The Betting and Gaming Council has appealed to Jeremy Hunt, urging him to reconsider what they perceive as a "covert tax" imposed on land-based casinos, in response to the UK chancellor's autumn statement. The UK Treasury has declared a freeze on gaming duty bands for UK casinos, meaning that they will not be adjusted to account for inflation.
This decision has prompted the Betting and Gaming Council to assert that it would effectively result in a yearly tax increase of £5 million for its casino members. The freeze was initially announced in March. In support of their argument, the Betting and Gaming Council highlighted the significant workforce employed by UK casinos, consisting of over 10,000 individuals, as well as the impressive figure of over 16 million customer visits each year.
Furthermore, the industry contributes £300 million annually in taxes. Michael Dugher, the CEO of the Betting and Gaming Council, expressed concern over the impact of freezing the gaming duty bands, deeming it a hidden tax that may hinder the recovery and diminish future growth.
This decision has prompted the Betting and Gaming Council to assert that it would effectively result in a yearly tax increase of £5 million for its casino members. The freeze was initially announced in March. In support of their argument, the Betting and Gaming Council highlighted the significant workforce employed by UK casinos, consisting of over 10,000 individuals, as well as the impressive figure of over 16 million customer visits each year.
Furthermore, the industry contributes £300 million annually in taxes. Michael Dugher, the CEO of the Betting and Gaming Council, expressed concern over the impact of freezing the gaming duty bands, deeming it a hidden tax that may hinder the recovery and diminish future growth.