BGC chief executive criticises UK racing tax exemption as cosmetic
BGC chief executive Grainne Hurst said the UK budget’s exemption for horse racing from the higher General Betting Duty was only cosmetic. She argued that the increase in Remote Gaming Duty from 21% to 40% could affect racing because betting operators fund sponsorships, media rights and the Horserace Betting Levy.
The tax changes could affect betting-funded sponsorship, media rights and levy income on which racing depends.