British horse racing halts due to planned tax measures

For the first time in history, not a single horse race will take place in the UK on September 10.
Jockeys, trainers, and racetrack operators are going on strike to protest the government's plan to raise the tax on horse betting from 15 to 21 percent.

The measure is intended to standardize tax rates for all online gambling products.

However, representatives of the racing industry warn of disastrous consequences. The profits of betting providers—one of the sport's most important sources of income—would decline significantly.
The sector receives over £350 million (around €476 million) annually from bookmakers.

The British Horseracing Authority fears losses of £330 million (around €450 million) over the next five years.

Up to 2,700 jobs could be lost in the first year alone. Small racecourses such as Catterick would face closure.

Representatives of the betting industry are also criticizing the strike and warning that it could jeopardize the stability of other sports that also depend on their financial support.

(reuters, red)