Audible at five miles, painful at three and lethal at one
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Osborne cuts tax relief for the UK games industry
THE UK COALITION GOVERNMENT has slashed the British gaming industry's proposed tax breaks.
The previous Labour Government had initially drawn up plans to offer the games industry a 20 per cent tax break for production companies similar to the favourable taxation treatment the UK offers the films industry.
However, Chancellor George Osborne shattered the dreams of the UK's games companies in just one brief sentence of his emergency budget speech. He said, "We will not go ahead with the poorly-targeted tax relief for the video games industry."
Why it was deemed poorly targeted when other UK entertainment industries are offered exactly the same tax incentive is anyone's guess.
What's galling for the games industry is the fact that the previous Labour government went out of its way to treat it fairly. Now Osborne's reversal seems like a sandy kick in the face.
The Entertainment and Leisure Software Publishers Association (ELSPA), which lobbies on behalf if the UK games industry, summed up what everyone and his dog are thinking.
ELSPA director general, Michael Rawlinson, said in a statement, "Bearing in mind the pre election commitment towards tax breaks made by the Conservatives and the Liberal Democrats we are extremely disappointed by the outcome of today's Budget. Our industry will be rightly puzzled as to how tax breaks can be lauded before an election, only to be seen as 'poorly targeted' and scrapped just 6 weeks later." µ
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I what way did labour support the games industry? I mean they had over a decade of good economic times during which they could have easily implemented tax breaks and didnt. Then guess what just before the election they say they will introduce them., even though the countries accounts were in a mess.
Personally i think this is short sighted of the tories however they are in a very different position than the majority of the previous administration in that huge cuts have to be made and obviouslt some will hurt
But saying labour supported the industry and the conservatives havent is utter hogwash. The position is basiclly the same. Ignore the industry and simply misunderstand how important it is to the future of UK creative output.
typical hypocrisy from one of the lying breed of humans - also known as politicians
it doesnt matter which party you vote for - they are all the same breed with the same inherent deceit