Join Nick Lightfoot at the BHA’s office in London, where Chief Executive Brant Dunshea and Director of Public Affairs Greg Swift give their immediate reaction to the 2025 Budget, in which Chancellor Rachel Reeves confirmed that racing would be exempt from a betting duty increase.#AxeTheRacingTax---British horseracing welcomes the decision by the UK Government today (November 26) to spare the industry from any punishing increase in direct gambling taxation.In her Budget, the Chancellor Rachel Reeves confirmed that racing’s remote betting tax rate would remain at 15% in recognition of its vital importance as a cultural and sporting asset enjoyed by millions of people across the country every year.A rise in taxation on online horserace betting would have had catastrophic implications for an industry that is an integral part of British society and culture, supporting 85,000 livelihoods and with an economic impact of £4bn.It is welcome that the Chancellor has today rightly recognised the vital importance of racing as a cultural, social and economic asset and acted to help secure the sport’s long-term future.The Chancellor’s positive decision recognises the potential damage to our sport, and the jobs supported by it, if the Government followed through on its proposal to “harmonise” remote gambling taxes and place horserace betting at the same rate as online casino betting.While the BHA led the sport’s response to the Treasury’s consultation, it was an all-of-sport effort to come together in a way which demonstrated the strength and solidarity of racing when collaborating with a shared purpose. We are grateful that the Treasury and No10 have listened to racing, speaking as one, and acted to protect the future of racing.We also note the increases in other gambling duties for the betting industry a result of the Budget, given the Government’s need to raise more money from general taxation. The relationship between racing and betting remains as important as ever and we will be working with our partners in the betting industry to understand the impact of this on British racing.The BHA will now analyse the Budget documents in greater detail to establish whether there are any other potential issues that may impact racing.We look forward to continuing to work with the Government to champion our sport and ensure that British racing can support its agenda for growth moving forward. Hosted on Acast. See acast.com/privacy for more information.

Ver todos los episodios