MCV/DEVELOP News, events, research and jobs from the games industry
The government’s new TV tax relief has delivered more than £233m for the UK economy in its first nine months.
The figure comes from the British Film Institute and gaming trade body UKIE is pointing to this revelation as an example of the benefits that tax breaks would bring to the games industry.
Tax relief for developers was originally supposed to be introduced in April last year, but have been delayed while the European Commission investigates whether we actually need them.
"Seeing the hard financial evidence that the production tax credits have worked for high-end TV, and in such a short space of time, proves that the digital creative industries can drive exports, deliver growth and high value jobs as well as attract considerable inward investment," said Andy Payne, UKIE chairman and board member of Film London.
"This will play a significant part in increasing the UK’s productivity which is so badly needed. The games industry looks forward to the games production tax credits coming into force very soon and having a very positive effect for the UK games industry and the creative industries for UKPLC."
UKIE CEO Jo Twist added: "These figures show the massive benefits that tax credits could bring to the UK games industry, opening the door for big inward investment and helping small businesses to scale up. They would help the creative talent in this country to produce more and compete in a global marketplace with uniquely British or European flavoured games.
"We know that the UK government continues to be behind the games tax relief and remain positive that they will be introduced. We urge UK government and the European Commission to make sure that the new system is introduced as soon as possible so that UK games business can benefit in the same way that TV sector is.”
