British racing to protest against tax increases

• On September 10, a unique protest will take place for British racing.
• The BHA calls on the government to reconsider the proposed tax increase on betting rates.
• The tax increase could lead to a loss of £330 million in sterling.

British racing announced on September 10 that it would withdraw from the proposed increases in tax rates on betting on horse racing.

This action is unprecedented in the history of the sport. The British Horseracing Authority (BHA) announced the cancellation of four scheduled events: in Lingfield, Carlisle, Uttoxeter, and Kempton.

The reason for the protest lies in the government's proposal to consolidate existing taxes on online betting into a single tax bundle, which would lead to an increase in the tax rate from 15% to 21%, as it applies to betting on the outcome.

An economic analysis conducted by the BHA suggests this could result in a loss of £330 million in sterling in the first year and put 2,752 jobs at risk.

This decision comes ahead of the historic St Leger festival in Doncaster, which begins on September 11. The BHA has urged the government to reconsider its proposal, as this could have catastrophic consequences for the sport and thousands of jobs in the industry.

It is expected that the autumn budget of the Minister of Finance, Rachel Reeves, in November will include new tax increases.

Research by the BHA indicates that the increase in taxes on betting could significantly impact the financial state of racing, which is already in a precarious situation.

Scheduled events have been moved to other dates: Lingfield (September 8), Carlisle (September 9), Uttoxeter (September 11), and Kempton (September 15).

Tags: Europe/Sport