this could be a \u201cnail in the coffin\u201d for the industry.<\/a><\/p>\nAn independent analysis commissioned by the British Horseracing Authority predicts that under these changes, the industry could see a \u00a3330million loss in revenue over five years, putting 2,752 jobs at risk in the first year alone.<\/p>\n
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.<\/p>\n
![\"James](\"data:image\/svg+xml,%3Csvg)
James Wild speaks on proposed tax hikes at Fakenham Racecourse<\/p>\n
Fakenham Racecourse, Britain\u2019s tightest National Hunt track, hosts 11 fixtures annually. Attendances in the first half of 2025 rose 29% on the previous year.<\/p>\n
Mr Wild is supporting the racing industry’s campaign to \u2018#AxeTheRacingTax\u2019.<\/p>\n
\u201cYou can\u2019t hike taxes on racing without there being damaging consequences for jobs in North West Norfolk and elsewhere that depend on the industry,\u201d the MP said.<\/p>\n
\u201cThe 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.<\/p>\n
\u201cI urge everyone who cares about British racing to make their voices heard and support the #AxeTheRacingTax campaign.\u201d<\/p>\n
On September 10, the sport took the unprecedented step of cancelling all fixtures in protest of the Government\u2019s proposals – the first collective industrial action outside of a national emergency.<\/p>\n
The Treasury consultation on remote gambling duties closed on July 21, with a final decision expected in the Autumn Budget on November 26.<\/p>\n","protected":false},"excerpt":{"rendered":"James Wild has joined a campaign against proposed tax hikes on betting. The North West Norfolk MP joined…\n","protected":false},"author":2,"featured_media":217883,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"tags":[229,3004,101,56,54,55],"class_list":["post-217882","post","type-post","status-publish","format-standard","has-post-thumbnail","category-racing","tag-politics","tag-racing","tag-sports","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/217882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=217882"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/217882\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/217883"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=217882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=217882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=217882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}