Monday 20 December 2010 - London, United Kingdom– Responding to the Government’s Growth Review, UKIE sets out its agenda for ensuring the UK’s wider video games and interactive entertainment industry continues to thrive.
UKIE’s response to the Government’s Growth Review, looking at the Digital and Creative Industries, outlines an agenda that considers the wider interactive entertainment industry. Responding to a number of questions posed by the Government, UKIE took a further opportunity to promote its skills agenda, and set out its proposals for ensuring greater access to finance (particularly for small and medium sized business); the protection of intellectual property; and support for technological convergence.
In addition to UKIE’s continued support for a video games production tax relief, UKIE set out a number of ways in which the Government could support small and medium sized interactive entertainment businesses in accessing finance. This includes amending rules around Venture Capital Trusts and Enterprise Investment Schemes to allow project-based (as opposed to portfolio) investment; conducting a supply-side audit of banks to determine where blockages may exist in lending to interactive entertainment companies; providing support for prototyping to help products become more commercially viable and therefore more attractive to banks and investors; the introduction of a royalty box to support innovation and R&D; and the retention and modification of the R&D tax credit scheme.
UKIE also reaffirmed its support for the current the IP framework and for the Digital Economy Act and urged the Government to take action to reduce infringement of IP rights, particularly in the online space. This includes measures to tackle unlawful file sharing and the sale of pirated goods and circumvention devices and services online.
Michael Rawlinson, Director General of UKIE, said,“We welcome the Government’s Growth Review and its specific focus on the digital and creative industries. The video games and interactive entertainment industry is the UK’s leading creative industry, and the proposals we have set out today will ensure the right conditions for our industry to continue to thrive.”
“UKIE continues to fully support tax breaks and we also think it’s important to look at additional ways that government can support our entire industry from small start-ups to more established companies.”
“For the UK’s video games and interactive entertainment industry to continue thrive all parts of it need to be successful. The practical measures we have outlined, particularly around access to finance, demonstrate UKIE’s commitment to supporting the entire interactive entertainment industry– whatever the size of the businesses involved and whether they be developers, emerging start-ups or publishers.”
“UKIE looks forward to working hard with Government to ensure the UK’s video games industry thrives and plays its part in rebalancing the economy.”
The full submission can be found here.
For all press enquiries, please contact the UKIE press office on T: +44 (0)20 7534 0580 or E: email@example.com
The Association for United Kingdom Interactive Entertainment or UKIE is a trade body that represents the whole of the UK’s video games and wider interactive entertainment industry. Founded in 1989 (and formerly known as ELSPA), UKIE’s membership includes games publishers, developers and the academic institutions that support the industry.
UKIE works with government to champion a range of issues including age ratings, education and skills, tax incentives and protecting intellectual property rights. It also works with the media to ensure true and accurate representation of the sector by raising awareness of the industry’s positive economic contribution and the societal benefits of gaming to policy makers, regulators and consumers.
One of UKIE’s key roles is to support its members by providing them with key market information, promoting careers and offering the business support services, training and best-practice knowledge to enable them to operate most effectively.
In addition, UKIE works with GfK Chart-Track to compile weekly, monthly and annual retail charts and sales reports for the UK market.