Gambling tax fight brings jockeys, racing industry to Westminster

Impact of Proposed Racing Tax on the Industry

By Virginia Furness

Concerns from Jockeys and Trainers

LONDON (Reuters) -Jockeys in white silks lined up outside parliament in central London on Wednesday, the first protest by the racing industry as it fights against a government proposal which could see taxes on online horse racing bets increased.

Government's Stance on the Proposal

The measure, dubbed the "racing tax" by critics, could come as part of a proposal by the Treasury to bring existing online betting duties into one single rate.

Economic Contributions of Horse Racing

But racing leaders say it poses an existential threat to their industry, costing jobs and livelihoods.

Having taken the unprecedented move to voluntarily cancel racing in Britain for the first time in its history, over 200 jockeys, trainers, and industry representatives met in Westminster to voice their concerns.

Group 1 winning jockey Kieran Shoemark told Reuters the proposal could have a "catastrophic" impact, not just risking the jobs of jockeys but stable staff, caterers and race-day workers.

"We're already under a lot of pressure," he said. "I think if the tax were to come in, it would just make it impossible for our sport to survive."

Britain's government said its wider review was aimed at "levelling the playing field and simplifying the system" and that it had "no plans" to change a current tax exemption for bets placed at racecourses.

Horse racing in Britain is heavily reliant on funding from the betting industry, which contributes over 350 million pounds to the sport annually. Campaigners warn any hits to betting company profits will mean bookmakers pass less money on to the sport.

The industry is calling on the government to consider a separate, lower tax rate for racing because the sport's cultural and economic importance.

Racing employs some 85,000 people and contributes over 4 billion pounds annually to the economy, the British Horseracing Authority says.

(Reporting by Virginia Furness; editing by William James)