Capital Economy, Business and Finance
UK political parties have already spent over £1 million on online advertisements since the election was called, with Labour significantly outspending the Conservatives £684,000 to £280,000. It’s more than four times spending in the same period for the 2019 election. With party spending limits increased by 80 per cent since 2019 to over £30 million, 2024 promises to be the most expensive UK election ever – and both parties have largely dropped Cambridge Analytica-style “microtargeting” in favour of splurging on adverts that go out to a wider audience. But in a sign of Rishi Sunak’s defensive approach, Conservative adverts have largely targeted over 65s and middle-aged men who could switch their support to Reform UK.