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George Osborne has scrapped Labour’s proposal to aid the gaming industry, stating that the new government will not offer tax breaks for game production companies in today’s emergency budget.
Osborne described Labour’s proposal of extending the 20 per cent tax break enjoyed by the film industry to the video games development sector as “poorly targeted”.
The subsidies that the previous government was set to offer games developers were never implemented and will no longer be offered.
However, ELSPA has reacted to this news with disappointment.
“We are extremely disappointed by the outcome of today’s Budget. Our industry will be rightly puzzled as to how tax breaks can be lauded before an election, only to be seen as ‘poorly targeted’ and scrapped just six weeks later,” said Rawlinson.
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