Thirsk and Malton MP Kevin Hollinrake is delighted that the Government is committed to introducing a replacement for the Horserace Betting Levy. The Racing industry is a vital part of life in the constituency that Kevin Hollinrake represents. He is acutely aware of the importance of the sport to the local economy and the significance of it as a traditional part of the county’s rural life. He enjoys the sport and often attends meets at courses in Yorkshire and elsewhere in the country.
Mr. Hollinrake was one of many MPs who have supported a campaign to change the existing system. The All-Party Parliamentary Racing and Bloodstock Industries Group has been discussing the issues facing the industry. The purpose of this APPG is to promote the racing and bloodstock industries within Parliament; to inform member of both Houses about the industries; and to service the well-being of the industries.
The announcement during the Budget was welcomed by the British Horseracing Authority and many people in the industry who felt a new system was needed especially because of the effect on betting of offshore remote operators. It is hoped the revisions will establish a fair system with more funds going directly into supporting British racing.
The Department for Media, Culture and Sport has published details on the new system to be introduced by April 2017.
Mr. Hollinrake looks forward to positive results from continued engagement between the Government and representatives from the Horseracing industry over the next year to achieve the timetable for change as set out.
“I am delighted that the Government has agreed to make this change and congratulate the British racing industry on their relentless campaign. It cannot be right that bookmakers can avoid making a fair, yet vital, contribution to British racing by placing their operations in a foreign country. Bookmakers rely on the sport for much of their turnover, it can only be right that they give back to the sport and in doing so support racegoers, owners, trainers, jockeys, stable staff and punters. "