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Osborne announces tax breaks for UK Games Industry

UK chancellor George Osborne has announced tax breaks for the UK games industry.

The news comes via a wide ranging budget and will no doubt prove to be good for start up and large studios throughout the UK.

“Today, we turn Britain into Europe’s technology centre. We will start with digital content,” Osbourne said in budget speech.

“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.

“Today, I’m announcing our intention to introduce similar schemes for the videogames, animation and high-end TV production industries.”

What has to be remembered is that Labour’s Alistair Darling, announced similar plans in 2010, but the conservatives threw plans out soon after coming into power.

Still, at least UK trade body TIGA was happy with the news.

“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 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.”

Edited On 21 Mar, 2012

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