TIGA calls on the UK Government to further support the British games industry following latest VGTR stats

By November 2, 2017Press Releases
  • 161 new games have been certified in Q1-Q3 2017 according to new figures released by BFI
  • Tax relief has stimulated £160m in total budget spend in this time

London – 02 November, 2017 – TIGA, the independent games association, today urges the UK Government to further support the UK games industry, as new figures from the BFI further prove the success of Video Games Tax Relief (VGTR).

VGTR, which effectively reduces of the cost of games development, was first implemented in April 2014 after a lengthy campaign led by TIGA. It has supported the creation of 161 new games in Q1-Q3 2017 alone, with budgets totalling £160m. UK/EEA spend totalled £137m.

VGTR has supported the creation of 130 games since Q1-Q3 2016 with budgets totalling £320m and a UK/EEA spend of £297m.

Dr Richard Wilson, CEO at TIGA, said, “Today’s statistics clearly show that the UK video games industry is seeing strong, sustained momentum. We are delighted that Video Games Tax Relief (VGTR) is continuing to be such a success, supporting a gaming sector which is leading the charge in the UK creative industries. With the advent of Brexit, it is more important than ever for the UK Government to retain and potentially enhance Video Games Tax Relief, strengthen education and training and enable businesses to continue to recruit highly skilled people from the EU and the rest of the world. This will enable the UK games development sector to remain world leading.”

Jason Kingsley OBE, Chair of TIGA and co-founder at games developer Rebellion, said, “We should all be extremely proud of the UK games industry, and not just developers but the country as a whole, as the booming industry adds over £1.2 billion to the UK economy each year. This economic boost is attributed to the positive impact games tax relief continues to have in supporting the industry push the limits of creativity and technology. There’s still work to be done and we look forward to working with the government to ensure the UK games industry remains the envy of the world.”

ENDS

 

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About TIGA:

 

TIGA is the non-profit trade association representing the UK’s games industry. Its members include independent games developers, in-house publisher-owned developers, outsourcing companies, technology businesses and universities.

 

TIGA’s vision is to make the UK the best place in the world to do games business. It does this through Government lobbying and maintaining a voice in the corridors of power at both the Westminster and Scottish parliament.