Fear for future of Ludlow racecourse and 100 jobs over gambling tax hike
Around 100 jobs are at risk and the future of a Shropshire racecourse is in question due to an impending new levy on gambling, an MP has warned.
Stuart Anderson MP has vowed to fight against a significant tax hike that could put at risk almost 100 jobs at Ludlow Racecourse.
The Chancellor has announced plans to introduce a new single remote gambling duty that would tax betting on horse races at the same rate as online slot machines and casinos.
This would replace up to three separate taxes that remote operators currently pay. Operators would be expected to pay an extra 6 per cent, equating to £40 million in extra taxation.
A report commissioned by the British Horseracing Authority has warned that the flat rate tax on remote gambling could cost the sector almost £66 million in lost income, with operators likely to seek to mitigate significant tax rises through cutting bonuses, reducing advertising and marketing budgets and increasing prices.
