The UK’s Betting and Gaming Council (BGC) has described the new government gaming tax proposals as “utterly self-defeating.”
Earlier this week, the government opened a consultation on a proposed new tax framework for remote gambling which would use a single tax, called remote gaming duty, rather than the current three-banded rate system.
“Raising taxes further now on regulated betting and gaming through a new single tax would be utterly self-defeating for the Government, while making a mockery of their growth strategy,” said BGC CEO Grainne Hurst.
“Any potential further increase in taxes on our members, so soon after a white paper which cost the sector over a billion pounds in lost revenue, will not raise more money for the Treasury.
“If general betting duty is raised to the same level as remote gaming duty under one new tax, it would be catastrophic for racing’s fragile finances.
“It will also likely force businesses to push investment and jobs overseas, while making their products more expensive for UK customers, driving them to the growing unsafe gambling black market online, which doesn’t pay a penny in tax and doesn’t have any of the safer gambling protections available in the regulated sector.”
