James Wild has joined a campaign against proposed tax hikes on betting.
The North West Norfolk MP joined racegoers at Fakenham Racecourse for the opening fixture of the 2025/26 season as he pledged his support for their cause.
The Government’s plans could align the current 15% general betting duty on racing with the 21% remote gaming duty applied to online casinos and slots, with industry figures warning the final rate could exceed 30%.
James Wild is interviewed at Fakenham Racecourse
The chief executive of Fakenham Racecourse, David Hunter, previously told the Lynn News this could be a “nail in the coffin” for the industry.
An independent analysis commissioned by the British Horseracing Authority predicts that under these changes, the industry could see a £330million loss in revenue over five years, putting 2,752 jobs at risk in the first year alone.
There are worries that betting operators would then offset costs through higher prices, reduced bonuses, and lower marketing spend, making racing less attractive to punters.
James Wild speaks on proposed tax hikes at Fakenham Racecourse
Fakenham Racecourse, Britain’s tightest National Hunt track, hosts 11 fixtures annually. Attendances in the first half of 2025 rose 29% on the previous year.
Mr Wild is supporting the racing industry’s campaign to ‘#AxeTheRacingTax’.
“You can’t hike taxes on racing without there being damaging consequences for jobs in North West Norfolk and elsewhere that depend on the industry,” the MP said.
“The Chancellor needs to listen and drop these plans before the Budget because implementing this tax would put livelihoods and a world-leading industry at risk.
“I urge everyone who cares about British racing to make their voices heard and support the #AxeTheRacingTax campaign.”
On September 10, the sport took the unprecedented step of cancelling all fixtures in protest of the Government’s proposals – the first collective industrial action outside of a national emergency.
The Treasury consultation on remote gambling duties closed on July 21, with a final decision expected in the Autumn Budget on November 26.