2015

UKIE calls on government to modernise Video Games Expenditure Credit ahead of Autumn Budget

UKIE calls on government to modernise Video Games Expenditure Credit ahead of Autumn Budget "Reforming VGEC is essential to ensuring the UK remains a competitive place to build and grow games businesses," says UKIE CEO Ahead of this week's Autumn Budget, UKIE is urging the UK government to modernise the Video Games Expenditure Credit (VGEC). Tax system modernisation UKIE, TIGA, and the UK Video Games Council have proposed a tapered 'games growth' fund, offering 53% support for projects with budgets up to £15 million, and 39% for those between £15 million and £23.5 million. However, Poole notes there is "a gap in support for studios looking to move beyond early-stage funding." "A Games Scale-Up Fund would provide growth capital to help promising studios expand, retain ownership of their IP, and attract further private investment, creating the conditions for more British success stories like Hello Games, Rebellion, and Team 17." Rebellion co-founder and CEO Jason Kingsley agrees, adding that these steps "would help British developers grow, create jobs and compete on the global stage." "A Games Scale-Up Fund would help promising studios expand, retain ownership of their IP, and attract further private investment" "Companies like ours are increasingly developing original British IP that can be enjoyed across games, comics, film and television, but the current system of tax reliefs doesn't fully reflect this." "We want to see a system that better supports businesses creating and retaining original British IP, helping them develop successful franchises across multiple formats and reinvest the value they generate back into the UK economy." Poole says the Games Scale Up Fund would "complement rather than duplicate the UK Games Fund," and be provided via an "established investment vehicle, potentially working with the British Business Bank and specialist games-industry expertise." "Using a co-investment model in which the British Business Bank could contribute up to two-thirds of the funding alongside private investors. "The UK faces growing competition from countries such as Canada (particularly Quebec), France, Ireland and Australia, all of which offer dedicated incentives to attract games development." Canada has "an established system of federal and provincial incentives," France has a 30% tax credit, Ireland has a 32% Digital Games Credit, and Australia has a 30% tax offset for qualifying games development.

GamesIndustry.biz10/27/2026release

Влияние: 62/100

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