Prospects for board uncertain as levy replacement looms
In six months' time the levy system will have been replaced, if the government's promises are to be believed, and the future of the Horserace Betting Levy Board set up in 1961 to administer it remains uncertain.
At the moment the Levy Board approves the annual levy scheme, collects the levy from betting operators and then applies the funds to the improvement of breeds of horses; the advancement or encouragement of veterinary science or veterinary education and the improvement of horseracing.
When the government announced in March the levy system was to be replaced it was proposed it would set the rate and a new 'racing authority' would make decisions on spending.
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