Ukie Urges Government To Push Games Production Tax Credits Through
Peter Donnell / 6 years ago
UK games and interactive entertainment trade body calls for final push to get games production tax credits in place. Responding to today’s autumn statement by Chancellor George Osborne, Ukie CEO Dr Jo Twist welcomed plans to cap any increase in business rates and to abolish national insurance contributions for young people. Noting the boost to film tax relief that was announced, Dr Twist called on the government to continue doing everything possible to push through the introduction of games production tax credits, as announced in the 2012 Budget.
“Anything this government can do to keep business costs down and help companies of all sizes flourish is positive, so it was good to hear today that any rise in business rates will be capped, that small businesses will be able to pay rates monthly, and that national insurance contributions will be abolished for under-21s. Combined with support from the Skills Investment Fund Trainee Finder Scheme, this should make it a great deal for games companies bringing talented young people into the industry.
“However the announcement of an extra boost to film tax relief reminds us that the most important thing the government can do for the games and interactive entertainment industry right now is give the final push to the games production tax credits through the European Commission, and get this vital support for the UK development sector in place at last. We have been working closely with the teams in the Treasury, HMRC and DCMS, and know they are doing all they can to convince the European Commission of the strength of our case. Today’s statement is a reminder of the need to see this through and get these long-awaited tax credits out to developers.”
Dr Twist added: “It was also heartening to hear a renewed commitment to STEM skills, but we will continue to push for the inclusion of art and STEAM through the work of the Next Gen Skills campaign”.
The Chancellor also committed to helping more UK companies do business overseas and increase exports. Ukie has been at Game Connection Paris this week running the UK Industry Stand at the business event. More than 30 British businesses of all sizes have been exhibiting in the UK area and Ukie, as the UKTI official TAP grant partner, has saved them over £34k attending and exhibiting. Ukie will also be running the UK Industry stand at GDC in San Francisco.
The games industry has fallen some tough times over the last few years here in the UK and many developers have either moved outside of the UK or simply shutdown. These new incentives could help change that and bring more developers back into the UK in the future.
Thank you Ukie for providing us with this information.
Image courtesy of Ukie.