TIGA submits a trinity of proposals to HM Treasury ahead of the March 2022 Spring Statement

By March 21, 2022 Press Releases

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.”

About TIGA:

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:

For more information contact TIGA:

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


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