Mr. Osborne is currently making an announcement regarding the Conservatives first budget for the country, and cited that the previous tax cut plans were "poorly planned".
This is bad news for UK games studios, who were hoping to finally be getting some official government support.
Still, the Conservatives have still pledged their support to the industry, so perhaps we'll see a different plan come from Parliament.
Conservatives scrap "poorly planned" UK Industry Tax Cuts
22 June 2010 | By Joe Robinson