News

Economist speaks out on need for UK games industry tax breaks

Everyone thinks it's necessary. Except the government

Economist speaks out on need for UK games industry tax breaks
TIGA has been campaigning long and hard to encourage the UK government to provide similar tax breaks to the games industry as countries such as Canada are doing, in an effort to retain talent and build on the industry's solid foundation.

GamesIndustry.biz reports on economist and Nobel Prize winner Paul Krugman, who wrote a feature in the latest issue of Esquire backing the argument for game development tax breaks in the UK.

"Innovation hotspots that occur accidentally - as has happened in Dundee, where Abertay University’s unorthodox technology courses spawned a booming video games industry - can fizzle out if they are not incubated," Krugman begins. "[The] British government could seed many industrial communities for relatively little outlay."

This echoes what TIGA has been saying for quite some time, as it battles to level the global playing field and protect one of the UK's last remaining industries.

"TIGA’s proposed Games Tax Relief is expected to create or save 3,550 graduate level jobs (or the vocational equivalent), increase or safeguard GBP 457 million in development expenditure and secure GBP 415 million in new and saved tax receipts over five years," adds TIGA CEO Richard Wilson.

"The outlay for the government is anticipated to be GBP 192 million over the same period. It is not necessary to have a Nobel Prize in economics to know that this policy makes sense."

Yes. Spanner's his real name. And, yes, he's heard that joke before.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies