No Tax Break for UK Gaming Industry
- June 22nd, 2010
- Posted in News
- By nineinchnailed
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In today’s emergency budget the British Government has confirmed that it will not be introducting a tax break for the UK gaming industry, something which will come as a disappointment to many.
The Coalition Government, formed of Conservative and Liberal Democrat MPs, has back-tracked on pre-election suggestions from both parties to introduce a new Games Tax Relief. Clearly, British developers are going to feel let down by this latest move to deny tax breaks to the industry. Jason Kingsley, CEO of Rebellion Studios and chairman of TIGA, said:
“It is hugely disappointing that the Coalition Government has decided not to introduce this tax measure, especially given the existence of tax relief for other sectors of the economy. However, TIGA will continue to lead the campaign for Games Tax Relief in the months ahead. Games Tax Relief or a similar fiscal measure is the industry’s top priority.”
The UK gaming industry is responsible for some of the most successful gaming franchises in the world, including Grand Theft Auto and Tomb Raider, and with the right financial incentives Britain has a chance to continue to lead the way in computer game development across the world. Conservative MP Ed Vaizey, who holds the brief for Culture, Communications and Creative Industries within the Government, will be at July’s Developer Conference in Brighton to discuss the Games Tax Relief proposals – as a long-standing supporter of British gaming he will hopefully have some positive comments to make.