RE: Can Kicking20 May 2026 13:04
Alboum....labour have only been in power for two years.
But in that two years they have made many changes which have impacted the industry in a negative way.
This SP was around 75p before the rumours of a gambling tax increase was spouted and it proceeded to slide right up until the budget announcement where it then hit low 20s.
They have also increased legislation, and put in place stricter regulatory controls. More of which are due to be commissioned this week and are expected to drive more and more customers to illegal gambling.
Two businesses ( Boyles and Evoke) are looking to sell up. They weren't looking to sell up before this govt.
The reason for the Gambling tax increase.....to fight against Child Poverty.
Irony - store closures, job losses, underground gambling increase, race course closures, less tax actually coming into the treasury in the long run.
Regardless of your political alignment, this government has not been good for the gambling industry. And it will only continue to get worse the longer they are in power. They are constantly on a money grab from industries who contribute a lot to the economy. And rather than end up with more money coming into the treasury, they will end up with less.
Racing contributes £4bn to the UK economy and hefty taxes. They will not stop until this is decimated.
Second piece of irony is that Starmers wife is a regular at the races.
But as per most of the legislation that is hurting the country, the policies are being driven by else where in his cabinet, or even ex prime ministers ( with Brown being the major lobbying party for these taxes, and Milliband helping to ensure our energy costs are the highest in the Western World)
It's just great..........if I get 50p, I'm out of here and never looking at a gambling stock again while they are in power.
If new govt comes in and has different policies, I will definitely re-invest.
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