Latest news with #AxetheRacingTax
Yahoo
2 days 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:
Japan Today
2 days ago
- Business
- Japan Today
British horseracing to go on strike in protest against rise in betting taxes
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.' © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
NBC Sports
2 days ago
- Business
- NBC Sports
British horseracing to go on strike in protest against rise in betting taxes
LONDON — 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.'
Glasgow Times
2 days ago
- Business
- Glasgow Times
Racing tax: What is it and why is the sport going on strike
For the first time in the modern history of the sport in Britain, its participants will voluntarily go on strike for a day. A day of protest will be held in Westminster. What does that mean? It means there will be no racing in Britain on September 10. The meetings scheduled for Lingfield, Carlisle, Uttoxeter and Kempton that day will not take place. They have been rescheduled to other dates. And why has all this come about? The strike announcement has come as part of British racing's 'Axe the Racing Tax' campaign, which is urging the Government to axe the Treasury's proposal to bring existing online betting duties into one single rate. Why would tax rises be so bad? Economic analysis commissioned by the British Horseracing Authority has shown that aligning the current tax rate paid by bookmakers on racing with that of online games of chance could see a £330 million revenue hit to the industry in the first five years, putting 2,752 jobs at risk in the first year alone. Strike action will surely cost the sport money? It will, it is estimated it will cost around £200,000 in lost revenue on the day. So does the racing industry support the strike move? In a word, yes. Racecourses, owners and trainers are all in agreement. The National Trainers Federation said cancelling fixtures was 'a huge sacrifice' which 'should serve as a stark reminder to the Government of the impact its tax raid will have on our sport'. Is this is a one-off, or will there be more strikes? No more strikes are planned, as things stand. Can I still have a bet anywhere that day? Yes, there will actually be one meeting in Ireland, at Cork. Irish racing is run completely separately to British racing.
North Wales Chronicle
2 days ago
- Business
- North Wales Chronicle
Racing tax: What is it and why is the sport going on strike
For the first time in the modern history of the sport in Britain, its participants will voluntarily go on strike for a day. A day of protest will be held in Westminster. What does that mean? It means there will be no racing in Britain on September 10. The meetings scheduled for Lingfield, Carlisle, Uttoxeter and Kempton that day will not take place. They have been rescheduled to other dates. And why has all this come about? The strike announcement has come as part of British racing's 'Axe the Racing Tax' campaign, which is urging the Government to axe the Treasury's proposal to bring existing online betting duties into one single rate. Why would tax rises be so bad? Economic analysis commissioned by the British Horseracing Authority has shown that aligning the current tax rate paid by bookmakers on racing with that of online games of chance could see a £330 million revenue hit to the industry in the first five years, putting 2,752 jobs at risk in the first year alone. Strike action will surely cost the sport money? It will, it is estimated it will cost around £200,000 in lost revenue on the day. So does the racing industry support the strike move? In a word, yes. Racecourses, owners and trainers are all in agreement. The National Trainers Federation said cancelling fixtures was 'a huge sacrifice' which 'should serve as a stark reminder to the Government of the impact its tax raid will have on our sport'. Is this is a one-off, or will there be more strikes? No more strikes are planned, as things stand. Can I still have a bet anywhere that day? Yes, there will actually be one meeting in Ireland, at Cork. Irish racing is run completely separately to British racing.
