Responding to the publication of the Budget on Wednesday 30 October, BHA Director of Communications and Corporate Affairs Greg Swift said:
The Treasury’s decision to not increase gambling duties at this time is welcome given the potential impact on racing’s finances and its workforce.
We will now work with the Government on next year’s consultation on gambling duties to ensure that racing’s position is fully understood.
The Government’s commitment to a permanently lower business rates multiplier for leisure businesses from 2026-27 is also welcome.
However, we are concerned about what appears to be an increase in rates for some racing businesses for 2025-26 and we will work with stakeholders to better understand the implications of today’s Budget in this area.
We will also closely examine the potential impact that the increase in employers’ National Insurance Contributions (NICs) to 15% may have on the racing industry.
Combined with the lowering of the level at which employers are required to make NICs payments it is reasonable to assume that this will affect hundreds of racing businesses across Britain.
With the economic headwinds currently being experienced by British racing, these extra costs on small businesses already operating on tight margins risk causing significant damage to Britain’s rural and racing communities.
Additionally, we will work with stakeholders to fully understand the implications of changes in Inheritance Tax rules for the training and breeding industries.
Last week the Minister for Sport Stephanie Peacock said “the Government remain committed to supporting British horseracing. We believe it is vital to our economy, and it brings joy to many people.”
In order to protect tens of thousands of jobs and meaningfully support Britain’s second most-watched sport, British racing again calls on the Government to urgently reform the Horserace Betting Levy and address the impact of affordability checks on racing.
Greg Swift, BHA Director of Communications and Corporate Affairs
