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Home » Featured, News

UK video games tax break scrapped

Submitted by on Wednesday, 23 June 20105 Comments

george osbourne e1277275801795 UK video games tax break scrappedConservative Chancellor George Osborne has announced that the Coalition Government will not be implementing a tax break for the video games industry that was proposed by the former Labour Government – describing it as “poorly targeted”.

This hasn’t come as any major shock, as it was always feared that the tax break would face the axe if the Conservatives and their “tough but fair” cuts got into power.

Development industry trade body TIGA has spoken of its fear that key studios and members of staff will look to emigrate without any sort of tax break.

According to TIGA figures, the UK’s games development workforce has fallen by 44 studios – six per cent – since 2008.

How do we all feel about this one?  Whilst it’s certainly a frustrating piece of news, the video games industry is in no way the sole target of Mr Osbourne’s cutting implement – and it’s fair to say the vast majority of the British public will be affected in some way over the coming year.

Is it time to just dig deep and get on with it?  Out of the 44 studios that have closed – how many were actually due to the recession and not just heavy investments in games that weren’t very good, and subsequently didn’t sell?  Haze – we’re looking at you.

[Source]