The future of British horse racing is under serious threat unless the government urgently reconsiders proposed tax changes and new gambling regulations, a cross-party group of MPs and peers has warned.
In a new report published Sunday night, the All-Party Parliamentary Group (APPG) for Racing and Bloodstock said the combined impact of proposed tax reforms, stricter affordability checks, and an outdated funding model could deal lasting damage to one of the UK’s most prominent sporting industries.
The warning comes as the Treasury continues its consultation on replacing the UK’s complex three-tier betting tax system with a single Remote Betting and Gaming Duty. The consultation, launched in April, closes on 21 July.
At stake, the APPG argues, is the health of an industry that contributes over £4 billion annually to the UK economy, sustains more than 85,000 jobs, and is second only to football in terms of spectator popularity.
The report, produced with input from racing stakeholders and led by the British Horseracing Authority (BHA) as secretariat, raises alarm over the potential consequences of consolidating the current betting tax system.
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