Advertising: Bosses in plea to David Cameron on spending

Advertising bosses have urged David Cameron to set aside more money in the Budget to promote the Government's own lending efforts, in a thinly veiled hint to the Prime Minister to stop cutting back on advertising.

The Advertising Association quoted the Governor of the Bank of England in a letter to Mr Cameron: "Sir Mervyn King pointed this month to appallingly low awareness amongst SMEs and business of a range of government funding and support schemes.

"These policies need publicity and we ask you to reinstate ministerial discretion to invest in advertising to promote them."

Many ad bosses are privately furious Mr Cameron axed the Central Office of Information and slashed ad budgets on issues such as smoking, alcohol and Army recruitment. The AA published research last month showing every £1 spent on advertising contributed £6 to the economy.