Leading independent says at least half his shops will close after Irish tax hike

Brian Kavanagh: 'That's the sort of figure that was predicted, so it's gone well in that respect.”

HRI chief executive Brian Kavanagh, who hopes the increased betting tax will allow for more long-term funding for racingCredit: Patrick McCann (racingpost.com/photos)

Paul Tully of Tully Bookmakers expects to close at least half of the independent firm's 19 shops and lay off the same percentage of its 80 staff following the government's decision to double the rate of betting tax in Ireland to two per cent.

The tax hike, confirmed in Tuesday's Budget, is something for which Horse Racing Ireland has long lobbied.

HRI's chief executive Brian Kavanagh on Wednesday expressed the hope that the increase in betting tax will allow for a return to more secure, long-term funding for the racing industry.

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Richard ForristalIreland editor

Published on 10 October 2018inNews

Last updated 09:38, 11 October 2018

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