Nick Rust, Chief Executive of the BHA, said:

“The British Horseracing Authority welcomes today’s announcement. A Horserace Betting Right represents a bespoke, direct and sustainable statutory replacement for the Levy at the heart of a modern, commercially based partnership with the Betting industry.

“The Horserace Betting Right would provide the platform for British Racing to grow its already significant £3.45 billion annual economic impact focussed in rural communities the length and breadth of the country, providing direct employment for over 22,000 highly skilled people, and supporting 85,000 jobs in the British economy overall.

“The British Racing industry is extremely grateful to Helen Grant MP for launching this third, critical consultation on a sustainable funding model for our sport.

“It is clear from the support we have received in both Houses of Parliament in recent months there is a cross-party consensus that although British Racing is a significant industry, particularly in rural areas, its capacity for further growth is restricted by an outdated funding model. We look forward to continuing to work with the Government to ensure a successful future for one of Britain’s most popular sports.”