Tax breaks finally arrive for the UK videogame industry
After years of lobbying the government in the UK, the Chancellor George Osbourne finally announced tax breaks for the UK games industry in today’s budget report.
TIGA has been lobbying for more support for the videogame industry for years so today’s news comes as some relief now that there has finally been a breakthrough. TIGA’s CEO Dr Richard Wilson added:
“This is a brilliant decision by the Government and terrific news for the UK video games industry. It is also a decisive victory won by TIGA through audacity, determination and endurance. Like a boxer knocked down by his opponent, we refused to accept defeat and kept getting back in the ring. This victory will benefit not just the UK games development and digital publishing sector but also the wider UK economy.
“For Games Tax Relief to be announced in the Budget is the culmination of a four year campaign waged by TIGA. Government Ministers are to be warmly congratulated for this brilliant decision. The All Party Computer and Video Games Industry Group in the Westminster Parliament, the Labour Party and the Scottish National Party also deserve full recognition for supporting this critical measure. TIGA now looks forward to working with the Coalition Government, the Labour Party and the SNP and other interested parties on the implementation of Games Tax Relief.”
Developer have come out in force today commending the decision which could help secure more than 4,661 jobs and increase the development’s sector’s contribution to UK GDP by £283 million according to TIGA.
Paul Durrant, Director of Business Development at Abertay University, one of the leading Universities focused on videogame development commented
“Today’s announcement of games tax relief from the Chancellor is a breakthrough for the UK’s computer games and creative industries”
“By explicitly stating that our computer games industry has the same status as the animation, film and TV sectors, the UK Government has shown it is serious about making Britain an international leader in games production once again.
With development of videogames being moved away from Studios to countries such as Canada and Ireland where there is tax relief for the industry, the announcement today should help UK based developers and encourage more publishers to set up shop here in the UK. Good news all round and TIGA has to be commended in persevering on the issue.