TIGA urges the Government to back export oriented industries as UK trade deficit widens

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TIGA, the trade association representing the UK games industry, urged policy makers to support business sectors which could power an export led recovery.

TIGA made the comments following the latest Office of National Statistics figures on trade, showing that the UK’s trade deficit in goods and services with the rest of the world widened to £4.5 billion in June, up from £4 billion in May.

Dr Richard Wilson, TIGA CEO, said:

“The UK Coalition Government rightly wants to see growth in the UK driven by exports. With consumer spending hobbled by rising prices and the VAT hike and Government expenditure being cut, exports are the only real way for the UK economy to grow. The latest ONS figures show that the UK faces a real challenge to achieve an export led recovery.

“The Coalition Government should identify and support those sectors which have a high propensity to export. The UK video games sector is one such industry. 95 per cent of developers export their video games and the typical developer generates 45 per cent of their turnover through the export of games. The Government should look again at tax measures which will enable the UK video games sector to grow, such as Games Tax Relief, together with measures which will improve access to finance for start-ups.

“For our part, TIGA will continue to champion the UK games industry globally. Next week, TIGA will promote the UK games industry at gamescom in Cologne. The UK is the partner country for this year’s gamescom and TIGA is overseeing the UK’s official promotion. We look forward to highlighting our industry to the media and other interested parties at this major tradeshow.”

Jason Kingsley, TIGA Chairman and CEO and Creative Director at Rebellion, said:

“Many UK games businesses already generate a large proportion of their turnover through exports. 90 per cent of my own business’s revenues are earned through exports. The UK Coalition Government is sensibly aiming for an export led recovery, but to achieve this will require support for those sectors with a predisposition to export. TIGA believes that a tax break for games production, allied with measures to help small developers access finance, will enable more games businesses to grow and to export. We will continue to refine the case for these policies over the coming months.”

Ends

About TIGA:

TIGA is the trade association representing the UK’s games industry. The majority of our members are either independent games developers or in-house publisher owned developers. We also have games publishers, outsourcing companies, technology businesses and universities amongst our membership. TIGA was awarded ‘Trade Association of the Year’ and the ‘Member Recruitment Award’ at the Trade Association Forum Best Practice Awards 2010.  In 2011, TIGA won a further four awards at the Trade Association Forum Best Practice Awards, including ‘Trade Association of the Year’ for the second consecutive year. 

TIGA has been voted a finalist in the CMI Management and Leadership Awards 2011 in the ‘Outstanding Organisation (SME)’ category. Dr Richard Wilson, TIGA CEO, has been voted a finalist in the ‘Outstanding Leader’ category.  TIGA was also  named as a finalist in the 2010 Chartered Management Institute (CMI) National Management and Leadership Awards in the category of ‘The Outstanding Organisation of the Year Award (SME)’. TIGA is an ‘Investors in People’ accredited organisation.

TIGA is the trade association representing the UK’s games industry.  Our vision is to make the UK the best place in the world to do games business. Our mission is to fight for the interests of game developers. To achieve our vision and mission we focus on the delivery of three strategic objectives: effective political representation, profile raising and helping our members commercially. This means that TIGA members are effectively represented in the corridors of power, their voice is heard in the media and they receive benefits that make a material difference to their businesses, including a reduction in costs and improved commercial opportunities.

For further information, please contact Dr Richard Wilson, TIGA CEO on: 07875 939 643, or email richard.wilson@tiga.org .

 

 


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