Key points:
- French horseracing associates have cancelled today’s racing events to go on strike
- The protest comes after plans to increase taxation on the industry as part of France’s 2025 budget
Horseracing events on 7 November have been cancelled in France, following industry strikes in protest of a proposed increase in betting taxes.
Further, an additional demonstration has been scheduled in Paris on the afternoon of 7 November, following a discontented response to the proposed increase on gambling taxes as part of the 2025 budget, which specifically targets taxes on horseracing.
The budget seeks to tackle the nation’s fast deteriorating budget deficit and includes plans, outlined by French Prime Minister Michel Barnier, to increase taxes by a total of €20bn ($21.5bn) whilst also cutting spending by €40bn.
Despite not being included as part of the original budget, the tax on gambling and specifically horseracing was added as a late amendment, fueling the discontent that has now risen to the surface within the industry. France’s Budget Minister, Laurent Saint-Martin, has said he “did not wish the horseracing industry to be taxed.”
As part of a statement issued yesterday, the France Galop and Société du Trotteur Français group said: “Although the amendment to increase taxation on horse-racing betting was rejected, it is essential to maintain pressure on the government and elected representatives.”
Good to know: Cancellations in French horseracing have only previously occurred during the World Wars and the pandemic
“This subject is likely to be brought up again in the Senate or at any other point in the budget adoption process, and it is vital that we make it clear to all politicians, through a strong mobilisation on Thursday, that we won't give up, because our jobs are at stake.”
Indeed, the budget is now going through the long process of passing through the French parliament.
Previously, in April, France Galop partnered with 1/ST Forge Alliance as part of a collaboration which aimed to enhance international participation and horseracing events in both France and North America. Further, in more recent news, Finland announced its plans to develop a fully regulated horseracing landscape earlier this week, as part of its plans to open a new de-monopolised gambling market in by 2026.
