The Telegraph reports that the Chancellor will exempt horseracing from upcoming increases in gambling taxes, focusing instead on gaming machines and online casinos. Bets placed on the horses in betting shops or online are subject to a levy, but neither is expected to be raised in the Budget following intense lobbying from the industry. Rachel Reeves is expected to raise £1bn from the tax hikes, with Treasury insiders concluding that a rise is both justifiable given the position of the public finances and politically palatable for the electorate at large.
Horse racing to be exempt from gambling tax rise
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