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UK Videogame Industry Reveals Its Top 3 Pre-Election Wish List

By April 2, 2015 No Comments

Keeping GTR, Prototype Funding and Unlocking Lottery Cash Are Sector’s Top Priorities

TIGA, the network for games developers and digital publishers, and trade association representing the UK videogames industry, has announced the findings of a snapshot survey to determine what the sector would most like to see from the next Government, following the general election on May 7th.

Responses from more than 100 UK games businesses demonstrated what industry professionals see as the top three priorities in terms of Government support, with the findings as follows:

  • #1 Priority: Video Games Tax Relief should be retained. During the course of the next Parliament the Government should carry out a cost benefit analysis of the merits of increasing the level of the Relief from 25 per cent to 30 per cent to stimulate further investment, 
  • #2 Priority: Prototype funding should be made available to enable start-up studios to access finance and develop new IP.
  • #3 Priority: National Lottery funding could be made available to provide investment for games development, including a Creative Content Fund.

The findings confirm that Games Tax Relief (GTR) is seen as the single most important measure for the health of the industry, with TIGA estimating it to be worth £188m in additional investment for the UK’s game developers over the first five years of its availability. GTR allows UK game developers to compete on a level playing field in the global video game market, and decisively reduces the cost of making games in the UK by 25%.

TIGA’s Pre-Election Survey also shows that that access to finance remains a top priority for UK games businesses. Significantly, a new £4 million Prototype Fund was announced in the 2015 Budget.

It is also clear that UK games businesses would like to be able to access the National Lottery funding the BFI invests in the UK film industry, which currently stands at more than £26m per year, with the budget set to rise to £30m by 2017. Some of this money could be used to finance a Creative Content Fund which would provide matched loans on a pound for pound basis to UK games businesses for developing new IP.

Other key measures TIGA continues to campaign for include more support for regional games clusters, a tax relief for SME exporters, tax incentives to encourage SME training investment, and the establishment of Regional/National Games Development Incubators at key universities throughout the UK.

Dr Richard Wilson, CEO, TIGA, said:

“This survey shows that access to finance continues to be a critical issue facing the UK video games industry: Games Tax Relief, the Prototype Fund and the Creative Content Fund all have the effect of enabling developers to raise more finance and invest more money in games development in the UK.

“It is hugely encouraging that Games Tax Relief has been introduced, and a Prototype Fund announced in the last budget of this Parliament. However it is vital this progress is maintained if the UK videogames industry is to fulfil its growth potential on the global stage. For example, the establishment of a Creative Content Fund, potentially financed via the National Lottery (or from Innovate UK) would give a further significant boost to the sector.”

 

– ends –

 

Methodology 

In March 2015, TIGA members and other UK games industry professionals were asked to choose their top three proposals from a list of 21 proposals taken from TIGA’s 2015 Manifesto – 20/20 Vision: Strengthening the UK Games Industry

#1 Priority Choices were given 3 points, #2 Priority Choices were given 2 points, and #3 Priority Choices were given 1 point, with the points for each proposal added up, to ascertain respondents’ top three priorities overall.

 

About TIGA 

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 22 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.

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