TIGA, the trade association representing the UK games industry, today welcomed the publication of a new report, Rebalancing Act, published by the National Endowment for Science, Technology and the Arts (NESTA), which suggests that promoting high technology and innovation is the route to sustainable and healthy economic growth.Richard Wilson, TIGA CEO stated:
“This report confirms that the UK Government needs to create an environment in which innovation can flourish and which supports high potential, high technology sectors in order to stimulate strong, sustainable economic growth. Governments in the UK and in the devolved countries need to promote generic policies including knowledge creation and transfer, enterprise, competitive markets, improved access to finance and strengthening the skills of the workforce. Governments must also adopt sector specific strategies for growth. In the case of the UK games industry, the most effective way to drive innovation and growth is through the introduction of Games Tax Relief. This will have the effect of improving access to finance, stimulate the creation of new intellectual property and business models and ensure a decisive increase in investment and employment in the sector.”
Jason Kingsley, TIGA Chairman and CEO and Creative Director of Rebellion, said:
“An economic and business strategy characterized by a ‘one size fits all’ approach will not enable the UK to fulfill its potential. Particular sectors have specific requirements. The UK video games industry is high tech, highly skilled, R&D intensive and low carbon in output. Yet it cannot achieve its natural potential or make a full contribution to UK economic growth while all our key competitors benefit from tax breaks for games production and our own games industry does not. The UK Coalition Government must introduce Games Tax Relief in the Budget on June 22nd 2010 to put our games industry on a level playing field and to benefit the wider UK economy.”