On 30 June 2020, the Financial Secretary to the Treasury, Rt Hon Jesse Norman MP, responded to a written question on the contribution of Video Games Tax Relief (VGTR) to the UK’s economy and job market.
His full written answer can be found below:
Video Games: Tax Allowances
30 June 2020
Alex Sobel: To ask the Chancellor of the Exchequer, what assessment he has made of the contribution of the Video Games Tax Relief to the UK’s (a) economy and (b) job market.
Jesse Norman: HMRC publish annual statistics on all of the UK’s Creative Sector Tax Reliefs. These statistics show that since Video Games tax relief was introduced in 2014 it has supported almost £2.6bn of expenditure across the UK.
A 2018 British Film Institute (BFI) report on the screen sector tax reliefs found that across all parts of the value chain, the Video Games Tax Relief had helped to generate 4,640 direct full-time equivalent (FTE) jobs in 2016.