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Racing Tax

'It would be a bad look for any government to see the demise of British racing' - Newmarket trainers speak out against 'racing tax'

Newmarket trainers spoke out on Saturday over the threat of the 'racing tax' and warned it could jeopardise the future of a historic industry and major employer.

The Treasury is consulting on plans to harmonise different online gambling taxes into a single Remote Betting and Gaming Duty, which could result in the rate on sports and racing betting rising from 15 per cent to the 21 per cent levied on games of chance such as online casino and slots.

It has led to the launch of the 'Axe the Racing Tax' campaign to raise awareness of the potential for significant damage. BHA modelling found that raising the tax rate could cost the sport at least £66 million in lost income as bookmakers would look to mitigate the rise by investing less money in British racing. 

Stuart Williams, who was among the trainers who spoke with leader of the opposition Kemi Badenoch MP at a racing policy conference at Tattersalls in Newmarket on Friday, believes the sport needs to do more to distance itself from games of chance and to make that distinction clear to the government.

"We're a skill-based betting opportunity," said Williams. "It's difficult to get people who don't understand that all gambling isn't the same but that's what we must get across. Racing betting is not the same as casino-based games or the lottery, which everybody seems happy to take place without restrictions.

Stuart Williams reached the 1,000 winners milestone at Windsor on Monday
Former NTF president Stuart Williams has spoken out against the 'racing tax'Credit: Edward Whitaker

"This could have huge consequences for racing and the way it is funded. Racing is an expensive product for bookmakers. If we could get to a position whereby through the tax regime it became less expensive for operators, surely they would then promote it even more than they do at the moment."

Williams also spoke of the sport's cultural significance, and added: "In this country, it doesn't get much more historic. The history and pageantry of it all is amazing but it could all be in jeopardy soon if we're not careful. It would be a bad look for any government to see the demise of British racing."

Fellow Newmarket trainer Michael Bell was also at the meeting with Badenoch, and he said: "It's positive when any politicians are willing to engage, because racing could be in dire straits if we cannot get the government on side in supporting us on this, especially alongside affordability checks.

"Traditionally Labour has been a friend to racing and it's under pressure to fill the black hole. We've got to hope the government looks kindly upon us and doesn't just think this tax will solve its problems. It will just create more because the racing industry, which is a huge benefit to the economy, will suffer."

Bell said the sport should be "cherished rather than squeezed" given its cultural importance, contribution to the economy as Britain's second-most attended sport and its influence on rural communities as a significant source of employment. 

"If the tax rate rises to 21 per cent, there will be more squeeze on bookmakers and the levy will also be seriously affected," added Bell. "The whole thing could spiral out of control and have grave consequences for the industry – we've got to avoid getting into a doom-loop."

Williams and Bell were echoing the views of six-time champion trainer John Gosden, who this week said it is incumbent on everyone in the sport to lobby their MP about the potential "devastation" facing the racing and breeding industries, which he described as being at a "crossroads".


Read more:

Betting tax increase would push British racing into serious decline and punters to the black market warns BHA 

John Gosden calls on sport to lobby MPs over racing tax proposals to avoid 'devastation' for the industry 

BHA issues urgent call to arms to 'axe the racing tax' over fears of £66 million hit to the sport's finances 


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