BHA launches #AxeTheRacingTax petition; Lord Allen set to become Chair
Campaign and governance changes set to impact British horseracing.
Key points:
– BHA has launched the #AxeTheRacingTax petition, after research claims proposed Government tax rises could risk 2,752 jobs and £330m ($440,800) in revenue losses over five years
– Lord Allen of Kensington has been appointed Chair of the BHA, leading governance reforms towards a fully independent Board
The British Horseracing Authority (BHA) has announced a campaign opposing proposed UK Government tax changes and the appointment of Lord Allen as Chair of the BHA.
The BHA has launched the #AxeTheRacingTax petition following new research that indicates the UK Government’s proposed increase in betting tax, from 15% to at least 21%, could result in a £330m revenue loss over five years and put 2,752 jobs at risk in the first year.
Yorkshire is predicted to face a £37m economic loss and over 340 job losses in the first year. The BHA warns that the tax rise poses risks to the economic sustainability of horseracing and related local communities.
Brant Dunshea, BHA CEO, stated: “Together as an entire industry, we’re asking the British public for support in calling on the Government to rethink this policy and stop undermining a much-loved part of British heritage and culture.”
Good to know: The proposed tax changes are under consultation by HM Treasury and could affect the sport’s financial future
Separately, the BHA Board has confirmed that Lord Allen of Kensington will take the post of Chair on 1 September. His appointment follows discussions on governance reforms intended to create a fully independent Board.
The reforms will establish a single independent board responsible for overseeing the BHA executive team. The Board and Lord Allen will begin this transition subject to approval by BHA members.
Lord Allen added: “I am delighted we have agreed to a process towards a new independent BHA Board and I look forward to formally starting in September.”
There is increasing pressure on HM Treasury as industry leaders, local communities and the public rally behind the #AxeTheRacingTax campaign.
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