Ad Sector's '£100bn Contribution' to UK Economy

UK MP Maria Miller says that advertising should be regarded as the 'oil in the machinery' of a recovering market, following the release of an Advertising Association/Deloitte report that has highlighted the sector's £100bn contribution to the UK economy.

According to the 'Advertising Pays' report, for every £1 spent on advertising a further £6 is generated for the UK economy, with around 550,000 jobs supported by the c.£16bn generated from annual advertising revenue.

The report has prompted the ad industry to lobby the Government to focus on consumer spending and advertising as a way to drive the recovery of the UK economy.

Speaking at the Advertising Association's (AA) annual LEAD Summit at lunchtime today, the Secretary of State for Culture, Media and Sport Maria Miller (pictured) stated: 'Take it from me, Government is looking for ways to help industry grow. Advertising is a driver of investment, tourism and growth. It is vital we help the sector maximise its impact on the economy - while losing none of the creativity that makes British advertising so successful today. The creative industries are at the heart of putting this country back on its feet.'

The report can be accessed on the AA's web site: www.adassoc.org.uk .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.