With excellent timing in the Year of the Horse and just before the opening of the Cheltenham Festival, following pressure mainly from Coalition parties (Viscount Astor, Lord Mancroft, myself and others) and the Crossbenches (Viscount Falkland) the Government announced on Report Stage in the House of Lords that they would be inserting a new clause in the Gambling (Licensing and Advertising) Bill at Third Reading to enable the Horserace Betting Levy to be extended to include offshore bookmakers who do not currently pay the Levy. This has now taken place.
With the value of the Levy having fallen drastically in recent years (from £106m in 2003/4 to £66.7 m in 2012/13) this is very good news for horse racing which is this country’s second most popular sport, with 5.6 attendees at events in 2012, and which makes a substantial contribution to the UK economy.
