The Chancellor of the Coalition Government, George Osborne, has announced that there will no-longer be a tax break for video game studios in the UK.
Back in March of this year the former Labour Chancellor, Alistair Darling announced that the UK games industry would see a tax break similar to the British film industry. But Osborne has today scrapped the idea saying that the previous proposal was “poorly targeted.”
Back in March of this year the former Labour Chancellor, Alistair Darling announced that the UK games industry would see a tax break similar to the British film industry. But Osborne has today scrapped the idea saying that the previous proposal was “poorly targeted.”
Many UK developers knew that the tax break was in the firing line to get withdrawn by the new Coalition Government, and George Osborne was vocal about his tough cuts in the lead-up to the Budget.
Development industry trade body TIGA has spoken of its fear of the 'brain drain' facing the UK industry if it didn’t get tax relief. According to TIGA figures, the UK's games development workforce has fallen by a shocking 44 studios since 2008.
Major British developments studios Lionhead, Rockstar and Codemasters are all effected by today’s news.
Development industry trade body TIGA has spoken of its fear of the 'brain drain' facing the UK industry if it didn’t get tax relief. According to TIGA figures, the UK's games development workforce has fallen by a shocking 44 studios since 2008.
Major British developments studios Lionhead, Rockstar and Codemasters are all effected by today’s news.
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