The UK will not increase taxes on the gambling industry

Over the past two weeks, the UK gambling market has been on edge, awaiting the government's decision regarding a potential tax increase for the industry. This possibility raised concerns among casino operators and impacted their stock prices. Ultimately, however, the Labour Party, which has replaced the Conservatives, decided against raising duties.
For the first time in fifteen years, the Labour Party presented its budget, which outlines plans to increase taxes for most businesses in order to bolster the national treasury. The anticipated additional revenue is expected to reach £40 billion (over 5 trillion rubles).
Nevertheless, the gambling industry will not be affected by these changes. Had the proposed tax increases been approved, the sector could have contributed an additional £3 billion (378.8 billion rubles) to the budget each year. Previously, the UK government had considered two proposals for increasing levies, put forward by think tanks, which suggested raising the tax rate for gambling businesses from the current 21% to as high as 42% or even 50%.
The decision to maintain the current tax rates was largely influenced by concerns from industry representatives. The UK gambling sector is already grappling with reforms and changes, and an increase in taxes would have added further strain.
Grainne Hurst, Chief Executive of the Betting and Gaming Council (BGC), welcomed the government's decision, noting that it took the industry's interests into account. She stated that any tax hike at this time would negatively impact customers, jeopardize jobs, and hinder the industry's growth.
The UK's decision to keep gambling taxes unchanged came just days after a similar move by French authorities. However, the local regulator, L’Autorité Nationale des Jeux, has not ruled out the possibility of implementing such an initiative in the future.
Meanwhile, the gambling tax revenue in Macau reached 66.4 billion patacas from January to September 2024.