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Entertainment Marketing: Movies, TV, Music and Gaming Tiga

Emergency Budget news: Video Game developer tax relief scrapped

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By The Drum Team, Editorial

June 22, 2010 | 2 min read

This afternoon, Chancellor George Osbourne announced that he had decided to scrap the tax relief scheme for the video games industry which was introduced by his predecesoor Alistair Darling ahead of the recent general election.

As part of his emergency budget, Orbourne announced that he planned on cancelling the scheme that the £1bln video games industry in the UK had argued for, which would have offered tax relief for video games developers.

Only yesterday, video games association TIGA CEO Dr Richard Wilson presented a petition to 10 Downing Street signed by 37 senior figures from the industry calling for the introduction of the tax.

At the time, Richard Wilson said; “TIGA calls on the Prime Minister to confirm the introduction of Games Tax Relief in the Emergency Budget. TIGA’s research shows that over a five year period Games Tax Relief would protect or create 3,550 graduate level jobs, secure £457 million in investment and enhance innovation in the sector. Games Tax Relief would more than pay for itself, generating £415 million in tax receipts for HM Treasury. Games Tax Relief is good for the video games industry, good for consumers and good for the UK economy.”

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