UKIE calls for more Government investment in the games industry

UKIE has outlined a four-point proposal for more Government funding for the UK games industry.

The trade body has called on George Osborne, the Chancellor of the Exchequer, to agree proposals for more investment in the games industry.

The first is the reinstatement of the Prototype Fund with a budget of 6m to allow smaller games companies to access Tax Relief.

Secondly, the trade body has asked for the Skills Investment Fund to be made permanent. Thirdly, UKIE has recommended that the Enterprise Investment Scheme and Seed Enterprise Investment Scheme be expanded, with the limit of 150,000 that a company can receive increased.

Finally, UKIE has asked the Chancellor to call for the creation of a funded and strategic plan for worldwide trade and investment activity in the games industry.

This government made a greatly needed and appreciated statement of intent when it put video games tax relief in place: that the UK should be the best place in the world to make and sell games,” UKIE CEO Dr Jo Twist said.

Now we need to follow that vision through to further accelerate the growth of the games sector and capitalise on the opportunity created by the tax relief.

This move damages the potential ability for businesses to access international partners and marketplaces. We need a coordinated approach to target international markets to understand the opportunities that the tax relief brings, both for exports and foreign direct investment into the UK.”