The British Horseracing Authority (BHA) announced that all race meetings in Britain will be suspended on September 10, 2023, as part of a protest against a proposed tax increase on horserace betting. This marks a historic moment for the sport, as it will be the first instance in its modern history where racing is voluntarily halted in response to government policy.
The decision aligns with the BHA’s ongoing campaign, known as “Axe the Racing Tax,” which aims to challenge the UK Government’s plan to consolidate existing online betting duties into a single tax band. The proposed change would increase the tax rate on horserace betting from the current 15 percent to 21 percent, the same rate applied to online games of chance.
Four scheduled race meetings at Lingfield Park, Carlisle, Uttoxeter, and Kempton Park will be rescheduled due to the strike. On the same day, prominent figures from the horseracing community, including owners, trainers, and jockeys, will convene in Westminster to highlight the potential harmful effects of the Treasury’s proposal on an industry valued at approximately £4.1 billion to the UK economy.
Economic analysis conducted by the BHA indicates that aligning the tax rates could inflict a severe financial blow to the horseracing sector. The analysis suggests a possible revenue loss of £330 million over the first five years, jeopardizing approximately 2,752 jobs within the industry. Betting operators are likely to respond to the tax increase by raising prices, cutting bonuses, and reducing marketing expenditures, further endangering the financial stability of the sport.
Historically, the sport has only canceled events in response to extreme circumstances such as adverse weather, equine virus outbreaks, or national emergencies like the Covid-19 pandemic. The BHA’s decision to collectively abstain from racing underscores the gravity of the situation and the unity within the racing community.
As the Autumn Budget approaches, the “Axe the Racing Tax” campaign is gaining momentum, with the goal of persuading the Government to reconsider the proposed tax changes. The outcome of this protest may have lasting implications for the future of horseracing in Britain.
