How the UK Video Games Industry Can Survive, Revive and Thrive Outside of the EU

How the UK Video Games Industry Can Survive, Revive and Thrive Outside of the EU

LONDON, July 18, 2016 /PRNewswire/ --

    TIGA, the trade association representing the video games industry, today published
Brexit: Priorities for the UK Video Games Industry. The 20 page reports sets out a policy
agenda for Government, Parliament and policy makers to consider as the UK begins the
process of leaving the EU.

(Photo:
http://photos.prnewswire.com/prnh/20160715/390106 )

    Dr Richard Wilson, TIGA CEO, said: 

    "We must all strive to ensure that the UK survives, revives and thrives outside of the
EU. The high technology and creative industries, including the video games sector, can
power ahead in a post-BREXIT world - provided that Government takes the right policy
decisions and businesses rise to the challenge.

    "TIGA's Report sets out a practical, pragmatic and positive agenda for ensuring the UK
games sector is a leading player in an industry that is predicted to be worth almost $100
billion by 2018. If the UK creates a favourable tax environment with an enhanced Games Tax
Relief and R&D Tax Credit, increases availability of finance and improves access to talent,
then the UK video games industry has everything to play for."

    The UK video games industry already contributes GBP1.1 billion to UK GDP. This will
increase with the right policy environment in place.

    A Summary of Brexit: Priorities for the UK Video Games Industry

    1. The UK needs a favourable tax environment to encourage businesses to invest in the
UK. The Government should consider:

       
        - reducing the rate of corporation tax to 17 per cent in 2017;
        - enhancing Video Games Tax Relief and the R&D Tax Relief.

    2. Access to finance: The UK Government should:

       
        - introduce a Video Games Investment Fund to enable more studios to grow; and
        - increase the amount of money that a company can raise via SEIS investment from
          GBP150,000 to GBP200,000.

    3. Access to talent: The UK Government should:

       
        - ensure that EU workers already working in the UK are protected so that they can
          continue to work in the UK with the confidence that they are not going to be asked to
          leave the UK in the future.

    4. Exports, trade agreements and tariffs: The UK Government should:

       
        - negotiate a trade deal with the EU that to the greatest possible extent avoids
          quotas, tariffs and other barriers to trade.

    5. VAT: The UK Government should:

       
        - negotiate an EU wide measure to exempt small businesses from EU VAT regulations.

    6. Intellectual Property: The UK Government should:

       
        - consider introducing arrangements for the conversion or extension of a EU
          trademark or registered community design to cover the UK.

    7. Data Protection: The UK Government should consider:

       
        - adopting the General Data Protection Regulation to ensure that companies based in
          the UK and doing business in the EU can continue to smoothly transfer information and
          data.

    8. Higher Education: The UK Government should:

       
        - make up any short-fall in funding following the UK's departure from the EU.

    9. Fiscal policy: The UK Government should consider:

       
        - increasing investment in infrastructure to cushion the UK from the shock of
          Brexit.

    10. Skills and Training: The UK Government could consider:

       
        - extending the life of the Skills Investment Fund to maximise investment in skills
          in the creative industries.

    Notes to editors:

    About TIGA

    TIGA is the network for games developers and digital publishers and the trade
association representing the video games industry.

       
         
        Get in touch:

         
        Web: http://www.tiga.org 
        Twitter: http://www.twitter.com/tigamovement 
        Facebook: http://www.facebook.com/TIGAMovement 
        LinkedIn: http://www.linkedin.com/company/tiga  

         

     

    Photo:
    http://photos.prnewswire.com/prnh/20160715/390106

Photo:http://photos.prnewswire.com/prnh/20160715/390106
http://photoarchive.ap.org/
Photo:http://photos.prnewswire.com/prnh/20160715/390106
http://photoarchive.ap.org/
TIGA

CONTACT: For a copy of the report, please contact: suzi@tiga.org; For further information, you can also contact:  Dr Richard Wilson, TIGA CEO by email: richard.wilson@tiga.org, Tel: +44-0845-468-2330, Email: info@tiga.org