Following government spending cuts, marketing and advertising can start driving economic recovery, the Advertising Association has said.Techniques for motivating sales such as marketing and advertising can help drive economic growth following the deep budget cuts announced by the government, it has been claimed.
Earlier this week (October 20th), chancellor George Osborne announced the outcome of the government's comprehensive spending review.
As expected, he revealed a wide range of cuts in an effort to rein in the UK's budget deficit.
This included cutting departmental budgets by 19 per cent on average and a £7 billion cut to the welfare budget.
Commenting on the review, Advertising Association chief executive Tim Lefroy said that advertising and marketing can help lead the UK economy back to prosperity now that measures to reduce the deficit have been implemented.
"Chapter one is fixing the public finance problem. Chapter two is growth and that's where marketing and advertising comes in," he said.
"We drive competition and innovation, in all markets. Government has set out its stall on the 'big society' - which is about giving people more choice and control in their lives. Advertising is choice and policy makers can benefit from the knowledge and expertise vested in this sector."
Research firm ZenithOptimedia recently predicted that global advertising spend will see growth of 4.8 per cent in 2010.
Written by Julian Poulter
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