TIGA has delivered its Spring Statement 2022 submission to the Rt Hon Rishi Sunak MP, Chancellor of the Exchequer.
TIGA has called for:
- An increase in the rate of Video Games Tax Relief (VGTR) from 25 per cent of 80 per cent of core expenditure to 32 per cent of 80 per cent of core expenditure. The scope of qualifying expenditure should be widened to cover post-launch activities, for example, data management and analysis, LiveOps (maintenance and updates).
- The establishment of a Video Games Investment Fund (VGIF) to provide pound for pound match funding of between £75,000 and £500,000 to games developers throughout the UK.
- The reinstatement of the Skills Investment Fund (SIF) to provide matched funding for games industry skill development.
Dr Richard Wilson OBE, CEO of TIGA said:
“The UK video games industry is one of the sectors that the UK Government should aim to promote over the coming years. It is a high skills, high technology and export-focused industry. Our sector will support the Levelling Up Agenda, with clusters of games development from Brighton to Dundee and approximately 80 per cent of the workforce based outside of London.
“Ahead of the March 2022 Spring Statement, TIGA has called for the Government to enhance Video Games Tax Relief to drive investment and high skills job creation, introduce a Video Games Investment Fund to improve studios’ access to finance and introduce a Skills Investment Fund to promote workforce development. This trinity of measures will support growth in the industry and the wider economy.”
TIGA is the trade association for the UK video games industry. Our vision is to make the UK the best place in the world to develop video games. Our core purpose is to strengthen the games development and digital publishing sector. To this end, we focus on four strategic objectives:
- influencing Government policy via effective political representation;
- raising the profile of our industry to influence public policy;
- enhancing education and skills through our accreditation programme (https://tiga.org/education/tiga-university-accreditation) and the TIGA Games Education Awards (https://tiga.org/education-awards); and
- promoting best practice through our membership services, including the TIGA STAR Employer Award (https://tiga.org/star) and the TIGA Games Industry Awards (https://tiga.org/awards).
For more information contact TIGA: