The number of jobs available with foreign-owned companies could increase following government proposals for reforming UK tax treatment of these organisations.

It has highlighted the importance of drawing in these firms and protecting the UK tax base.

Stephen Timms, financial secretary to the Treasury, claimed that modernising these rules is essential to drawing in global companies, such as those that could hire IT contractors.

He stated: "This report, drawing on our discussions with businesses, is a key step in designing a system that better recognises the way multinationals operate today, while protecting our tax base."

Mr Timms claimed that this is the second part of a foreign profits package that was introduced in the Finance Act 2009.

Codemasters non-executive chairman Chris Deering recently highlighted the importance of the game industry, emphasising the innovation and practical approach of the industry, and called for the government to do more to support British firms in this sector.