SBC News Voice of the Sports Betting Industry
BHA Director of Communications and Corporate Affairs, Greg Swift, has said that the government’s decision to not increase gambling duties at this time is welcome given the potential impact on racing’s finances and its workforce.
Responding to the publication of the Autumn 2024 Budget, Swift said the group will now work with the government on next year’s consultation on gambling duties to ensure that racing’s position is ‘fully understood’.
Meanwhile, Swift emphasised that Labour’s commitment to a permanently lower business rates multiplier for leisure businesses from 2026-27 is also welcome.
However, he showed some concern about what appears to be an increase in rates for some racing businesses for 2025-26, adding: “We will work with stakeholders to better understand the implications of today’s Budget in this area.
“We will also closely examine the potential impact that the increase in employers’ National Insurance Contributions (NICs) to 15% may have on the racing industry.
“Combined with the lowering of the level at which employers are required to make NICs payments it is reasonable to assume that this will affect hundreds of racing businesses across Britain.”
Furthermore, the Director noted that with the economic headwinds currently being experienced by British racing, these extra costs on small businesses already operating on tight margins risk causing “significant damage” to Britain’s rural and racing communities.
Additionally, the BHA has promised that it will work with stakeholders to fully understand the implications of changes in Inheritance Tax rules for the training and breeding industries.
Last week the Minister for Sport Stephanie Peacock said that “the Government remains committed to supporting British horseracing”, describing it as vital to the economy, as well as bringing joy to many people.
Swift concluded: “In order to protect tens of thousands of jobs and meaningfully support Britain’s second most-watched sport, British racing again calls on the Government to urgently reform the Horserace Betting Levy and address the impact of affordability checks on racing.”
In further news, Victoria Morgan, BHA Head of Policy and Advocacy, has this week spoken of how racing has approached the Government’s first 100 days in power.
She explained that although the election of a Labour government was an odds-on certainty, it was less clear how the party viewed racing’s key issues.
