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2w ago

Reeves Signals Possible Gambling Tax Rise to Fund Two-Child Benefit Cap Abolition

The chancellor has kept tax increases on the table to unlock £3.2 billion for ending the two-child benefit cap following a formal review informed by IPPR research

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Chancellor doesn't rule out raising gambling taxes after report said it could lift 500,000 children out of poverty
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Overview

  • Chancellor Rachel Reeves has left open the possibility of raising gambling taxes in her autumn budget to finance the abolition of the two-child benefit cap.
  • Her ongoing formal review will consider IPPR-backed proposals to boost online casino duty to 50%, slot machine duty to 50%, and general betting duty to 25%.
  • IPPR analysis and former prime minister Gordon Brown estimate those duty hikes could raise about £3.2 billion annually, enough to lift roughly half a million children out of poverty.
  • Gordon Brown has publicly endorsed the push, describing the gambling industry’s profits as “massively undertaxed” and urging the government to act swiftly.
  • The Betting and Gaming Council has condemned the plans as “economically reckless,” warning they would hurt ordinary punters and fuel growth in the unregulated black market.