â??Investment and jobs are drifting away to other countriesâ??
A lack of tax breaks for Britain is a key reason for the extraordinary 9 per cent drop in the UK’s devforce, industry association Tiga believes.
Commenting on the figure – revealed for the first time yesterday by Develop-Online – Tiga CEO Richard Wilson said a lack of game development tax breaks had put the UK sector at a “competitive disadvantage”.
“Many of our key competitors provide tax breaks for video games production. No such tax breaks for games production exist in the UK. Investment and jobs are drifting away to other countries,” he said.
The association has been campaigning for tax relief for more than two years – driving the issue to number ten and the halls of Parliament.
“Tiga urges the Coalition Government to look again at Games Tax Relief and improve R&D tax credits to help high technology firms including development businesses,” Wilson said.
Yesterday at a Commons session the Prime Minister said tax breaks – and other similar relief schemes – were axed so the government could afford lowering corporation tax.