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Friday, 6 February 2009

Stopping recession becoming a depression

At an MGGB dinner on Wednesday night Lord Mandelson talked about stopping ‘the recession moving to a depression’ and how confidence and tone are critical.

Well, clearly major structural issues are affecting our economy (such as the lack of credit insurance, or support for our knowledge and creative industries and the split between private taxation and public spending – I could go on but won’t rant) and these fundamental issues must be addressed.

However, I do think that from a communications point of view, tone is critical in the current volatile times. 2008 was a record breaking year for London theatre with 14 million people going to visit a play or musical, resulting in £480m of ticket sales. Hollywood blossomed in the Great Depression. So let’s not forget consumers need positive, confident communications that entertain, not to hear a replay the issues and difficulties they are facing. Do we need to really tell them they need to save more for their retirement or that they could spend as long in retirement as they did in work? Rather let’s focus on practical and positive solutions!

Jo Parker
Chief Executive

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