Chancellor Philip Hammond announced the Budget today, There was a big focus on tech and innovation but the biggest cheer of the afternoon was support to tackle the housing crisis.
Chancellor George Osborne announced the Budget today, setting out the government's tax and spending plans for the next year and beyond.
The Budget introduces a number of general measures which will have the effect of boosting small- and micro- studios and developers. As our Blueprint for Growth noted, some 95% of games companies are SMEs. The most eye-catching proposals are cuts to business rates and stamp duty for lower-value properties, as well as some targeted support for the digital economy.
Responding to the announcements, Ukie CEO Dr Jo Twist said:
Games in Scotland: your views to Parliament
We have submitted evidence to an inquiry by the Scottish Affairs Committee in the UK Parliament. The Committee are examining the Creative Industries in Scotland, and asked for views on what more should be done to strengthen the sector.
What the July Budget means for the games industry
Today’s Budget was the first from the Chancellor of a majority Conservative government since 1996, and announcing a significant change in economic strategy with cuts to taxes and welfare and the introduction of a National Living Wage. You can read the full Budget speech and documents here.
New government's programme announced
Action on red tape, immigration, childcare and personal taxation has been announced today in the Queen’s Speech.
The speech, which marked the formal opening of the new Parliament and sets out the new Conservative government’s agenda for the next year, included some fundamental reforms that will affect all UK businesses, including those in the games industry.
Ukie welcomes support for games in the Budget
Today’s Budget saw George Osborne announce the revival of the Prototype Fund, with £4m provided over the next four years, as well as £4m for the Skills Investment Fund.
Completing the Digital Single Market: proposals set out by UK Government.
David Cameron’s office published "The UK Vision for the EU's Digital Economy" earlier this week. This is a set of proposals for finalising the EU Digital Single Market, which they say could create €250 billion in growth.