Latest news with #AxeTheRacingTax
Gulf Insider
an hour ago
- Business
- Gulf Insider
British Racing To Hold One-Day Strike In Tax Protest
British horse racing will go on strike on 10 September, taking the unprecedented action of refusing to race in protest against the Government's proposed tax rise on betting on the sport. As part of its industry-wide Axe The Racing Tax campaign, four fixtures scheduled for that day at Lingfield Park, Carlisle, Uttoxeter and Kempton Park have been rearranged by the British Horseracing Authority. It is the first time the sport has voluntarily refused to race in its modern history. The governing body is campaigning against the Treasury's proposal to introduce a single remote gambling tax, which would increase the 15% tax rate paid by bookmakers on racing and aligning it with online gaming, which is currently taxed at 21%. The BHA says this would have a 'destructive impact' on the industry with its economic analysis predicting an estimated £330m loss in revenue and putting 2,752 jobs at risk in the first year alone. A spokesperson for the Treasury told BBC Sport: 'We are consulting on bringing the treatment of online betting in line with other forms of online gambling to cut down bureaucracy – it is not about increasing or decreasing rates, and we welcome views from all stakeholders including businesses, trade bodies, the third sector and individuals.' Why is British racing going on strike? Chancellor of the exchequer Rachel Reeves's autumn budget in October is expected to bring tax rises. Brant Dunshea, chief executive at the British Horseracing Authority, said the proposals 'threaten the very future' of the sport. Race meetings in Britain take place 363 days a year, unless called off for adverse weather, equine virus outbreaks and national crises such as the Covid-19 pandemic. The strike takes place the day before the start of the four-day St Leger festival at Doncaster Racecourse. 'British Racing is already in a precarious financial position and research has shown that a tax rise on racing could be catastrophic for the sport and the thousands of jobs that rely on it in towns and communities across the country,' added Dunshea. 'This is the first time that British Racing has chosen not to race due to Government proposals. We haven't taken this decision lightly but in doing so we are urging the Government to rethink this tax proposal to protect the future of our sport which is a cherished part of Britain's heritage and culture.' Click here to read more…
Yahoo
20 hours ago
- Business
- Yahoo
British horseracing to go on strike in protest against rise in betting taxes
LONDON (AP) — British horseracing will stage an unprecedented one-day strike on Sept. 10 to protest a proposed rise in taxes on race betting. The four scheduled meetings that day — at Carlisle, Uttoxeter, Lingfield and Kempton — will not take place after agreements between the owners of the courses and the British Horseracing Authority, making it the first time the sport in Britain has voluntarily refused to race in modern history. The BHA set up the 'Axe the Racing Tax' campaign in response to proposals to replace the existing three-tax structure of online gambling duties with a single tax, with fears the current 15% duty on racing could be increased to the 21% levied on games of chance. Brant Dunshea, chief executive at the British Horseracing Authority, said the strike intends to 'highlight to (the) government the serious consequences of the treasury's tax proposals which threaten the very future of our sport.' 'British racing is already in a precarious financial position and research has shown that a tax rise on racing could be catastrophic for the sport and the thousands of jobs that rely on it in towns and communities across the country," Dunshea said. 'This is the first time that British racing has chosen not to race due to government proposals. We haven't taken this decision lightly but in doing so we are urging the government to rethink this tax proposal to protect the future of our sport which is a cherished part of Britain's heritage and culture." The British government said it was bringing the 'treatment of online betting in line with other forms of online gambling to cut down bureaucracy.' 'It is not about increasing or decreasing rates,' the government said, "and we welcome views from all stakeholders including businesses, trade bodies, the third sector and individuals.' ___ AP sports: The Associated Press
Yahoo
a day ago
- Business
- Yahoo
British horseracing to go on strike in protest against rise in betting taxes
LONDON (AP) — British horseracing will stage an unprecedented one-day strike on Sept. 10 to protest a proposed rise in taxes on race betting. The four scheduled meetings that day — at Carlisle, Uttoxeter, Lingfield and Kempton — will not take place after agreements between the owners of the courses and the British Horseracing Authority, making it the first time the sport in Britain has voluntarily refused to race in modern history. The BHA set up the 'Axe the Racing Tax' campaign in response to proposals to replace the existing three-tax structure of online gambling duties with a single tax, with fears the current 15% duty on racing could be increased to the 21% levied on games of chance. Brant Dunshea, chief executive at the British Horseracing Authority, said the strike intends to 'highlight to (the) government the serious consequences of the treasury's tax proposals which threaten the very future of our sport.' 'British racing is already in a precarious financial position and research has shown that a tax rise on racing could be catastrophic for the sport and the thousands of jobs that rely on it in towns and communities across the country," Dunshea said. 'This is the first time that British racing has chosen not to race due to government proposals. We haven't taken this decision lightly but in doing so we are urging the government to rethink this tax proposal to protect the future of our sport which is a cherished part of Britain's heritage and culture." The British government said it was bringing the 'treatment of online betting in line with other forms of online gambling to cut down bureaucracy.' 'It is not about increasing or decreasing rates,' the government said, "and we welcome views from all stakeholders including businesses, trade bodies, the third sector and individuals.' ___ AP sports:
Associated Press
a day ago
- Business
- Associated Press
British horseracing to go on strike in protest against rise in betting taxes
LONDON (AP) — British horseracing will stage an unprecedented one-day strike on Sept. 10 to protest a proposed rise in taxes on race betting. The four scheduled meetings that day — at Carlisle, Uttoxeter, Lingfield and Kempton — will not take place after agreements between the owners of the courses and the British Horseracing Authority, making it the first time the sport in Britain has voluntarily refused to race in modern history. The BHA set up the 'Axe the Racing Tax' campaign in response to proposals to replace the existing three-tax structure of online gambling duties with a single tax, with fears the current 15% duty on racing could be increased to the 21% levied on games of chance. Brant Dunshea, chief executive at the British Horseracing Authority, said the strike intends to 'highlight to (the) government the serious consequences of the treasury's tax proposals which threaten the very future of our sport.' 'British racing is already in a precarious financial position and research has shown that a tax rise on racing could be catastrophic for the sport and the thousands of jobs that rely on it in towns and communities across the country,' Dunshea said. 'This is the first time that British racing has chosen not to race due to government proposals. We haven't taken this decision lightly but in doing so we are urging the government to rethink this tax proposal to protect the future of our sport which is a cherished part of Britain's heritage and culture.' The British government said it was bringing the 'treatment of online betting in line with other forms of online gambling to cut down bureaucracy.' 'It is not about increasing or decreasing rates,' the government said, 'and we welcome views from all stakeholders including businesses, trade bodies, the third sector and individuals.' ___ AP sports:
The Independent
a day ago
- Business
- The Independent
British horse racing set for unprecedented strike over betting tax changes
British racing will stage an unprecedented one-day strike on 10 September in protest at a proposed rise in taxes on horserace betting. The four scheduled fixtures at Carlisle, Uttoxeter, Lingfield and Kempton will not take place after agreements between the owners of the courses and the British Horseracing Authority, making it the first time the sport has voluntarily refused to race in modern history. The BHA set up the 'Axe the Racing Tax' campaign in response to proposals to replace the existing three-tax structure of online gambling duties with a single tax, with fears the current 15 per cent duty on racing could be increased to the 21 per cent levied on games of chance. Brant Dunshea, chief executive at the British Horseracing Authority, said: "We have decided to take the unprecedented decision to cancel our planned racing fixtures on September 10 to highlight to Government the serious consequences of the Treasury's tax proposals which threaten the very future of our sport. "British racing is already in a precarious financial position and research has shown that a tax rise on racing could be catastrophic for the sport and the thousands of jobs that rely on it in towns and communities across the country. "This is the first time that British racing has chosen not to race due to Government proposals. We haven't taken this decision lightly but in doing so we are urging the Government to rethink this tax proposal to protect the future of our sport which is a cherished part of Britain's heritage and culture. "Our message to Government is clear: axe the racing tax and back British racing." The four tracks involved are operated by the Jockey Club and the Arena Racing Company, with both backing the move. Jim Mullen, CEO at the Jockey Club, said: "We hope this pause for reflection will enable the Government to truly understand the economic impact of horseracing and its cultural significance to communities across the UK, as well as the world-class racing festivals we host. "After this period of reflection, we hope the full implications will be understood, and we can prevent the irreparable damage that threatens a sport the nation is, and should be, proud of." Martin Cruddace, CEO at ARC, added: "We have always been taxed and regulated differently, and it is imperative for our future that we continue to be so. "If the Government wants Britain to be a world leader in online casino and a world pauper in a sport at the heart of its culture, then tax harmonisation will achieve that aim." While the four meetings will be rescheduled, Paul Johnson, chief executive of the National Trainers Federation, underlined the "sacrifice" in calling a halt to the sport for a day. He said: "Cancelling fixtures is a huge sacrifice by racing and should serve as a stark reminder to the Government of the impact its tax raid will have on our sport. "Thousands of jobs are at stake alongside the loss of millions of pounds to the British economy." A Treasury spokesperson said: "We are consulting on bringing the treatment of online betting in line with other forms of online gambling to cut down bureaucracy - it is not about increasing or decreasing rates, and we welcome views from all stakeholders including businesses, trade bodies, the third sector and individuals."
