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Martin Sorrell calls for US to focus on deficit reduction

WPP's Sir Martin Sorrell has called on President Obama's administration in the US to take a lead from the UK and focus on cutting the deficit.

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Speaking at the annual World Economic Forum (WEF) in Davos, Switzerland today (26 January), WPP’s leader pointed to the lack of investment in long-term business commitments in the US as a result of uncertainty surrounding business in the short-term.

Despite WPP achieving "remarkable" growth of 8% in the US in 2010, Sorrell warned this was likely to be a brief respite in a generally declining market, calling it "a bit of dead-cat bounce".

Controversially, Sorrell called for further cuts to be made in the world’s biggest business market, "the way the UK has gone", despite mounting fears of a double-dip recession in the UK after the economy shrank by 0.5% in the last quarter of 2010.

This footage is made available to Brand Republic from CNBC, reporting from the World Economic Forum Annual Meeting in Davos, Switzerland. Visit davos.cnbc.com.

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