Gambling tax rise in budget sparks shop closure fears
Betting industry bosses are warning that a possible doubling of machine games duty in the upcoming budget would force shop closures and job losses. Chancellor John Healey is considering the move, which could raise up to £460m more a year.
Fred Done, billionaire owner of Betfred, said the policy would fail in its objective and deprive the Treasury of taxes. But Stewart Kenny, co-founder of Paddy Power, called that “scaremongering”.
The Social Market Foundation thinktank backs the rise from 20% to 40%, estimating it would generate between £275m and £460m annually. Andy Burnham has already tightened licensing laws for new shops.
