UKIE, the Association for UK Interactive Entertainment, has said that it “welcomes” the UK government’s decisions related to R&D credits in today’s newly-announced budget.
In a statement released to the press, UKIE boss Michael Rawlinson said that the group “welcomes the government’s focus on growth, particularly around supporting small businesses and encouraging external investment in the UK.”
However, Rawlinson added that he finds it “disappointing” that tax breaks for the game industry were not introduced. Tax breaks for the games industry were introduced by Alistair Darling in his 2010 budget and then promptly dumped by George Osborne when the Tory-Lib Dem coalition came to power.
UKIE said, though, that it’s “delighted to see increases to the R&D tax credit rate to 200% from April, and then to 225% in 2012.”
The group said it’ll now be speaking to the government and “playing a key role in ensuring that its members and the wider interactive entertainment industry can maximise the benefits that they receive from these and other measures introduced in this year’s budget and Growth Review.”