News: TIGA: Games Tax Relief report "yielded real benefits"
Industry trade body TIGA has spoken out following the Government’s rejection of its proposal for tax relief for the UK industry, saying the decision was a foregone conclusion but that real benefits have still resulted.
“Some observers have suggested that our proposal was rejected because the econometrics underpinning it was insufficiently robust,” said TIGA CEO Richard Wilson. “Some at HM Treasury doubted our assumptions that absent Tax Relief job losses in the video industry would be permanently lost to the UK economy, believing instead that workers lost to the industry would simply move to other equally high-technology industries.
“It would be naive to accept this point at face value. This is a standard Treasury line. It ignores the evidence produced by the National Endowment for Science, Technology and the Arts (NESTA) about the threat of a brain drain from the UK industry to competitor countries.”
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