British Horseracing have taken an ‘unprecedented’ decision to protest Rachel Reeves’ threat that could ruin racing in her desperation to increase taxes
British Horseracing have taken an ‘unprecedented’ step to protest Rachel Reeves’ threat to racing.
Racing in Britain will be on strike on Wednesday, September 10 for the first time in its modern history as the sport looks to pile the pressure back on the Government in the latest fight that Labour have chosen to make. After complaints that Reeves has increased spending exponentially from what she promised, the Chancellor of the Exchequer is now accused of setting up to ruin racing in an attempt to fix the £51billion hole in public finances.
In this year’s budget, record tax rises were set out across the board, including the ideas in the Treasury for a new Racing Tax. The sport’s chiefs fear dire economic damage would be dealt to racing if proposals to harmonise tax on gambling online into a single rate are introduced. It would increase the 15% tax paid by bookmakers on racing bets online to the 21% paid by online casinos and games.
Horse racing is the second largest spectator sport in the country, with five million people going every year, generating £4billion for the economy, and 85,000 jobs.
The British Horseracing Authority (BHA) has forecast that more than 2,750 jobs will be at risk in the first year if the policy is pursued, with a £30m revenue hit in five years.
Brant Dunshea, the chief executive of the BHA, said in a statement: “We have decided to take the unprecedented decision to cancel our planned racing fixtures on 10th September to highlight to Government the serious consequences of the Treasury’s tax proposals which threaten the very future of our sport.
“British Racing is already in a precarious financial position and research has shown that a tax rise on racing could be catastrophic for the sport and the thousands of jobs that rely on it in towns and communities across the country.
“This is the first time that British Racing has chosen not to race due to Government proposals. We haven’t taken this decision lightly but in doing so we are urging the Government to rethink this tax proposal to protect the future of our sport which is a cherished part of Britain’s heritage and culture. Our message to Government is clear: axe the racing tax and back British Racing.”
Dunshea added at Windsor Racecourse on Monday: “This is an existential threat for the sport.
“Racecourses are often the focal point of local towns and communities across the country, as are the training facilities, the studs and breeding facilities across the country.
“So we would see it say that British racing is woven into our national fabric. And for those reasons, for all the social benefits that we bring to the nation, we should be treated differently.”
Jockey Tom Marquand will be one of those riders who won’t be paid on Wednesday, with the rides he was due to take now being suspended.
The self-employed jockey has missed one day in seven weeks of the hectic summer flat season calendar, but it’s a sacrifice he insists is the right move to give racing a brighter future.
He told Sky News: “If you take away money, all it will do is dilute the funds that are propping up [racing]. Owners need to be winning money for races to be able to pay for horses’ upkeep and training costs.
“It’s almost like taking a Jenga block out of the pile and not expecting it to fall down. Inevitably, if you take out the base, the rest crumbles.
“And racing is very much an example of that. If the funding goes, everything else crumbles around it because it’s such an important part of the sport.”
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