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TIGA hails 'decisive victory' as UK Government unveils games tax break

Congratulates ministers for 'brilliant decision'
TIGA hails 'decisive victory' as UK Government unveils games tax break
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Following an decade-long campaign by trade association TIGA to convince the Government to deliver tax relief for games developers, CEO Richard Wilson has branded the unveiling Chancellor George Osborne's Budget for 2012 as a "decisive victory".

Osborne said the tax cut would help support the games industry across the UK a sentiment Wilson echoed in a statement released shortly after the Budget was declared.

Relief for all

"This is a brilliant decision by the Government and terrific news for the UK video games industry," said Wilson in his statement.

"It is also a decisive victory won by TIGA through audacity, determination and endurance. 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."

Wilson said tax relief for the games sector would "increase employment, innovation and investment in the UK video games industry."

He continued, "Our research shows that Games Tax Relief should generate and safeguard: 4,661 direct and indirect jobs; £188 million in investment expenditure by studios; increase the games development sector's contribution to UK GDP by £283 million; generate £172 million in new and protected tax receipts to HM Treasury, and could cost just £96 million over five years."

Future focus

Looking ahead, Wilson said Osborne's Budget was designed to keep the UK at the forefront of games development in the months to come.

"It will also help to rebalance the UK economy away from an over-reliance on financial services towards a high skill, R&D intensive and export focused industry," he added.

He also pointed to the support of the Parliamentary All Party Computer and Video Games Industry Group, the Labour Party and the Scottish National Party.