General election will dent business says WPP boss

Advertising guru Sir Martin Sorrell delivered the warning. Picture: Getty

ADVERTISING industry guru Sir Martin Sorrell has warned that the general election will hurt business, whichever of the two main parties wins.

He said a Conservative victory would create the uncertainty of a referendum on staying in Europe in 2016 or 2017 while Labour appeared to be campaigning on a “bashing business” platform.

The WPP boss made the remarks as the global advertising giant yesterday reported a 12 per cent rise in pre-tax profits to £1.45 billion for last year, pointing to like-for-like revenue growth in all regions.

Billings rose 6.8 per cent to £46.2bn on a constant currency basis though exchange rate movements took a 6-7 per cent chunk out of reported results leaving them flat year-on-year. Sorrell said signs of improvement in the eurozone gave grounds for optimism.

But the firm also cautioned about a series of “flapping grey swans” of uncertainty in the world economy, including the UK general election in May.

Sorrell said: “It is a difficult choice either way. If you vote Conservative you are facing a referendum in 2017 or 2016. If you vote Labour, Labour seem to have a platform of criticism, of bashing business and therefore you worry on that count too.”

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