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Deloitte says the EU should be mindful that restrictions can be harmful
The recent flow of advertising restrictions by the European Commission has come under fire by consulting firm Deloitte. A report from the firm, called The Value of Advertising, had been commissioned by the World Federation of Advertisers. The industry is currently asking the European Commission for a temporary halt in activity when it comes to changing advertising restrictions, as the consequences of each alteration need to be taken into account. The study argues that whilst 92 billion Euros were spent in the industry in 2014, it contributed 643 billion Euros to the region’s GDP, nearly 5% of its total GDP. Stephan Loerke, CEO of the World Federation of Advertisers, said that advertising brings benefits that are “pervasive and run through the fabric of society”, adding that "policy-makers should be mindful that ad restrictions have important economic, social and cultural consequences".
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