UK Government 'Reconsidering' Video Game Tax Breaks? No.
Rewords current tax plans to make it seem like it's doing more than it is.
Just when we thought it was all going so well. The Sunday Times is reporting that the UK government is "reconsidering" tax breaks for the games industry. Except, it actually isn't.
According to the paper, chancellor George Osborne is "considering the introduction of tax breaks for the computer game industry as an eye-catching measure to put in his budget for growth." Some £30 million of tax relief is thought to be set aside for British studios.
The only issue is, this is the exactly the same budget the government had planned for the sector over the course of five years. If you remember, some £194 million was pledged to help support the industry (just not necessarily tax breaks). Divide that number by five and you have just over £30 million.
So in actuality this whole affair appears to be nothing more than a press stunt to make the government's current plans appear more attractive to an industry that truly needs the relief. However, it is said that Osborne is a little more positive about the games sector after engaging in a secret meeting with industry leaders, so all may not be lost yet.
According to the paper, chancellor George Osborne is "considering the introduction of tax breaks for the computer game industry as an eye-catching measure to put in his budget for growth." Some £30 million of tax relief is thought to be set aside for British studios.
The only issue is, this is the exactly the same budget the government had planned for the sector over the course of five years. If you remember, some £194 million was pledged to help support the industry (just not necessarily tax breaks). Divide that number by five and you have just over £30 million.
So in actuality this whole affair appears to be nothing more than a press stunt to make the government's current plans appear more attractive to an industry that truly needs the relief. However, it is said that Osborne is a little more positive about the games sector after engaging in a secret meeting with industry leaders, so all may not be lost yet.