House of Lords Backs VG Tax Breaks

January 25, 2010 -

A House of Lords Communications Committee report on The British Film and Television Industries contains a section on videogames in which the committee endorses the idea of tax incentives for UK game development companies.

TIGA’s constant lobbying on behalf of the tax breaks appears to have made a dent, as it was noted by the committee that “videogames industry representatives told us that that they were under challenge from subsidised production overseas, and that this was evident in relative growth rates.”

The Committee stated in their report:

We recognise the claims of the videogames industry for support in the face of foreign government-subsidised competition, and recommend that the Government consider providing tax incentives for videogames production.

TIGA CEO Richard Wilson responded, “It is very encouraging that the cross-party, highly respected House of Lords Communications Committee has recommended that the Government should consider providing tax incentives for videogames production.”

Rebellion Studios CEO and Creative director Jason Kingsley, and also TIGA Chairman, added:

Today’s report by the House of Lords Communications Committee demonstrates that TIGA’s relentless campaign on behalf of the UK games industry is making an impact. Senior politicians from the key political parties now aspire to introduce TIGA’s Games Tax Relief.

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Re: House of Lords Backs VG Tax Breaks

I am happy to see that there are some more people in the UK taking game development tax credits seriously. I hope that this trend continues and they get the incentives they need.

E. Zachary Knight
Oklahoma City Chapter of the ECA
http://www.theeca.com/chapters_oklahoma

 
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