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More EU countries could follow UK tax breaks plan

More EU countries could follow UK tax breaks plan

Thu 22 Mar 2012 7:39am GMT / 3:39am EDT / 12:39am PDT
PoliticsDevelopment

Quantic Dream CEO says UK "was facing tangible risk of collapsing"

The UK games development scene faced a very real danger of collapsing and taking Europe with it, according to Quantic Dream CEO Guillaume de Fondaumière.

However, de Fondaumière, who is also chairman of the European Game Developers Federation, now believes that yesterday's proposed tax breaks for the region will provoke other EU countries to implement similar measures, strengthening the European games economy.

"Representing roughly 40 per cent of Europe's development sector, the UK is Europe's main hub for video game creation," said de Fondaumière.

"If you consider the pace at which studios were closing down and talents relocating outside of Europe in the past few years, I think it is not exaggerated to say the UK games sector was facing a tangible risk of collapsing."

"This would have provoked in turn the fall down of the entire European development sector. With this in mind, I think today is indeed an important day not only for the UK, but for Europe as whole."

The introduction first needs sign-off from the EU, which is likely to happen in April, and come into force in the 2013-14 period.

"Provided the DG competition confirms games can indeed continue to benefit from such sector specific measures - a decision that we now expect early April - the UK would be the second country in Europe to implement tax breaks for video games after France.

"I'm convinced that other EU countries will now follow the move, creating a true dynamic that will propel Europe back."

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