British Horseracing to Strike Wednesday in Tax Protest
No race meetings will occur in Britain on September 10, 2023, as the British Horseracing Authority (BHA) leads a historic protest against the Government’s proposed tax increase on horserace betting. This marks the first time in modern history that the sport has voluntarily decided to halt racing in response to government policy.
The protest is part of British Racing’s ‘Axe the Racing Tax’ campaign, which seeks to challenge the Treasury’s plan to unify existing online betting duties into a single tax band. The proposed change would increase the tax rate on racing from the current 15 percent to align with the 21 percent rate applied to online games of chance. This adjustment could have dire consequences for the industry, which contributes approximately £4.1 billion to the UK economy.
Impact on the Industry
On this significant day, four scheduled race meetings at Lingfield Park, Carlisle, Uttoxeter, and Kempton Park will be rescheduled. In conjunction with the cancellations, the racing community will hold a major campaign event in Westminster, where industry leaders, owners, trainers, and jockeys will gather to emphasize the potential threat posed by the Treasury’s proposal.
The BHA commissioned an economic analysis that estimates a staggering £330 million revenue loss within the first five years if the tax changes proceed. Additionally, this adjustment could jeopardize 2,752 jobs across the sector. Betting operators are expected to counteract the tax increase by raising prices, cutting bonuses, and reducing their marketing budgets, which could further harm the sport.
A Historic Moment for British Racing
This collective decision to halt racing is unprecedented, with the exception of cancellations due to adverse weather, equine virus outbreaks, or national crises like the Covid-19 pandemic. The BHA’s bold stance reflects the urgency and seriousness of the situation facing British Racing. The industry is rallying to protect its future and the livelihoods that depend on it.
As the Autumn Budget approaches, the outcome of this protest will likely shape the future of horseracing in the UK. The implications of the proposed tax rise extend beyond the sport itself, potentially affecting thousands of jobs and local economies that rely on racing events.
The British Horseracing Authority and its supporters remain committed to advocating for a fairer tax structure that recognizes the unique contributions of horseracing to the UK economy. The outcome of this historic strike will resonate throughout the industry and could set a precedent for future government interactions with sports betting.
