George Osborne’s 2012 budget didn’t please everyone. It was even described as “cynical, deluded and regressive” by one political commentator. But you can’t please all of the people all of the time. Can you?
Osborne did please some of the people, though. Those people are the good folk working in the UK games industry. After snatching away their tax breaks in his first budget, he’s decided that they are necessary and good for the country.
This is how the industry responded to the news.
Nevertheless, some like Miles Jacobson of Sports Interactive, were reluctant to be too optimistic.
milessi" class="twitter-newwindow twitter-reply">ReplyPercyBlakeney63 @ViralNinja @stewartgilray been stitched up too many times to be positive about it Andy. Would love to be proved wrong!" class="twitter-newwindow twitter-retweet">Retweet
Jacobson’s position was
understandable. Tax relief was initially proposed by Labour but those plans were later scrapped by the Tories after they were elected.
milessi" class="twitter-newwindow twitter-reply">Replyedfear really? Hope you don't count us as a triple A then. I want to be able to lower unemployment & make our games better with the credit." class="twitter-newwindow twitter-retweet">Retweet
So, why is tax relief so important to the UK games industry? Develop ran stories throughout the day with comments from industry veterans on why it means so much.
TIGA’s Richard Wilson predicts that tax relief “should generate and safeguard 4,661 direct and indirect jobs, offer £188m in investment expenditure by studios, increase the games development sector’s contribution to UK GDP by £283m and generate £172m for the Treasury.”
Michael_French" class="twitter-newwindow twitter-reply">Replyian_livingstone deserves a round of applause - he has been the Gov's go-to man on this. A true legend for UK games. #UKgamestaxbreaks" class="twitter-newwindow twitter-retweet">Retweet