British racing chief warns budget tax hike may have ‘devastating’ impact on sport

British Horseracing Authority chief executive Brant Dunshea warned on Wednesday that a budget tax hike on fixed-odds gaming machines could be 'devastating' for horseracing. Chancellor John Healey raised the Machine Games Duty on profits from fixed-odds gaming machines in betting shops from 20% to 25%, below the 40% rate recommended by the Social Market Foundation think-tank. Dunshea cautioned that the increase presents a 'clear risk' that hundreds or thousands of betting shops could close, and pledged to urgently engage with the government to mitigate the impact.