Jeremy Hunt, the chancellor of the exchequer, is set to deliver his first budget this week. The British Gambling Commission (BGC) expressed support for the government’s economic plan of “Enterprise, Education, Employment, and Everywhere”. However, the BGC warned against measures that could hinder growth, endanger jobs, or impact the customer experience.
The budget coincides with the Cheltenham Festival horse racing event and precedes the release of the highly anticipated white paper on gambling, which is expected to introduce reforms to the industry.
Michael Dugher, CEO of the BGC, acknowledged the challenges faced by the sector due to ongoing regulatory changes and economic setbacks. He urged the government to consider the potential impact of higher taxes on businesses, industry members, and consumers.
Dugher emphasized the significant role played by the regulated gambling industry in the UK economy and expressed the industry’s willingness to contribute further. However, he urged for a pro-business budget without new tax increases and a balanced white paper on gambling that protects vulnerable individuals without compromising the betting experience for the majority who do so safely.
The gambling industry includes British tech leaders, as well as businesses supporting high street retail, tourism, hospitality, and leisure. At this challenging time, Dugher argued that ministers should focus on safeguarding investment and jobs.
While supporting the need for stronger measures promoting responsible gambling, Dugher warned against the introduction of new taxes and strict regulations that could jeopardize businesses. He particularly criticized the potential implementation of affordability checks on gaming businesses, which are viewed as controversial by the industry.
Dugher stressed the necessity for overdue changes to support the recovery of land-based casinos, while opposing intrusive and all-encompassing affordability checks that could drive customers towards unregulated online platforms. He emphasized that these platforms lack essential safeguards provided by the regulated industry and do not contribute any tax revenue to the exchequer.
