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Tiga Urges Gov't Tax Credits For Games

Tiga Urges Gov't Tax Credits For Games

October 6, 2008 | By Eric Caoili

October 6, 2008 | By Eric Caoili
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More: Console/PC

Tiga (The Independent Games Developers Association) CEO Richard Wilson called for the UK government to support the games industry in its Pre-Budget Report for March 2009, recommending tax credits and corporation tax reductions for local game production companies.

"The credit crunch, turmoil in the financial markets, and declining economic activity constrain a government's fiscal room for manoeuvre; but constraint is not the same as paralysis," says Wilson.

He advised that the government observe Ontario's recent move to back its developers with a Next Generation of Jobs Fund, which devotes $1.15 billion towards digital media, game, and tech companies who create jobs, use "green" manufacturing processes and who move or create a location in the province.

"Just as the Ontario administration is supporting its games developers in the midst of difficult economic conditions, so the UK government should back its video games industry."

Tiga noted in September that British developers are benefiting from the decline in sterling against the dollar, with UK currency falling in value by some 14 percent against the U.S. dollar over the last 10 months.

Wilson added, "The UK government can build on these competitive advantages in the Pre-Budget Report by announcing a consultation on the merits of a tax credit for games production and eventual reductions in corporation tax."

"Consultation on these measures would give a powerful signal of support to the UK games industry. Implementation of these ideas in the March 2009 Budget would provide a potent fillip to the UK games development industry."

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