PARLIAMENTARY DEBATE
Horseracing - 28 November 2024 (Commons/Commons Chamber)

I know that the hon. Gentleman is a huge champion for horseracing, and the Government are well aware of the value of horseracing to the UK, which supports 85,000 jobs, has an annual economic contribution to the economy of £4.1 billion and is the second-best attended sport in Britain.

Mr Speaker, I am not sure if it is in order to raise the travesty of the refereeing decision last night in the Aston Villa-Juventus match, but I thought I would give it a try.

The Secretary of State has been warm about the horseracing industry, and I am grateful for that; it is a vital part of the economy in West Suffolk and nationwide. I have previously raised with her and her ministerial team the need to reform the betting levy and affordability checks. I would be grateful for an update on the timeline for any action on that.

We believe that the horseracing betting levy is vital for the financial sustainability of the sport and its thousands of fans. I can update him that the Minister for Gambling recently met representatives from horseracing and betting to encourage a voluntary deal that fairly reflects the relationship between racing and betting. We expect an update from the British Horseracing Authority and the Betting and Gaming Council on progress by the end of the year.

Let’s hope that the shadow Minister will not fall at the first hurdle.

Thank you, Mr Speaker.

The horseracing industry has been left in the dark by this Government, following the Chancellor’s disastrous Budget. The Office for Budget Responsibility warned that the national insurance rise would cost, on average, £800 per employee. With 20,000 employed across the country, the Government’s jobs tax could cost the horseracing industry £16 million and the gambling sector up to £100 million, even before the new levies. Will the Secretary of State tell the House whether her Department has made any assessment of the impact of the increase in national insurance contributions on the industry? How many jobs will be lost? How many training yards and courses will close? How many of the 500 independent bookies will shut?

Let me gently say to the hon. Gentleman—who I welcome to his place—that he is well aware that in the decisions that we took in the recent Budget we protected the smallest businesses. More than half of businesses will pay either less or the same as they currently do. We will take no lectures from the Opposition about how to run the economy, after 14 years, given the mess that they left this country in. It really does take some brass neck to stand at that Dispatch Box and attack the Government.