UK Government to launch racing right consultation
Yesterday's Autumn Statement includes pledge to begin consultation to replace existing levy next year
The UK Government has pledged to launch a consultation on the introduction of a new racing right in early 2015 as a replacement for the existing levy.
The announcement was made in Chancellor of the Exchequer George Osborne’s 2014 Autumn Statement yesterday.
“The government will consult on the introduction of a racing right in early 2015 and will announce a decision after consultation,” the statement said.
In reaction to the announcement, chairman of the British Horseracing Authority Steve Harman said it was welcome news for the horseracing industry and all those connected with the sport.
“We have a landmark opportunity to secure a modern, fair and sustainable funding mechanism, and generate future growth and more jobs in our industry, greater returns to our participants and a new partnership with the Betting industry,” he said.
The racing levy, which was established in 1961 in order to help fund improvements to the sport of horseracing and veterinary research, is collected from UK bookmaker profits derived from the sport with amounts set by the Bookmakers’ Committee.
“We note the announcement made by the Chancellor in his Autumn Statement,” a William Hill spokesperson told eGaming Review.
“William Hill has already made a full submission to the Department of Culture, Media and Sport (DCMS) – on what is a complex legal issue – as a part of the consultation process [and] we will await further details before commenting further,” the spokesperson added.
The news follows the closure of a recent DCMS consultation which cited a racing right as one option to replace the current levy and CEO of the Remote Gambling Association Clive Hawkswood told eGR he was surprised by yesterday’s announcement while reaffirming the industry body’s opposition to any betting right.
“Many people will conclude that this must have been their preferred outcome from the beginning, but the RGA will contribute constructively to the next consultation when it is published in the New Year,” he said.
“However, we have already made clear our fundamental opposition to any new form of betting right being created for horseracing or indeed any other sport,” Hawkswood added.