TIGA, the network for videogame developers and digital publishers, today renewed its call for the establishment of an Export Tax Relief. TIGA made the call in the light of new data which revealed that just tiny fractions of two of UKT&I’s key schemes (Trade Assistance Programme funding and Events and Missions spending) were allocated to the video games sector.
Following a question posed to Matthew Hancock MP, Minister of State at the Department for Business, Innovation and Skills, Minister of State at the Department of Energy and Climate Change and Minister of State for Portsmouth, by Luciana Berger, Shadow Minister, Public Health and MP for Liverpool Wavertree, it was revealed that in 2013-14, just 1.4 per cent (£220,100) of total UKT&I Trade Assistance Programme funding was allocated to the video games sector. Additionally, just 0.18 per cent (£25,000) of total UKT&I Events and Missions spending was assigned to the video games sector.
Dr Richard Wilson, CEO, TIGA, said:
“UKT&I provides some helpful schemes, including TAP and Events and Missions and it is good that TAP funding for the videogame industry has increased over the past two years.
“Yet we need to do more. The UK video games industry is export focused: 95 per cent of UK games developers already export some of their games and they have the potential to increase their sales further. In 2013 the global videogame market was worth a staggering $93 Billion, far larger than the $15bn music industry, and bigger still than the $88.3bn worldwide film industry, and it represents a huge export opportunity for the UK.
“The introduction of an Export Tax Relief which provides a competitive tax rate (e.g. 15 or 10 per cent) on the profits generated from their exports would encourage more firms to export and give a powerful boost to those businesses already trading overseas. An Export Tax Relief could drive export led growth and help to rebalance the UK economy.”
Gary Bracey, Commercial Director at Kuju Entertainment, said:
“UKT&I’s TAP and Events and Missions programmes are great initiatives which should be enhanced in order to enable more games developers and publishers to strengthen their export markets. Additionally, the introduction of an Export Tax Relief would give a significant fillip to UK businesses competing in overseas markets.”
Notes to editors:
- TIGA is network for games developers and digital publishers. We are the trade association representing the UK video game industry. We help developers and digital publishers build successful studios, network with the right people, save money and access professional business advice. We also have traditional publishers, outsourcing companies, technology businesses and universities amongst our membership.
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 17 business awards.
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
For further information, you can also contact: Dr Richard Wilson, TIGA CEO on: 07875 939 643, or email: email@example.com
Drew Field, TIGA Communications Director on: 07720 643 344, or email firstname.lastname@example.org
- For more information TIGA’s proposals, including an Export Tax Relief, see: http://www.tiga.org/news/strengthening-the-uk-games-industry-tigas-proposals-for-the-2014-prebudget-report
- For information about UKTI’s support for the video games sector, see: http://www.parliament.uk/business/publications/written-questions-answers-statements/written-questions-answers/?page=1&max=20&questiontype=AllQuestions&house=commons%2clords&member=4070&keywords=ukti%2cand%2cvideo%2cgames