Saturday, October 12, 2024 4:47 PM
Image aggregated from The Guardian.
Ministers are considering a tax raid of up to £3bn on the gambling sector as Rachel Reeves casts around for funds to shore up the public finances.
Treasury officials are understood to be weighing up proposals, put forward by two influential thinktanks and backed by one of the party’s top five individual donors, to double some of the taxes levied on online casinos and bookmakers.
Measures could be included in this month’s budget, Labour’s first in 14 years, as the chancellor tries to plug the £22bn “black hole” that she claimed to have found in the nation’s finances after taking office.
Sources familiar with the discussions said the Treasury had yet to make a decision but appeared receptive to tweaking the UK’s complex regime of betting and gaming duties to raise extra funds of between £900m and £3bn, despite opposition from industry lobbyists.
As a former professional poker player, Derek Webb is used to rising from the table holding more chips than he started with.Vanquished opponents are left scratch
Ministers are considering a tax raid of up to £3bn on the gambling sector as Rachel Reeves casts around for funds to shore up the public finances.Treasury offi
Article By James Leyfield Experience James Leyfield is a freelance betting, sport and entertainment writer. He has worked for a number of national publ
The gambling market continues to expand in many countries, and that’s especially true for a country like Ireland. While some countries face a variety of strug