Overview

• The British Horseracing Authority has launched a public petition calling on the government to reverse plans to raise remote horse racing betting duty from 15 percent to 21 percent.
• Independent Development Economics modelling commissioned by the BHA predicts a £330 million revenue shortfall for British racing over the next five years and 2,752 jobs at risk in the first year.
• In Yorkshire alone the analysis foresees a £37 million income loss and 342 job cuts within 12 months if the tax harmonisation goes ahead.
• The Treasury’s consultation on aligning online betting duties closed on July 21 and ministers will review responses ahead of setting final rates in the autumn budget.
• Horse racing contributes £4.1 billion to the UK economy, supports around 85,000 jobs and attracts five million live spectators annually, raising concerns that higher duty could drive punters to unregulated operators.