BGC CEO STATEMENT ON TREASURY CONSULTATION LAUNCH 'THE TAX TREATMENT OF REMOTE GAMBLING'

Following HM Treasury’s consultation launch yesterday (28/04/2025) on the Tax Treatment of Remote Gambling, a statement from BGC CEO Grainne Hurst on the potential impact of further new taxes::

BGC CEO Grainne Hurst, said: “Raising taxes further now on regulated betting and gaming through a new single tax would be utterly self-defeating for the Government, while making a mockery of their growth strategy.

“Any potential further increase in taxes on our members, so soon after a White Paper which cost the sector over a billion pounds in lost revenue, will not raise more money for the Treasury.

“If General Betting Duty is raised to the same level as Remote Gaming Duty under one new tax, it would be catastrophic for Racing’s fragile finances.

“It will also likely force businesses to push investment and jobs overseas, while making their products more expensive for UK customers, driving them to the growing unsafe gambling black market online, which doesn’t pay a penny in tax and doesn’t have any of the safer gambling protections available in the regulated sector.

“BGC members contribute £6.8bn to the economy, generate £4bn in tax while supporting 109,000 jobs, but this flawed approach can only lead to a spiral of decline.

“Government must listen to business and sport and not drive growth, investment and jobs out of one of the UK’s few global business success stories.”