MCV/DEVELOP News, events, research and jobs from the games industry
Culture Minister Ed Vaizey has updated the industry on figures surrounding the long-awaited tax breaks.
Finally introduced in April last year, the video games tax relief enables studios to recoup some of the costs of development through help from the government.
Speaking at Develop: Brighton this morning, Vaizey revealed a few statistics from the first year of the relief’s availability.
"In the full first year that games tax breaks have been around, 67 games have been certified to qualify for tax relief, representing a total budget of over £180m – and all of that money will be spent in the UK or Europe," he told attendees. "And we’ve had a host of new applications flooding in over the last few months."
He also promised that the £4m prototype fund, announced in the Budget earlier this year, will be launched very soon.
Vaizey continued to champion the games industry as a driver of economic growth and creator of much needed jobs, but said "there’s still more to be done in terms of tackling diversity" in the industry workforce.
