Chancellor offers tax breaks for games industry

George Osborne

Chancellor George Osborne has announced long-awaited tax breaks for the games industry in today's budget.

The news comes on the same day that retailer Game announced it was preparing to appoint an administrator.

Osborne plans to introduce corporation tax relief from April 2013 for the video games, animation and television industries.

Richard Wilson, chief executive of video games industry trade body Tiga, welcomed the news.

"This is a brilliant decision by the Government and terrific news for the UK video games industry. It is also a decisive victory won by Tiga through audacity, determination and endurance," he said.

The Chancellor said he wanted to make the UK the technology centre of Europe.

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Andy Clough

Andy is Global Brand Director of What Hi-Fi? and has been a technology journalist for 30 years. During that time he has covered everything from VHS and Betamax, MiniDisc and DCC to CDi, Laserdisc and 3D TV, and any number of other formats that have come and gone. He loves nothing better than a good old format war. Andy edited several hi-fi and home cinema magazines before relaunching in 2008 and helping turn it into the global success it is today. When not listening to music or watching TV, he spends far too much of his time reading about cars he can't afford to buy.