Fixed Odds Betting Terminals Debate
Full Debate: Read Full DebateDepartment: Department for Digital, Culture, Media & Sport
Bob Blackman
Main Page: Bob Blackman (Conservative - Harrow East)Department Debates - View all Bob Blackman's debates with the Department for Digital, Culture, Media & Sport
(6 years ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Jeremy Wright
Again, there is no delay here. We are attempting to bring forward these measures and implement them in a way that balances a number of factors. The most important factor, beyond question, is the wish to minimise the harm that the hon. Lady describes, and that is what we are doing. Were we not interested in that, we would not be making this change at all, and were the charges I have heard from Opposition Members right, we would not be talking about it at all, because there would not be the implementation of a FOBT stake change to discuss.
Bob Blackman (Harrow East) (Con)
In March 2018 the offshore gambling company GVC bought Ladbrokes, which is based in my neighbouring constituency, for £3.7 billion. Part of that package was £700 million in compensation to shareholders who would lose out as a result of FOBT stakes being reduced. However, that option ceases if the statutory instruments are put through this place and the other place before midnight on 27 March 2019. When will my right hon. and learned Friend introduce the SIs for this House and the other place to implement?
Jeremy Wright
We will do that as soon as we can. My hon. Friend, although I do not doubt what he says, will recognise that I do not think it proper for Government to take account of such commercial arrangements, which need to be made in view of whatever risks the market believes there will be. We will make this decision based on the criteria I have set out so that we can make this change in the most defensible way.