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BGC cites EY estimates of UK gambling tax proposals’ economic effects

Regulation

The Betting and Gaming Council said an EY analysis it commissioned estimates that tax proposals from the Social Market Foundation and the Institute for Public Policy Research could put 40,000 UK jobs at risk. The analysis also projects a £3.1bn reduction in economic output and up to £8.4bn in wagers moving to the unlicensed market under the IPPR proposal. BGC chief executive Grainne Hurst urged the government to maintain a stable tax regime.

The estimates frame the potential employment, economic and unlicensed-market effects of proposed UK gambling tax changes.

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BGC urges UK government to rule out further gambling tax increases

Reportedly, the BGC has called on the UK government to exclude further gambling tax rises from its next budget. Gambling company executives also want the government to suspend a tax increase.

The Betting and Gaming Council (BGC) has asked the UK government to rule out further increases in gambling taxation in the next budget and to suspend a planned rise in betting duty. The request was made in a letter to the Chancellor of the Exchequer, John Healey, signed by the chief executives of Entain, Flutter UK & Ireland, bet365, Bally's Corporation, evoke and Betfred, all BGC members, according to the report.

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