Question to the Department for Digital, Culture, Media & Sport:

To ask the Secretary of State for Culture, Media and Sport, if she will take steps with the Secretary of State for Business and Trade on improving access to finance for the video games industry.

The Government is committed to making the UK the best place in the world to produce video games. We recognise the high growth potential of the sector, and are committed to improving its access to finance.

This is why, as part of the Creative Industries Sector Plan, we have committed £30 million over the next three years for the Games Growth Package, which includes a significant expansion of the UK Games Fund which will continue to provide grants to early-stage studios across the UK to develop prototypes and new intellectual property, and run development programmes for new graduates.

The tax reliefs offered to video games companies continue to make the UK one of the best places in the world to make video games. Our Video Games Expenditure Credit ensures that this highly skilled and innovative industry is able to thrive and the government will continue to work with stakeholders to ensure its continued effectiveness.

Also outlined in the Creative Industries Sector Plan was a significant increase in support from the British Business Bank (BBB) and UK Research and Innovation (UKRI). The BBB is committing an additional £4 billion of Industrial Strategy Growth Capital to support investment and growth in the eight priority Industrial Strategy sectors, including the creative industries, while UKRI will lead efforts to significantly increase public funding for the creative sectors, including support for commercialisation and tech adoption.