New research commissioned by the British Horseracing Authority says proposed gambling tax increases in the UK could put 2,752 jobs at risk in the first year and cost the industry £330m [$441m] over five years.
The British Horseracing Authority commissioned the study as the Treasury considers raising betting taxes on horseracing from 15% to 21%, bringing them in line with online casino rates as part of a wider gambling tax unification push.
Horseracing betting already faces a higher tax burden than appears on first inspection, since bookmakers must pay an additional 10% Horserace Betting Levy which is distributed to support the sport.
The research, conducted by a firm called Development Economics, shows a major economic impact, with Yorkshire alone facing a £37m hit over five years and 342 immediate job losses.
