Wincanton Racecourse has voiced serious concerns regarding the Treasury’s proposal to harmonise the Remote Betting and Gaming Duty (RBGD) into a single rate. The Glastonbury and Somerton MP, who recently visited the racecourse, has formally written to the Chancellor highlighting the potential risks these changes pose.
The Treasury is currently consulting on restructuring remote gambling duties, aiming to replace the existing system with a uniform duty rate for online operators. However, the proposed increase from 15% to 21% could disproportionately impact British horseracing, an industry that forms a vital pillar of local economies like Wincanton and its surrounding areas.
Wincanton Racecourse is not only a significant source of employment but also supports a network of related businesses and draws tourism to the region. The proposed rise threatens to undermine these benefits. The British Horseracing Authority notes that horseracing contributes over £4 billion annually to the UK economy, but the harmonisation could lead to a £66 million shortfall.
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Such a financial hit may force operators to scale back on investment, sponsorship, and promotional efforts, stalling growth and reducing the sport’s visibility. In response, the MP expressed support for government measures to tackle problem gambling, including potentially doubling the Remote Gaming Duty to 42%, but warns that harmonisation could jeopardise the sport’s future.
She emphasized the importance of institutions like Wincanton Racecourse, which hold significant social, historical, and economic value. Urging transparency, she has called for a comprehensive impact assessment of the proposed changes and clear plans to mitigate any negative effects on the horseracing sector.