The British Horseracing Authority (BHA) has officially called for gambling on racing to be taxed differently to that imposed on gaming by tabling its response to UK Treasury on the issue.
The peak body for thoroughbred racing in the UK says economic analysis of plans to hike betting on racing, placing it on equal footing with games of chance such as slot machines, could rip up to $66 million and as much as £160 million (A$X) a year out of the industry.
The BHA has urged decision makers to enact a carve out for racing when it undertakes Levy reform.
“British racing’s stakeholders are united in their opposition to the Treasury’s proposals to harmonise remote gambling duties,” the BHA’s acting chief executive Brant Dunshea said.
“Horseracing has a uniquely symbiotic relationship with betting and the Government must recognise this. It is why we are calling for betting on racing to be taxed at a different and lower rate to all other forms of betting.
“Thousands of jobs and livelihoods in towns and rural areas across the country are supported by the financial contributions of the betting industry through Levy, media rights and sponsorship.
“If the Chancellor delivers this tax bombshell at the autumn Budget, not only will jobs be lost but the future of Britain’s second-largest spectator sport will be in jeopardy.”
