Advancing the UK Games Industry

By June 30, 2015 Press Releases

Advancing the UK Games Industry 

TIGA’s Proposals for the July 2015 Budget Backed by Leading MP

TIGA, the network for games developers and digital publishers, and the trade association representing the UK video games industry, said today that its proposals for the 2015 July Budget would strengthen games businesses, universities, and the wider UK economy. TIGA made the comments to coincide with the publication of its July 2015 Budget submission.

TIGA’s proposals have been backed by Chris White MP, a leading Parliamentarian who was Chair of the All Party Parliamentary Group for Video Games in the last Parliament.

Chris White MP, said:

“As Chair of the All Party Parliamentary Group for Video Games in the last Parliament, I worked closely with TIGA in promoting the value of the sector and pressing the Government to further support the games industry.  The proposals put forward in anticipation of the Budget would have a significant impact and would help the UK games sector to continue to compete globally.”

TIGA’s submission makes five key proposals:

  1. A Creative Content Fund (CCF) should be established in order to improve studios’ access to finance, stimulate new content development and IP generation. The CCF could make loans available to games businesses on a pound for pound, matched funding basis. The CCF could be financed via the National Lottery or via Innovate UK (formerly known as the Technology Strategy Board). The CCF could build on the Prototype Fund announced in the March 2015 Budget.
  2. The amount of money that a company can raise via SEIS investment should be increased from £150,000 to £200,000 per annum to reflect the rise in development budgets required to make internationally competitive games.
  3. Regional/National Games Development Incubators should be established at a university or at a consortium of universities in each of the English regions and in each of the nations within the UK to boost start-ups, universities and regional growth.
  4. A pilot Training Tax Relief should be introduced for small and medium-sized enterprises (SMEs). TTR would operate in a similar way to the existing R&D tax credits and would enable SMEs to offset expenditure on training, Continuous Professional Development (CPD) for staff and education outreach activities against corporation tax. An SME Training Tax Relief could build on The Skills Investment Fund, which was extended in the March 2015 Budget for two years.
  1. Video Games Tax Relief should be retained. The Government should carry out a cost benefit analysis of the merits of enhancing the Relief in order to stimulate further investment.

 

TIGA envisages that the SME Training Tax Relief would be accessible to small businesses in many different sectors of the UK economy. Likewise, the SEIS scheme is cross-sectoral in nature. 

Dr Richard Wilson, TIGA CEO, said:

“TIGA’s submission for the July 2015 Budget sets out proposals to reinforce success in the UK games industry. TIGA’s programme will help small, medium-sized and larger development studios; higher education; and regional growth. It incentivises training, improves access to finance and so contributes to the wider agenda of promoting UK economic growth.”

The Rt Hon George Osborne MP, Chancellor of the Exchequer, will present the first Budget of the new Parliament on 8th July 2015.

– ends –

About TIGA

TIGA is 90% funded by independent UK businesses. 80% of our board members are developers and/or from UK owned businesses, and 50% of our board are UK business owners themselves. Since 2010, TIGA has won 24 business awards and commendations. TIGA focuses on three sets of activities:

  • Political representation
  • Media representation
  • Business services

This enhances the competitiveness of our members by providing benefits that make a material difference to their businesses, including a reduction in costs and improved commercial opportunities. It also means our members’ voices are heard in the corridors of power and positively represented in national, broadcast and UK video game trade media.

Get in touch: Tel: 0845 468 2330

Email: info@tiga.org

Web: www.tiga.org

Twitter: www.twitter.com/tigamovement

Facebook: www.facebook.com/TIGAMovement

LinkedIn: http://www.linkedin.com/company/tiga

For further information, you can also contact:  Dr Richard Wilson, TIGA CEO on: 07875 939 643, or email: richard.wilson@tiga.org

 

 

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