Axe The Racing Tax: BHA urges public to sign petition

Ahead of Glorious Goodwood starting on Tuesday, the British Horseracing Authority is calling for the public to back British racing and sign the #AxeTheRacingTax petition.

New research reveals the destructive impact the Treasury’s proposed tax rises on horserace betting could have on the sport – predicting a catastrophic £330 million revenue hit to the industry in the first five years, and 2,752 jobs at risk in the first year alone.

In a wake-up call for Government, the latest research commissioned by the British Horseracing Authority (BHA) reveals an even more devastating economic outlook than initial reports suggested, particularly for racing towns across Britain.

Yorkshire alone, home to nine racecourses including Doncaster and York, is predicted to suffer a £37 million economic hit in the first five years, with 342 jobs immediately at risk in the first year – from trainers and stable staff to local pub owners and hospitality workers.

It is in response to the gravest risk faced by horseracing in generations that the BHA has launched its #AxeTheRacingTax campaign.

It urges the sport and the public to come together to back British racing and stop the Government’s devastating tax hike by signing the #AxeTheRacingTax petition.

British horseracing contributes £4.1 billion to the economy annually and is a cherished part of British culture, with over 5 million people going to the races every year. But a new proposal from the Government could send Britain’s second-best attended spectator sport into irreversible decline.

The Government is proposing to tax betting on horseracing at the same rate as online casinos – rising from 15% to 21% – although the rate could be higher depending on the Treasury’s decision. The BHA is warning that a tax rise of 21% could cost the industry £66 million a year and put 2,752 people at risk of losing their jobs in the first year. Thousands more could follow.

Brant Dunshea, CEO at the BHA, said: “This latest tax bombshell from the Government, if followed through, poses one of the gravest risks to horseracing the sport has ever seen.

“The horseracing industry is already in a precarious financial position, and the latest research provides a much more catastrophic forecast than we first thought. We’re talking thousands of jobs at risk across the supply chain, severely impacted towns and communities, and the irreversible decline of the country’s second most popular sport.

“Together as an entire industry, we’re asking the British public for support in calling on the Government to rethink this policy and stop undermining a much-loved part of British heritage and culture. It’s time to axe the racing tax and back British horseracing.”

Trainer David Menuisier said: “This move from the Government would put thousands of trainers, owners, jockeys and stable staff at risk. Racing is much more than just a sport in this country.

“It brings fun and excitement to millions and is a major local employer, particularly here in West Sussex as we prepare for another fantastic year at Goodwood.

“The Government needs to acknowledge the unique and significant social and economic contributions the horseracing industry makes to the country and stop risking the ecosystem that keeps this sport alive.”