Labour promise UK games industry tax breaks
The current British Chancellor announced yesterday to the House of Commons that they would be extending tax breaks to UK games developers.
This announcement prompted the entire UK games industry to jump for joy. The statement said: "The Government announces that, following consultation on design, it will introduce a tax relief for the UK's video games industry, subject to state aid approval from the European Commission."
Given that major UK developers such as Realtime Worlds were looking at relocating if the government did not look at introducing tax breaks to keep the UK competitive with the likes of Canada and France this announcement will be a major boost to the British games industry.
The CEO of TIGA, the games industry's representative body in the UK, Dr Richard Wilson said with relief: "This is an inspired decision. In backing Tiga's Games Tax Relief the Government has chosen the future over the past, growth over decline, success over failure. Games Tax Relief will increase employment, investment and innovation in the UK video games sector."