Reeves hikes gambling taxes in Budget speech

ODN

Chancellor Rachel Reeves says she is reforming gambling tax to raise more than £1 billion per year by 2031. This includes an increase in remote gaming duty from 21% to 40% and in online betting duty from 15% to 25%. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

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00:00I will also reform gambling taxes in response to the rise in online gambling.

00:06Remote gambling, remote gaming is associated with the highest levels of harm

00:11and so I am increasing remote gaming duty from 21% to 40%.

00:17With duty on online betting increasing from 15% to 25%.

00:24I am making no change to the taxes on in-person gambling or on horse racing

00:30and I am abolishing bingo duty entirely from April next year.

00:38Taken together, my reforms to gambling tax will raise over £1 billion per year by 2031.

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