Horse Racing Stakeholders Unite Against Proposed Tax Hike
Racing events in the British horseracing industry have been postponed in response to a proposed tax increase.
In a united front, the horse racing industry is voicing its concerns over a proposed tax increase by the British Government. The tax, aimed at harmonizing the rate for online betting on horse racing with that of online casinos and games of chance, could have significant consequences for the sport and the thousands of jobs it supports.
The British Horseracing Authority (BHA) has taken the lead in the campaign against the tax hike, launching the "Axe the Racing Tax" initiative. The BHA, along with other major stakeholders such as The Jockey Club and the Arena Racing Company, is urging the government to reconsider the tax proposal.
Brant Dunshea, the BHA's chief executive, commented, "The cancellations are to highlight the serious consequences of the Treasury's tax proposals. We believe that this tax rise could cause significant harm to the sport and the thousands of jobs that rely on it in towns and communities across the country."
Jim Mullen, CEO at The Jockey Club, added, "The cancellations are intended to make the government reflect on the harm the tax will cause to horse racing. We want to draw attention to the potential threat these proposals pose to the future of the sport."
The cancellations of race meetings on September 10 at Lingfield Park, Carlisle, Uttoxeter, and Kempton Park are a show of unity among the owners, trainers, jockeys, and senior leaders in the horse racing industry. The event will see these stakeholders joining together to highlight the threat posed by the Treasury's proposed tax on horse racing betting.
The message to the government is clear: axe the racing tax and back British racing. The sport is a cherished part of Britain's heritage and culture, with over 5 million attendees yearly. It contributes £4.1 billion annually to the UK economy and supports thousands of jobs.
Research conducted by the BHA found that this level of tax rise would cost the industry £66 million a year. The tax rise could put 2,752 people at risk of losing their jobs in the first year, with further job losses expected in subsequent years.
On September 10, there will be a major campaign event outside Westminster, aiming to enable the government to understand the economic impact of horse racing and its cultural significance to communities across the UK and the world.
The sport's supporters are encouraged to join the campaign and sign the petition to stop the tax hike. The future of horse racing, and the jobs it supports, depends on it.
- The horse racing industry, united against a proposed tax increase on online gambling, including sports-betting and horse-racing, is concerned about its potential consequences on the sport and the thousands of jobs it supports.
- The "Axe the Racing Tax" initiative, led by the British Horseracing Authority (BHA), along with other stakeholders like The Jockey Club and the Arena Racing Company, aims to persuade the government to reconsider the tax proposal on online horse-racing betting.
- The cancellations of race meetings on September 10 at several race tracks are a demonstration of unity among horse-racing stakeholders, including owners, trainers, jockeys, and senior leaders, to highlight the threat posed by the proposed tax on horse-racing betting.
- The "Axe the Racing Tax" campaign event on September 10, outside Westminster, seeks to make the government aware of the economic impact of horse racing and its cultural significance to communities in the UK and around the world.
