy’s growth-driving sectors, which includes the creative industries, and the prioritisation of digital skills programmes such as the £187m ‘Techfirst’ initiative. Allocation of a Creative Places Growth Fund to regional clusters will help unlock innovation in areas where advertising can play a key economic role.
Still, further reform of the Growth and Skills Levy is needed to make it workable for all employers. We will continue to work with the Government to ensure the best solutions are found to sustain our industry’s talent pipeline.”
