British Horse Racing Halts Over Tax Protest
No horse racing will occur on September 10 in Britain as industry insiders protest government plans to increase remote betting taxes. The proposed tax hike threatens to harm the sport's funding, risking job losses and reducing industry collaborations with betting companies.
In an unprecedented move, the British horse racing industry will come to a standstill on September 10, as jockeys, trainers, and racecourses unite in protest. Their opposition targets a government proposal to increase remote betting taxes, a change that threatens the sport's financial backbone.
The British Treasury plans to harmonize remote betting duties, potentially raising taxes on horse racing wagers from 15% to 21%. This move aligns with online casino taxes but poses a risk to an industry heavily reliant on betting-related income. The sector fears devastating financial repercussions, with projected revenue losses and thousands of job cuts on the horizon.
The Betting and Gaming Council, representing a vast majority of the regulated gambling industry, warns the proposal could hinder not only horse racing but also other sports dependent on betting operators. The strike represents a crucial standoff between the racing industry and government, with significant cultural and economic impacts at stake.
(With inputs from agencies.)
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