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BGC backs UK Government's plan – but not 'at expense of jobs'

Updated:2024-03-20 09:23    Views:148

In the week that the Cheltenham Festival will take place, the BGC highlighted that the event generates £274m ($330m) for the local economy – with around £1bn in wagers placed across the four days.

The BGC has also stated that the industry is still recovering from the doldrums of Covid-19, which brought much of the industry to a standstill – while Russia’s invasion of Ukraine is also having a significant effect on the UK economy.

Michael Dugher, CEO of the BGC, said: “The regulated industry already plays a huge role in the UK economy, and we are keen to go further and contribute even more.

"But to deliver on this ambition, we need a pro-business budget, no new tax rises and a balanced gambling White Paper that protects the vulnerable while not spoiling the customer experience of the majority who bet perfectly safely.

“Our industry includes world-leading British tech,Online Casino Games as well as businesses supporting high street retail, plus those in the hospitality, tourism and leisure sectors. Ministers should be protecting investment and jobs at this challenging time. We want to see big changes that will further strengthen safer gambling, but new taxes and draconian regulations will put businesses at risk."

The news comes after repeated efforts by the BCG to oppose further regulation and after its chairman, Brigid Simmonds, denounced calls for an RET tax levy on gambling companies.






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