General election will dent business says WPP boss

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

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

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.

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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.

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

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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