In response to the Summer 2015 Budget, in which the Treasury stated that the “government remains committed to replacing the current levy system” with a Horserace Betting Right, British Horseracing Authority Chief Executive Nick Rust, speaking on behalf of British Racing, said:

“Although there is still work to be done, the reiteration by the Chancellor of the Government’s commitment to achieving a fair, enforceable and sustainable funding mechanism from betting activity on our sport, through a Horserace Betting Right, is greatly appreciated by all within the British Racing industry.

“British Racing is united in its view that the Racing Right is the correct way forward, and we will now work closely with Government and the Betting industry on further developing how the Right will operate in practice, with a view to its implementation as soon as possible. We are confident that will provide the platform for Racing and Betting to thrive and grow together.”

The full documentation from the Summer 2015 Budget can be found here.