Tag Archives: peter mandelson
Wed, Mar 11, 2009 | 13:58 GMT
Tiga boss Richard Wilson has written an open letter to the British secretary of state for business, Peter Mandelson, claiming a continuing lack of tax breaks for the UK development industry will cost 1,700 jobs over the next five years.
Not only that, but anticipated decline in the British trade thanks to tax-pretty locations such as Montreal and France attracting British talent would cost the UK treasury £145 million in 2013 alone, compared to the £150 million Wilson claims it will cost to offer a 20 percent break on development in the UK.
“If we want the UK games industry to remain world leading then we must introduce a tax break for games production similar to the European Union approved French tax credit,” said Wilson.
“Industry research indicates that if a 20% production tax credit was introduced, investment would increase by £220 million over five years, generating a further 1,600 graduate jobs over the same period. This tax break would cost HM Treasury £150 million over five years.”
Read the full thing after the break.