On 17 October 2022, Diedre Brock MP submitted a series of written questions to the Government on Video Games Tax Relief and a Video Games Investment Fund.

First, Ms Brock submitted: “To ask the Chancellor of the Exchequer, what recent assessment his Department has made of the implications for his policies of the Irish government’s decision to set video games tax relief at 32 per cent.”

TIGA reports that Felicity Buchan, Exchequer Secretary (HM Treasury) responded: “The Government recognises the valuable economic and cultural contribution of the video games industry. The Video Games Tax Relief (VGTR) has supported £5.1 billion of UK expenditure on 1,940 games since its introduction in 2014.

“At Spending Review 2021 the government confirmed £8 million for the continuation of the UK Games Fund which provides bespoke support for the UK’s independent video game industry.

“The Government regularly receives proposals for changes to tax reliefs. When considering changes, the Government must ensure they provide support to businesses in a fair way and that taxpayer money is effectively targeted. An uplift in the rate of VGTR is not currently under consideration. However, the Government keeps all tax reliefs under review”.

Ms Brock received the same response from Ms Buchan in relation to the following written question: “To ask the Chancellor of the Exchequer, whether it is his policy to increase the rate of video games tax relief to the level proposed by the Independent Game Developers’ Association.”

Finally, Ms Brock submitted the following: “To ask the Secretary of State for Digital, Culture, Media and Sport, if she will make an assessment of the potential merits of the proposal by the Independent Game Developers’ Association to introduce a video games investment fund.”

Julia Lopez MP responded: “The Government is committed to supporting the growth of the UK’s games sector. As part of a wider package to support the growth of the creative industries, the government is delivering an £8 million expansion of the UK Games Fund. The UK Games Fund will provide valuable support to early stage games development businesses and talented graduates throughout the UK. In addition, the Video Games Tax Relief continues to make the UK one of the leading destinations in the world for making video games.

“We are not seeking to take forward a proposal for a new Video Games Investment Fund. We welcome continued discussions with the games industry on how best to support a thriving UK games sector.”

To read TIGA’s report in full, click here.