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This week as part of the UK’s Investment Summit, the Government has announced it will launch an Industrial Strategy, with the creative industries and professional & business services two of its eight key growth areas.
Following this news, the AA has issued the below statement.
Stephen Woodford, CEO, Advertising Association, said:
“We welcome the launch of the Government’s industrial strategy green paper that aims to boost growth and inward investment into the UK. Advertising and marketing straddles both the creative industries and the professional business services sectors, and it is welcome that they have both been recognised as key sectors central to the success of this ambition.
Advertising is the engine that powers growth across the regions and nations of the UK while funding culture, media and sport and enabling the internet to be free. Around £39bn will be invested by advertisers in 2024, driving competition, innovation and investment that are vital for a vibrant economy. UK advertising is also an export powerhouse, with strong growth in recent years to reach £18bn in 2023, second only to the USA.
The advertising industry will engage proactively with the Government’s consultation and its proposed sector plans to make sure that the right conditions are in place to help our sector, and the UK economy as a whole, to grow from strength-to-strength over the coming years.”
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