Following the announcement yesterday evening of the Government’s latest economic contingency measures to mitigate the effects of COVID-19 disruption, Stephen Woodford, Chief Executive, Advertising Association, said:
“We welcome the business support measures announced today that should help keep people employed and businesses functioning during this unprecedented period of economic and social disruption. We also recognise the Government’s ‘whatever it takes’ commitments to keep these measures under review and that more may still be needed to help the UK economy keep functioning. We are particularly conscious of the high proportion of SMEs in our industry and the intense pressure they are under to maintain service and retain staff. Measures such as the Government-backed loans announced today are needed to help these firms manage their cashflow to survive and play their part in the recovery. They are vital to UK advertising’s capabilities which is a proven engine of the economy.”