CEO urges reforms to protect UK horse racing from gambling tax impact

In the United Kingdom, the horse racing industry faces potential challenges as the Treasury considers increasing gambling taxes. Martin Cruddace, the CEO of Arena Racing Company, has voiced concerns about the impact of these changes on the sport, which is a significant contributor to the economy. He has proposed a reduction in the General Betting Duty (GBD) from 15% to 10% and an increase in the statutory Levy from 10% to 15% to bolster the industry. Cruddace's intervention comes amid discussions about the gambling sector, which is seen as a potential source of additional tax revenue. The proposed tax increases could threaten jobs and hinder growth within the racing industry, which generates substantial tax revenue and supports a wide range of employment opportunities. The distinction between horse racing betting and high-risk online gaming is central to Cruddace's argument. He emphasizes that the gambling-related harm associated with horse racing is significantly lower than that of online casino games. This differentiation is crucial as the industry seeks to protect itself from the fallout of potential tax reforms. Overall, Cruddace's proposals aim to create a more favorable tax environment for horse racing, ensuring its continued growth and contribution to the UK economy while safeguarding jobs and the livelihoods of those involved in the sport.