TIGA: 'Lack of tax relief a mistake'

TIGA has responded to the Pre-Budget Report.

The trade association said that the government's lack of commitment towards the UK games industry was both a "mistake" and a "failure of imagination".

"We have consistently warned the Government that without the introduction of a Games Tax Relief the video games development sector will likely decline by 5% each year over each of the next five years," said CEO Richard Wilson.

"Conversely, if a Games Tax Relief is introduced, then the industry will eventually enjoy annual growth of 4%. In addition, Games Tax Relief will more than pay for itself. Over five years the tax measure would cost £192 million but would deliver £415 million in tax receipts. Games Tax Relief would also secure 3,550 highly skilled graduate level jobs."

He added that the government must invest for the industry to remain "world beating" and to become one of the leading digital industries in the country.

TIGA has called for support from the government for several months, while the Conservative party has recently backed the industry.

> Taxing Times For The UK Gaming Industry