Spring Statement – Time to Shine

The government’s two annual fiscal set pieces are great opportunities for accountants to shine in the media and with clients. Last year’s Autumn Budget was Labour’s first in 14 years and generated huge attention. With the fallout from that event still ongoing, anticipation is now building for the Chancellor’s Spring Statement.

Here we take a look at how accountants can use the Spring Statement to maximise their visibility in the media and underline their value as trusted advisors to clients.

Stand out from the crowd

Budgets are one of the few days a year when people look to their accountants, but to make the most of this opportunity takes work and preparation. To cut through all the noise on the day of the Spring Statement will take a co-ordinated effort from people across the firm.

Work will start at lunchtime when Rachel Reeves opens her speech in the House of Commons and will continue until late that night.

However, planning should have started long before. There are now more people than ever sharing comments and their opinions and journalists naturally gravitate to those experts they already have a relationship with.

It is imperative to target the media outlets you want to appear in, whether national or local, broadcast, print or online, and build relationships with key journalists in the run up to the event.

Preparation is key

The run up to Budgets and Statements increasingly sees governments road testing possible fiscal changes and policy ideas while business groups and other vested interests will lobby the Chancellor with their demands.

These give an idea of what might be announced on the day and allow accountants to prepare responses in advance. They can comment on the rumours, providing insights and advice, along with their own predictions on what the Chancellor might announce.

Identifying possible big issues (for example the increase in employers’ National Insurance contributions was well signposted before the last Autumn Budget) mean comments can be prepared in advance and then tweaked if necessary on the day.

Comments should be factual without pulling any punches and should explain the implications of what the Chancellor announces, not simply repeat it.

War room

Many professional services firms create a Budget war room where teams dissect and analyse the big announcements as they happen. Irrespective of size of firm, the key is to allocate clear responsibilities.

Creating comment for journalists, putting out key messages on social media and planning client communications all require dedicated staff. There is a lot of content to create but this is a unique opportunity for accountants to highlight their expertise.

Client comms

Engaging with clients and the wider public through the media has many benefits. However, many practices will want to engage directly with their clients at this key time.

Mercia’s Spring Statement is available digitally via PDF and also comes in a content-only format delivered in a Word document.

Both versions allow you to tailor the content to include an opinion or personalise with contact details to signpost your availability to clients.

The articles can also be used to boost your social media presence and website traffic via posts and blogs raising the profile of your practice.

Interactive webinars in the days after the event allow accountants to engage directly with clients and answer their questions.

Shine this Spring

The Spring Statement is a time for accountants to shine. As always Mercia’s tax experts will be watching and will provide detailed analysis of the government’s fiscal announcements. This allows you to focus on adding value to your clients’ specific needs.

Find out more about our range of digital Spring Statement products.