As we all know TIGA have been campaigning for a tax break for the UK gaming industry but have sadly failed after it was revealed last week that Alistair Darling has not made any mention of it in his pre-budget report, TIGA have labelled this as both a “mistake” and a “failure of imagination” CEO Richard Wilson commented
"We have consistently warned the Government that without the introduction of a Games Tax Relief the video games development sector will likely decline by 5% each year over each of the next five years."
"Conversely, if a Games Tax Relief is introduced, then the industry will eventually enjoy annual growth of 4%. In addition, Games Tax Relief will more than pay for itself. Over five years the tax measure would cost £192 million but would deliver £415 million in tax receipts. Games Tax Relief would also secure 3,550 highly skilled graduate level jobs."
He added that it is imperative that the government better aid the industry for it to remain “world beating” and to generally secure its long term position as a digital industries leader.
"We have consistently warned the Government that without the introduction of a Games Tax Relief the video games development sector will likely decline by 5% each year over each of the next five years."
"Conversely, if a Games Tax Relief is introduced, then the industry will eventually enjoy annual growth of 4%. In addition, Games Tax Relief will more than pay for itself. Over five years the tax measure would cost £192 million but would deliver £415 million in tax receipts. Games Tax Relief would also secure 3,550 highly skilled graduate level jobs."
He added that it is imperative that the government better aid the industry for it to remain “world beating” and to generally secure its long term position as a digital industries leader.
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