132 new games have been certified in Q1-Q3 2018 according to new figures released by BFI
- Tax relief has stimulated £108m in total budget spend in this time
London – 05 November, 2018 – TIGA, the independent games association, today urges the UK Government to maintain and enhance its backing of the UK games industry. New figures from the BFI indicate the impact of Video Games Tax Relief, the potential of the sector and the need to maintain its competitiveness.
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 132 new games between Q1-Q3 2018, with budgets totalling £108m. UK/EEA spend totalled £94m.
The number of games receiving interim certification fell year-on-year to 110 games, however total budgets for these games nearly tripled, to £926m up from £319m last year.
Dr Richard Wilson OBE, CEO at TIGA, said, “These latest stats show that VGTR continues to be a great success, helping the games industry in the UK become a real jewel in the crown of our economy. As we move towards Brexit, it is vital that we maintain and enhance our video games industry because our sector is export focused and creates high skilled jobs. We should maintain and potentially enhance VGTR, introduce a Video Games Investment Fund to help more small studios to grow and ensure that we can continue to recruit highly skilled people from the EU and beyond post-Brexit. This will enable our sector to grow, invest and succeed.”
Jason Kingsley OBE, Chair of TIGA and CEO and Creative Director at games developer Rebellion, said, “The video games industry is estimated to contribute £1.5bn to the UK economy each year. Yet we can’t be complacent, and especially with Brexit fast approaching we need to retain and maximise VGTR, help more small studios access finance and enable our sector to access to the best global talent is as painless as possible. Maintaining a globally competitive sector requires hard work and energy, but we’ve already seen how worthwhile incentives for the games sector can be.”
ENDS
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Rory Leader / Edward Bell
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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.