TIGA: New Data Supports Tax Relief
According to figures published today, TIGA argues that if a Canadian-style system of tax relief was introduced in the UK, the games industry would eventually see yearly growth of four per cent. “The UK games industry is still successful and world leading. However, because most of our key competitors benefit from a tax break for games production, our industry is at a competitive disadvantage," said Gareth Edmondson, vice chairman of TIGA and managing director of Ubisoft Reflections.
"Unless the UK Government introduces TIGA’s proposed Games Tax Relief, our research suggests that employment in the development sector will fall by 5 per cent in each of the next five years." Edmondson also expanded on the proposed effect of Games Tax Relief: “The industry would stop shrinking in 2010, grow by 2 per cent in 2011 and by 4 per cent in each of the next three years. 3,550 graduate-level jobs and £457 million of investments in the development sector would be created or protected with the advent of the tax break."