Horse Racing

(asked on 11th December 2024) - View Source

Question to the Department for Digital, Culture, Media & Sport:

To ask the Secretary of State for Culture, Media and Sport, what assessment her Department has made of the potential impact of measures announced in the Autumn Budget on the horseracing industry.


Answered by
Stephanie Peacock Portrait
Stephanie Peacock
Parliamentary Under Secretary of State (Department for Culture, Media and Sport)
This question was answered on 20th December 2024

In order to repair the public finances and help raise the revenue required to increase funding for public services, the Government took difficult decisions at the Autumn Budget. Major tax measures were accompanied by Tax Information and Impact Notes in the usual way.

The Government recognises the significant contribution that racing makes to British sporting culture and its importance to the British rural economy. In addition to the above measures, we recognise the unique position of horseracing and that the Horserace Betting Levy is vital for financial sustainability of the sport. The Minister for Gambling recently met representatives from the horseracing and betting industries and has written to both encouraging a voluntary deal that fairly reflects the relationship between racing and betting.

Within the budget, the Government also announced its intention to publish a consultation next year on proposals to bring remote gambling (meaning gambling offered over the internet, telephone, TV, and radio) under a single tax, rather than taxing it through a three-tax structure. This consultation will consider the impacts of reforming gambling duties, and subsequently set out any expected impacts of any potential changes.

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