The Chair of the Media Group, Andy Carter MP, has written to the Chancellor calling for him to support the Advertising Tax Credit Initiative, supporting the Radiocentre’s proposals to tackle funding shortfall in light of Covid.

As the Government considers ways to support economic recovery post the Covid-19 pandemic, the Radiocentre propose an Advertising Tax Credit to help British companies recoup some of the cost of their renewed marketing spend and boost investment in advertising-funded UK media.

Many media companies have been at the forefront of supporting public efforts to combat Covid19. Journalists are deemed key workers, and vital operations have continued at national and local level, despite company revenues from advertising plummeting. Now many are at risk of cuts and closures.

An Advertising Tax Credit will not only support these companies - channelling investment into great UK media content - it will also help British businesses get back on their feet, and stimulate consumer demand and wellbeing.

You can read the full brief here.