THE MP for North West Hampshire has thrown his weight behind Britain's horse racing industry, as it battles a proposed new tax.
Kit Malthouse was just one of the 'heavy hitters' to back protests against the Labour government's proposed hike in taxation for online horse betting.
On Wednesday, September 10, horse racing across the UK was cancelled as jockeys, trainers, and owners went on strike and went to Westminster to lobby members of parliament.
Mr Malthouse, speaking after the 'Axe the Racing Tax' event, said, "I will do all I can to help the campaign and back British racing.
Read more
- New food waste collection service coming soon
- Lifelong volunteer who has helped raise millions of pounds wins BBC award
- Councillors react to Stockbridge local plan announcement
"As many of you will know, horses and the racing industry are a big part of life in North West Hampshire.
"So the government’s changes to racing betting taxation will spell disaster for many studs and stables across our lovely area.
"I was therefore pleased to support the rally event in Westminster organised by the industry on the very day that racing was cancelled in protest."
According to the website of the campaign led by the British Horse Racing Authority, "Currently, horse race betting online is taxed at 15 per cent. This is a different rate from online gaming, which is taxed at 21 per cent.
"In its recent consultation, the government is proposing that the current system would be replaced by a single Remote Betting and Gaming Duty, meaning that horse race betting would be grouped with online gaming and taxed at the higher rate."
According to the campaign, if the tax comes into force, bookmakers will pass less money onto the sport.
It argues it would lead to less money for trainers, jockeys, stable staff and racecourses, of which many are already "struggling to survive."
The website also said, "This campaign calls on the government to rethink its planned tax raid on British horseracing.
"Horseracing is a cherished part of British culture and our second most attended spectator sport.
Read more
- Take a look inside this spacious family home on the market for £535,000
- Letter: 'Petition against new theatre shows lack of local knowledge'
"It’s also a major employer supporting stable staff, trainers, farriers, feed suppliers, not to mention local pubs, hotels and taxi drivers.
"Taxing betting on racing at 21 per cent would result in a £330m loss for British racing over five years and cost thousands of jobs.
"That’s why we need to axe the racing tax. If you agree with us, please sign our petition calling on the government to back British racing and axe the tax."
Share