Speaking today at the London Games Conference, Shadow Culture Minister Ed Vaizey outlined far-reaching proposals to back one of the UK’s high-tech success stories, the video games sector.

He announced that the Conservatives will:

• Look at extending the remit of the Film Council to cover the video games sector to give video games the national voice they need and deserve.
• Recognise that high technology companies in the UK face specific challenges when it comes to raising finance and attracting venture capital.
• Give the sector the support it needs to succeed and expand in the global economy.
• Stimulate investment in superfast broadband, vital to the future growth of the sector, through the telecoms regulatory structure.

Ed Vaizey said: “NESTA’s research suggests the UK video games sector could shrink by 16.5 per cent over five years, resulting in the loss of more than £180m in external investment and nearly 1,700 jobs. As in so many other areas, Labour ministers simply do not seem to care that we are falling behind our competitors in a critically important economic growth area.

“Gordon Brown’s economic mismanagement means the UK government simply has not had the fiscal headroom to offer the kind of support that has been available in some other countries. But just because they cannot offer tax breaks, does not excuse them actively doing down the industry.

“I would love nothing more than to work with you to facilitate the investment and risk-taking the industry needs. We are campaigning at a time when Britain is broke, but this creates an opportunity to shape policies that assist the high tech entrepreneurs that will drive our economy in the future. The video games sector must play a key part in this.”