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Betfred says all its shops may close if Reeves hikes gambling tax
- Recently, Betfred warned all 1,287 shops could vanish from the UK High Street if Chancellor Rachel Reeves hikes gambling taxes, risking 7,500 jobs.
- Chancellor Rachel Reeves has said firms should `pay their fair share` and was encouraged by Gordon Brown, former Prime Minister, as the IPPR estimated a 50% tax rise could raise �3.2bn.
- Company costs have risen after nearly £500,000 in operating profit, with an additional £20m from NICs and minimum wage increases, according to Betfred.
- Earlier this month, Evoke warned up to 200 William Hill outlets could close if taxes rise, while Paddy Power said on Thursday it would close 57 shops across the UK and Republic of Ireland; HM Treasury declined to comment on tax speculation.
- Public‑health data show the Office for Health Improvement and Disparities estimated excess costs of harmful gambling between 1 and 1.77 billion pounds, while Fred Done warned `slowly it will go online, but we're talking, without tax increases, we've still got probably 20 years of life on the High Street`.
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Rachel Reeves warned tax hike in Budget could 'force mass closures of bingo halls' across UK - The Mirror
A wave of bingo halls have closed since the Covid crisis - and an industry chief claims a tax rise will kill off many more, after reports the Chancellor could double taxes on bettering firms to 30%
·London, United Kingdom
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Betfred warns betting shops and jobs at risk if Reeves hikes gambling taxes
Fred Done, who set up Betfred with his brother in 1967 said the Chancellor's proposed tax rises were the 'biggest threat' to the industry in his 57 years as Ms Reeves suggests increasing taxes on betting firms
·United Kingdom
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Coverage Details
Total News Sources19
Leaning Left2Leaning Right4Center5Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 18%
C 46%
R 36%
Factuality
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