RESEARCH AND DEVELOPMENT TAX CREDITS FOR THE VIDEO GAMES INDUSTRY

That this House welcomes the reforms to the Research and Development (RD) tax credits announced in theBudget; further welcomes the research and analysis by TIGA, the UK video games trade association, in its publication, prior to the Budget, Powering a high technology recovery: Improving RD Tax, which called for the level of RD tax credits to rise from 175 per cent. of qualifying expenditure to at least 200 per cent.; notes that these changes will be of significant value to the video games industry; calls on the Government to extend the scope of RD tax credits to include costs incurred in development including premises costs and the cost of applying for intellectual property protection and design; and further calls on the Government to ensure it pursues a policy of supporting the video games industry to increase employment in this highly-skilled, export-orientated, low carbon industry.