Horseracing
Debate between Jack Rankin and Edward Leigh(1 month, 1 week ago)
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Jack Rankin
My hon. Friend is quite correct to say that. I am a big cricket fan and effectively we have seen what big money overseas can do to the heart of a sport that originated in this country and gives us a lot of power, and we must be really careful about what we do. Obviously, we should also acknowledge that if people are pushed to the black market, there will be even fewer barriers to entry there, which might have a bad effect on problem gambling overall.
So, we are at an important crossroads for British horseracing. As bookies’ takings, which fund the levy, continue to decline, it is important that the Government’s approach to gambling respects individual liberty, and drives growth rather than limiting it. Just to expand on that—
Sir Edward Leigh (in the Chair)
Order. Will the hon. Member now draw his remarks to a close?
Jack Rankin
Certainly, Sir Edward.
I hope the Chancellor will carefully consider introducing further punitive taxes on the gambling sector in next week’s Budget, because that would further squeeze the horseracing industry. And given that the Labour party made growth its priority, I hope that this Government will be forthright in their support of British horseracing—an industry that plays a vital role in my local economy and in generating this country’s unrivalled soft power.