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UK Government unveils games tax break in 2012 Budget

Osborne looking to drive digital content
UK Government unveils games tax break in 2012 Budget

UK Chancellor of the Exchequer George Osborne has announced the formation of a new games development tax break as part of his 2012 Budget.

Speaking in the House of Commons, Osborne said he was looking to turn Britain into "Europe's technology centre", with digital content and the businesses behind it leading the line.

Backing brilliance

"The film tax credit, protected in our spending review, helped generate over £1 billion of film production investment in the UK last year alone," said Osborne in the speech.

"Today I am announcing our intention to introduce similar schemes for the video games, animation and high-end TV production industries.

"It will support our brilliant video games and animation industries."

Specific details of the tax break itself are not yet clear, but the move comes after continued pressure from trade association TIGA to support the UK's games industry.