TIGA, the trade association representing the UK games industry, today welcomed the CBI’s new report, ‘Creating Growth: A Blueprint for the Creative Industries’. The CBI believes the UK’s creative sector, which is the biggest in Europe, can play a crucial role in rebalancing the economy and delivering high growth. For that to happen, the CBI says the Government must deliver the right conditions for the sector to thrive and create new jobs.
The CBI says Government action should focus on the following areas:
On competition policy, we need a modern, forward-looking regime that reflects the new digital environment.
On skills, government policy should include what is needed by creative businesses and ensure these are being delivered by the education system.
On intellectual property, the Government must provide certainty about the IP regime so companies can derive value from their rights. It must also be active in international forums, since IP is a global issue.
On tax, we need a competitive framework that promotes start-ups, innovative and high-growth businesses. Given that many creative businesses are highly mobile, we need policies to ensure talent does not go elsewhere.
On the finance front, it can be difficult for creative firms to access the capital they need to get their products off the ground, especially when they can come with unproven revenue streams. The Government must work to ensure that access to finance does not become a barrier to growth for creative industries.
On infrastructure, there needs to be a policy framework that will encourage market-led investment in quality, high-speed internet.
To view a copy of ‘Creating Growth: A Blueprint for the Creative Industries’, please follow this link:
Dr Richard Wilson, CEO of TIGA, said:
“It is good to see the CBI expressing support and interest for the creative industries. TIGA hopes that other business representative bodies, including the Institute of Directors, the British Chambers of Commerce, the Federation of Small Businesses and the Forum of Private Business, will also take a keen interest in the creative industries.
“The CBI recognises that we need a competitive tax framework to enable the creative industries in general and the video games sector in particular to flourish. At present, we lack such a framework. Our tax system fails to support the video games industry. Our key competitors benefit from generous tax breaks for games production. We do not. The UK Government must address this issue.”