The UK General Election took place last week and surprised the polls with its result. David Cameron’s party secured a 331-seat majority on Election Day last Thursday. Could the result have an impact on the marketing industry in the UK? The Conservative Party has made many promises related to the industry and Marketing Week examined what this could mean for marketers.
Throughout their election campaign, the Conservative Party said it was the best choice for marketers, promising to “deliver an environment in which businesses – particularly those that rely on healthy consumer spending – can thrive.” The party also wishes to help the marketing industry continue to grow following last year’s success when UK advertising grew at its highest rate since 2010, increasing 5.8% to £18.6bn.
“We’ve got rid of the mass of red tape and regulation which the last Labour Government tangled you up in and we’ve tried to encourage self-regulation as far as possible,” a Conservative spokesman told Marketing Week a couple of months before the election, “Where we do legislate, it’s based on evidence rather than ideology. Because the marketing sector is one of Britain’s great creative and economic success stories – and as long as the Conservative Party is in government – we’ll do everything we can to make sure it stays that way”.
With the party’s official figures showing that the marketing industry is worth at least £10 billion a year and provides tens of thousands of people with jobs, there’s no doubt it is a key industry that must be allowed to continue to thrive.