UKIE calls on government to modernise Video Games Expenditure Credit ahead of Autumn Budget
The UK Interactive Entertainment Association (UKIE) is calling on the government to modernize the Video Games Expenditure Credit (VGEC) ahead of this week’s Autumn Budget. The trade body argues that reforming the credit is essential for the UK to remain a competitive place to build and grow games businesses.
In addition to modernizing VGEC, UKIE is pushing for the establishment of a new fund to address a critical gap in domestic growth capital—specifically targeting businesses seeking £500,000 to £2 million in funding. The association is also advocating for tax incentive measures designed to prevent UK-based studios and talent from relocating to countries offering more favorable tax credits.
According to UKIE’s CEO, these reforms are crucial for helping British games businesses compete effectively and attract investment on a global scale. The association has been engaged in sustained discussions with government officials and has worked closely with its members and industry partners to build evidence supporting these policy changes.
The timing of UKIE’s push is strategic, coinciding with the government’s Autumn Budget announcement, a key opportunity to influence fiscal policy affecting the games industry. The call reflects broader concerns within the UK gaming sector about maintaining competitive advantage amid international competition for studio locations and talent retention.