British trade association TIGA has given its own response to the Government's recent growth review, following yesterday's comments from trade body UKIE.
TIGA has once again urged the Government to introduce a games tax relief, as well as enhanced research and development tax credits, and a lottery-financed prototype fund for game development. Like UKIE, amendments to rules regarding venture capital trusts and enterprise investment schemes are also encouraged.
The organisation has called for more investment in higher education, incentives to study STEM (science, technology, engineering, and mathematics) subjects at university, and a general increase in the proportion of GDP spent on higher education. A more flexible migration policy and tax relief on training is also on TIGA's list of suggestions.
Additionally it wants the Government to expand knowledge transfer partnerships between universities and games companies, to promote industrial secondments, and to be more ambitious in plans for a superfast broadband network in the UK.
"For too long the Coalition Government has acted like a one club golfer: it has had a strategy for reducing the deficit but little to say about growth. The Government's growth review is long overdue - not least because strong economic growth is crucial to reducing the deficit," said TIGA CEO Dr Richard Wilson.
"The UK Coalition Government should look again at the case for TIGA's games tax relief. TIGA's research shows that over a five year period games tax relief would protect or create 3,550 graduate level jobs, secure £457 million in investment and enhance innovation in the sector," added Wilson.
"Games Tax Relief would more than pay for itself, generating £415 million in tax receipts for HM Treasury. If Games Tax Relief is not introduced, the economic prize of increased investment and new jobs in the games sector will be jeopardised," he continued.