Breeding & Racing Magazine

Licence Duty Budget Rise For UK Bookies

Meanwhile the UK betting industry "got away with no increase in general duty rates in the British Budget, but chancellor Alistair Darling still produced a body blow for bookmakers in the shape of an above-inflation increase in licence duty on gaming machines," reported racingpost.com. The annual fee "has gone up immediately by 9.1% from £2,030 (A$4,200) to £2,215 (A$4,600), which is estimated will cost the industry around £5.55 million (A$11.4m) a year". Association Of British Bookmakers described the rise as "disappointing" & Coral spokesman David Stephens added: "It's particularly disappointing in the current economic climate." In addition "the hurt may not end there, because the government announced it would begin consultation on shifting taxation on gaming machines from a flat fee to a gross profits basis".