UK Chancellor George Osborne Calls Tax Incentives an ‘Unfinished Story’

UK Chancellor George Osborne and Culture minister Ed Vaizey said today that the European Commission's investigation into proposed tax incentives for the video game industry that have a cultural requirement will not stop UK lawmakers from providing games tax breaks. Speaking at the British Film Commission event for the launch of creative sector tax breaks for TV and animation, the pair showed that their support for tax breaks had not wavered.

Osborne described the tax incentives for the games industry as an "unfinished story." Vaizey added that the EC investigation was "nothing unusual."

"It’s what happened with the French tax relief. We are still committed to it – we are writing it into the finance bill now. And we will work as fast as we can with the EU commission [to secure approval]," said Vaizey.

"A lot of people want to make film, TV and video games in the UK because of the tax breaks," he added.

Osborne said that these tax incentives may help to lure back some of the studios that left for other countries like Canada, and that the UK has a great talent pool:

"Ultimately a tax change isn’t going to make all the difference in the world – what makes a difference is that we have a skilled talent pool here,” he said.

Source: MCV



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