CEO Richard Wilson says a Â£150m tax break would trigger a Â£220m investment surge, creating some 1,600 graduate jobs
David Cameron’s Conservative Party should support a range of measures that need to be taken to encourage investment in the video game sector, says UK games industry group Tiga.
Tiga, which is set to rebrand itself, wants the Conservative party to support measures to encourage investment in research and development, support tax breaks for games production, and support cuts in tuition fees for mathematics and computer science undergraduates in order to “increase the supply of skilled people available to work in the digital sectors”.
Tiga CEO Richard Wilson warned that “if the UK is to be a global centre for the digital industries, then we need to create an environment in which business is relatively lightly regulated, the tax burden is comparatively light, simple and stable, and investment in R&D is encouraged.”
“With specific reference to the video games industry, the Conservative Party’s Review Group should support a tax break for games production, similar to the European Union approved French tax credit,” he added.
“This would help to ensure that the UK video games development sector remains world-beating.”
Wilson referenced unnamed “industry research” which projects that that a 20 percent tax credit would trigger a £220 million increase in investment within five years, with the bill costing the Treasury around £150 million. He said these measures would create a further 1,600 graduate jobs over the same period as well.
Tiga also states that a career in the games business should be something that is promoted in schools; “at least in part to encourage more young people to stick with science, technology, engineering and mathematics subjects,” the group added.
“Just as Tiga responds to Government consultation documents, so we reply to opposition parties requests for information and policy input,” said Wilson.