TIGA, the UK trade association for the video games development industry, has said that the Coalition Government’s reversal on plans for video games tax relief could jeopardise inward investment.
The statement was made following the report in the FT today which indicated that several major international studios may not invest in UK development following the tax relief turnaround.
TIGA CEO Richard Wilson said that he believes the UK video games industry is not competing on a level playing field.
“Our key competitors have tax breaks for video games production. No such tax break exists in the UK. If Games Tax Relief is introduced then the UK will be open for business for the crucial knowledge industry of video game development,” he said.
“Games Tax Relief will stimulate investment, business growth and the creation of highly skilled jobs. Without Games Tax Relief, the UK faces a serious risk of losing out on millions of pounds of investment.”