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TIGA Looks Forward to Game Tax Relief Under New Government

Unless you’ve been living under a rock for the past few weeks, then you’ll know its all change here in the UK with a new Liberal Conservative government now in place. The videogame industry has been seeking tax breaks for some time here in the UK and TIGA succesfully lobbied the Labour government who agreed to introduce Game Tax Relief in March’s Budget.With Labour now gone, Game Tax Relief has been placed in the hands of the new Chancellor George Osbourne and Jeremy Hunt, the Secretary of State for Culture, Olympics, Media and Sport. TIGA are confident that Labour’s commitment to supporting the industry will also be supported by the new government.Conservative MP Ed Vaizey, who was the Shadow Minister for Arts and Culture, had stated the Conservatives would support Game Tax Relief when we interviewed him last year, and TIGA say they are confident they will get the Liberal – Conservative’s support in putting it in place as soon as possible.This evening TIGA’s Richard Wilson said:“TIGA is looking forward to working with the new Government to advance the video games industry’s potential, and in particular to implement Games Tax Relief – the top priority for the UK games industry. Games Tax Relief is needed to ensure that the UK games industry competes on a level playing with its overseas rivals. Additionally, Games Tax Relief will create jobs and boost investment in a research intensive, export oriented industry. This is precisely the kind of tax measure that is needed to help rebalance the UK economy from an over-dependence on financial services.“TIGA will contact key ministers in the new administration and will aim to work closely with them to ensure the implementation of Games Tax Relief as soon as possible. If Games Tax Relief is introduced then the UK video games industry will create jobs, spur investment and contribute to an export led recovery”An emergency Budget will be called by George Osbourne in the coming weeks and we’ll be following the Game Tax Relief issue closely here on IncGamers.

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