Government Restates Games Tax Credit Lack of Plan
MP receives letter that says very little...
Game developers association, Tiga, has released the news that "Dundee West MSP Joe FitzPatrick today welcomed a reply he has received from the Chancellor George Osborne which announces that the UK government will consult with businesses in the autumn to review the support which R&D tax credits provide for innovation in the games".
Sounds good and positive, yes? Apparently the Chancellor told the MSP, "The UK’s R&D tax credit schemes provide an internationally competitive tax regime for R&D activity, providing nearly £800 million of relief and supporting around 7,500 innovative companies each year, including companies in the video games industry.
"To ensure the continued effectiveness of the schemes, the Government will consult with business in autumn 2010 to review the taxation of intellectual property, the support R&D tax credits provide for innovation and the proposals of the Dyson review. We would welcome any representations on the schemes as part of this process."
Excellent. But hold on, back in March, Channel 4 reported that, "The Tories have pledged to retain tax credits for research and development as a policy review led by Sir James Dyson declared them an 'excellent' measure."
James Dyson of vacuum and out-sourcing fame provided the Tories with the report, he said at the time: "Tax credits can be an excellent way of supporting companies willing to risk their own capital in R&D," he said, calling the present system 'well intentioned but not well targeted'.
"A Conservative government should refocus R&D tax credits on hi-tech companies, small businesses and new start-ups in order to stimulate a new wave of technology."
More importantly he said, that the rate of tax credit should be stepped up, "when the public finances allow" and also stated that doing so would not place any increased burden on tax payers.
David Cameron, pointed out that, "James Dyson's report represents an exciting and ambitious step forward in our desire to make Britain Europe's leading generator of new technology. Dyson is one of Britain's biggest success stories and Sir James Dyson knows better than any bureaucrat how you start a business, build it up and start selling to the world - and he's put that knowledge into this blueprint for creating a generation of innovation and enterprise."
The latest news closes with the fact that while Mr Fitzpatrick as received a letter restating a pre-election promise from the Conservatives, "I am still awaiting replies on the subject of tax breaks, from Jeremy Hunt, Secretary of State at the Department for Culture, Media & Sport and Vince Cable, Secretary of State for Business, Innovation & Skills – and am writing today to chase up these replies."
In short, when the last talented but governmentally hobbled UK developer leaves to go to Canada, can we have their posters please?
Via: Tiga
Sounds good and positive, yes? Apparently the Chancellor told the MSP, "The UK’s R&D tax credit schemes provide an internationally competitive tax regime for R&D activity, providing nearly £800 million of relief and supporting around 7,500 innovative companies each year, including companies in the video games industry.
"To ensure the continued effectiveness of the schemes, the Government will consult with business in autumn 2010 to review the taxation of intellectual property, the support R&D tax credits provide for innovation and the proposals of the Dyson review. We would welcome any representations on the schemes as part of this process."
Excellent. But hold on, back in March, Channel 4 reported that, "The Tories have pledged to retain tax credits for research and development as a policy review led by Sir James Dyson declared them an 'excellent' measure."
James Dyson of vacuum and out-sourcing fame provided the Tories with the report, he said at the time: "Tax credits can be an excellent way of supporting companies willing to risk their own capital in R&D," he said, calling the present system 'well intentioned but not well targeted'.
"A Conservative government should refocus R&D tax credits on hi-tech companies, small businesses and new start-ups in order to stimulate a new wave of technology."
More importantly he said, that the rate of tax credit should be stepped up, "when the public finances allow" and also stated that doing so would not place any increased burden on tax payers.
David Cameron, pointed out that, "James Dyson's report represents an exciting and ambitious step forward in our desire to make Britain Europe's leading generator of new technology. Dyson is one of Britain's biggest success stories and Sir James Dyson knows better than any bureaucrat how you start a business, build it up and start selling to the world - and he's put that knowledge into this blueprint for creating a generation of innovation and enterprise."
The latest news closes with the fact that while Mr Fitzpatrick as received a letter restating a pre-election promise from the Conservatives, "I am still awaiting replies on the subject of tax breaks, from Jeremy Hunt, Secretary of State at the Department for Culture, Media & Sport and Vince Cable, Secretary of State for Business, Innovation & Skills – and am writing today to chase up these replies."
In short, when the last talented but governmentally hobbled UK developer leaves to go to Canada, can we have their posters please?
Via: Tiga
Companies:
TIGA
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