BGC: BETFRED CLOSURES SHOW THE REAL COST OF GOVERNMENT TAX RISES

“At last year’s Budget, the BGC warned that further substantial tax increases would undermine jobs, investment and growth across Britain’s regulated betting and gaming industry. Today, is the latest example of those warnings becoming reality.

“Betting shops are an integral part of Britain’s high streets, supporting local communities, generating vital tax revenues and providing essential funding for British horseracing. Further pressure on these highly regulated businesses will mean more closures, fewer jobs, reduced investment and less money flowing into racing.

"These are the real-world consequences of the previous Chancellor's decision to impose excessive tax rises on Britain's regulated betting and gaming industry. These tax rises are bad for jobs, bad for high streets and bad for racing, while handing a massive advantage to the unsafe, unregulated gambling black market."