News

UK chancellor George Osborne unveils games industry tax credits
Posted: 21.03.2012 13:34 by Simon Priest Comments: 4
Oh George you spoil us. UK chancellor of the exchequer George Osborne has announced there will be tax credits for the British video games industry. TIGA is elated by the news.

This "brilliant decision" by the coalition government is "terrific news" for UK studios, and they call it a "decisive victory won by TIGA" through sheer determination. No more brain drain?

"Today, we turn Britain into Europe’s technology centre. We will start with digital content," declared Conservative MP George Osborne. This is fantastic, long overdue news.

“The film tax credit, protected in our spending review, helps generate over a £1 billion of film production investment in the UK last year alone," he continued. "Today, I’m announcing our intention to introduce similar schemes for the videogames, animation and high-end TV production industries.”

Currently it's Canada that offers the best tax incentives and local support for games studios to start up and operate. Many criticised the UK governments back peddling on tax breaks and warned it would lead to a mass exodus of British talent costing hundreds of millions in the long run.

“This is a brilliant decision by the Government and terrific news for the UK video games industry. It is also a decisive victory won by TIGA through audacity, determination and endurance,” said TIGA CEO Richard Wilson.

"Like a boxer knocked down by his opponent, we refused to accept defeat and kept getting back in the ring. This victory will benefit not just the UK games development and digital publishing sector but also the wider UK economy.”

Is British talent worth saving? Well we've got the likes of Grand Theft Auto's Rockstar North and Batman: Arkham Asylum/City's Rocksteady calling ol Blighty their home, and many other talents: Ninja Theory, Crytek UK (formerly Free Radical), Rebellion, Lionhead Studios, Introversion, Codemasters, SCE London, Rare, Hello Games...
Source: Eurogamer

Comments

By novapaddy (SI Member) on Mar 21, 2012
novapaddy
I don't know where else to put this:

My compliments to the StrategyInformer staff, as I visit this site 3 or 4 times and day, and there is always lots of interesting stuff to read and review. Thanks guys!
By Xyfer117 (SI Core) on Mar 21, 2012
Xyfer117
If there was a compliments section I would have left good feedback ages ago, I've been a user for over a year now!
By JonahFalcon (SI Elite) on Mar 21, 2012
JonahFalcon
Considering publishers were pulling their UK-based devs by the boatload, I think the politicians got the message. Especially in this economy.
By nocutius (SI Elite) on Mar 21, 2012
nocutius
The chancellor, that's a weird title for a finanzminister.

Compensating a bit maybe :)