BGC Decries Tax Overhaul
BCG CEO Grainne Hurst condemned the proposed RBGD as "utterly self-defeating," warning that harmonizing General Betting Duty with Remote Gaming Duty rates would cripple racing finances. "It will also likely force businesses to push investment and jobs overseas," she told Racing Post.
Hurst emphasized that higher operational costs could drive consumer prices, pushing gamblers towards unregulated offshore platforms that lack tax contributions or player safeguards. She warned that the change isn't reform but a blueprint for market contraction.
BCG noted the sector remains vulnerable after spending over £1 billion on 2023's gambling white paper reforms. It argued that further tax hikes would not boost treasury revenue but instead accelerate a "lose-lose scenario" of reduced domestic employment and increased black market activity.
Racing Sector Braces for Impact
BHA Communications Director Greg Swift reinforced industry frustrations, stating, "We remain concerned about the prospect of tax harmonization in gambling and believe that there could be significant unintended consequences for both racing's finances and its workforce if government moves to a single duty." His remarks underscore fears that consolidation could jeopardize price funds, race events, and jobs for over 85,000 workers.
The proposed tax hike adds to the sector's anxieties amid existing pressures like affordability checks, advertisement restrictions, and shrinking margins. Swift confirmed that the BHA will "build a string argument", ensuring policymakers grasp the reform's risk to racing.
Consultation Window Remains Open
The Treasury is open to feedback until July 21st. Exchequer Secretary James Murray stated, "The time has come to consider moving to a single tax for UK-facing remote gambling," stressing administrative streamlining. Land-based establishments accepting in-person bets will remain unaffected. Stakeholders now race to plead their case before the deadline.
