"Budget Tax Hike on Betting Threatens Punters and Sports, Putting Thousands of Jobs at Risk—The Sun Urges Reeves to Protect Our Bets!"

Table of Contents

• Save Our Bets
• Impact on Bookmakers
• High Street Implications
• Political Consequences
• Conclusion

TODAY, The Sun calls on Chancellor Rachel Reeves to “Save our Bets” and abandon plans that would negatively impact millions of Britain's bettors.

The Sun is urging Chancellor Rachel Reeves to ‘Save our Bets’Credit: Getty The tax grab would close hundreds of high street bookiesCredit: Tom Farmer

The proposed multi-billion pound tax grab could lead to the closure of hundreds of high street bookmakers, resulting in job losses for thousands and striking at the heart of a cherished British pastime.

This move would severely impact sports that are beloved by Sun readers. Sponsorship funds that support racecourses, football clubs, and various sports would be redirected to the inefficient Treasury.

Experts indicate that tax increases burden consumers by lowering the odds and limiting the prizes that bookmakers can offer. Consequently, this may push more bettors into the illegal black market, from which the Government receives no tax revenue.

Bookmakers are strictly regulated and invest tens of millions in safer gambling initiatives and harm prevention. In contrast, the easily accessible black market is a perilous, unregulated environment.

The Treasury is currently developing these proposals, with Ms. Reeves acknowledging her focus on the nation's love for gambling.

The Sun, which has a proud tradition of advocating for our readers during the Budget season, firmly believes:

This would be an unacceptable blow to hardworking Brits who have already seen the cost of leisure activities rise under Labour.

A night out has become painfully expensive due to the Chancellor’s policies. The public is weary of this ongoing misery.

Meanwhile, bookmakers and MPs are alerting us to the potential devastation of Britain’s High Streets.

Both the Social Market Foundation and IPPR think tanks are advocating for a 50% tax rate on online betting, which includes our own Sun and others. The current tax rate stands at 21 percent.

Bookmakers, who currently sustain 109,000 jobs across the nation in areas like Stoke, warn that such a significant financial blow would lead them to close their doors and make devastating layoffs.

Treasury Jobsworths

Others will likely follow suit, depriving bettors of the opportunity to visit local shops they cherish, where they gather with friends.

More boarded-up stores will emerge in communities already suffering from years of high retail taxes.

Treasury officials should also recognize this:

If this funding diminishes or disappears, some struggling clubs may be pushed to the brink of closure.

Rachel Reeves has confirmed she has the nation’s love of a flutter in her sights

Activists and think-tank members — part of the same elite that attempts to tax everything from red meat to travel — may convince Ms. Reeves that penalizing bettors is without risk.

Just easy revenue that can be redirected to fill her self-created £30 billion Budget deficit.

She must understand that this approach poses significant economic and political risks.

Race tracks facing potential closure can be found in numerous Labour constituencies ahead of the 2024 election. Racing is so concerned that it held an unprecedented strike last month.

Many football and rugby league clubs that rely on sponsorship to cover expenses are located in Labour strongholds.

Almost a million people play online bingo each month.

Perhaps most importantly, what message would this tax assault send about Labour’s understanding of working-class voters and the challenges they have faced during what seems like an unending crisis?

With Labour's popularity at an all-time low in the polls and Sun readers frustrated with taxes on their former pleasures, it's not too late for the Chancellor to reconsider.