As you probably saw, the Chancellor has awarded the games industry its much deserved tax break. Following Wednesday’s budget, game developers that create profitable games will be able to use the relief to pay less tax on profits, while unsuccessful games will be awarded a cash tax credit to reduce losses – which must be a nice surprise for all you developers out there.
According to TIGA, the games tax relief will increase investment and innovation in the UK videogames sector, and create around 3,500 more jobs over the next five years.
This is really good news, but while I’m sure we have enough talent out there to help the industry grow, my only concern is whether we have the necessary skills at the moment. A report from Skillset last week showed a worrying skills gap in the creative media industries, particularly in digital technology.
Getting this tax break is fantastic – but we’re only half way there. What we must do is nurture our talent, giving them the training and skills they need to help the UK’s gaming industry compete globally.
From my point of view, more vocational courses and closer relationships with higher and further educational institutes is key to helping develop the creative talent the UK has out there. What do you think?