The Betting and Gaming Council (BGC) has rejected an MPs’ letter calling for Machine Games Duty (MGD) to be doubled. Grainne Hurst, the BGC’s Chief Executive, said in a statement that EY modelling shows a rise to 40 per cent could cost up to 16,000 jobs and leave the Treasury up to £124 million worse off.
Machine Games Duty at 40 per cent
According to the BGC, the letter claims doubling Machine Games Duty would protect high streets and raise revenue. Hurst said the independent evidence points the other way.
The EY modelling cited by the BGC puts the cost of a rise to 40 per cent at up to 16,000 jobs, nearly 1,500 betting shops and 34 casinos closed, and a Treasury position up to £124 million worse off.
MPs are right to be concerned about protecting communities and high streets, but it is deeply misguided to suggest that higher taxes on betting shops and casinos will achieve that.
Grainne Hurst, Chief Executive, Betting and Gaming Council, in a statement
Closures since the last Budget
Hurst said more than 600 betting shops have closed or announced closure since the last Budget, with over 10,000 jobs lost or put at risk. She described them as good local jobs, many held by young people, working parents and carers, and said more than eight in ten are outside London.
MPs calling for higher taxes should consider the consequences for the very communities they say they want to protect. Every closure means another empty shopfront, fewer jobs and another blow to Britain’s high streets.
Grainne Hurst, Chief Executive, Betting and Gaming Council, in a statement
The BGC is the UK trade body for betting and gaming operators. For wider figures on the sector, see TGE’s UK gambling market data and its coverage of gambling taxes and levies.
Next steps
The Budget is due on 28 October, and gambling.com reported that the Chancellor is weighing a doubling of MGD to 40 per cent at that event.
Source: Betting and Gaming Council
