Proceeding contribution from Lord Vaizey of Didcot (Conservative) in the House of Commons on Monday, 26 March 2012. It occurred during Budget debate on Amendment of the Law.
Budget Resolutions and Economic Situation
They cannot make their minds up. On the one hand, the success of the UK's creative industries is drivel; on the other, the success of Adele and her biggest-selling digital album in history is down to the Labour party. I would not claim that, but I would claim instead that we are putting in place the infrastructure for broadband investment to support high-tech innovation in this country. Through a series of initiatives, such as catapult centres, investment from the Technology Strategy Board, research and development tax credits and the patent box tax credit, we continue to support investment in our technology industries. Specifically through our tax break for video games, animation and high-end television production, we will support our creative industries and spur them on to greater success. I have already heard from some of the UK's most successful animation companies. They are now planning to increase investment in their businesses, recruit more staff and make more programmes here in the UK. [Interruption.] Mr Deputy Speaker, there is a Labour Member standing next to you shouting at me. Could you encourage him to make a formal intervention at some point? American studios are lining up to work with our talented production staff and amazing studios. British developers will be able to take advantage of the 8% growth in the worldwide video games industry.
Secondary information
- Type
- Proceeding contribution
- Reference
- 542 c1192-3
- Session
- 2010-12
- Chamber / Committee
- House of Commons chamber
- Subjects
- Capital investment Budgets Culture Broadband ICT Innovation Intellectual property Welfare tax credits State retirement pensions Research Tax rates and bands Cuts Budget March 2012 High income child benefit tax charge
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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