Bingo Association unhappy with Budget

Bingo Association fear that their industry has been “ignored” by today’s Budget.

Chief executive Miles Baron says the bingo sector is concerned that it will “not benefit” from the measures announced by Chancellor George Osborne this afternoon.

A statement released by the trade association criticises the current “inequitable” tax regime that sees bingo firms pay a 20% gross profits tax while those in other forms of gambling, including online bingo, only pay 15%.

The organisation are calling for a tax reduction in order to “stimulate growth”, quoting data from accountancy firm Ernst & Young which states that a tax decrease to 15% would increase government revenues by £35m over a four-year period, something the Association say would fit in with the Government’s growth agenda in a “direct and immediate” way.

“This tax burden is stifling the growth of our industry, remaining the single biggest constraint on the financial viability of bingo clubs, restricting investment and being a significant contributor to the closure of an average of one club per month,” said Baron.

“The Government should be more willing to lower taxes when there is direct evidence that it will stimulate growth.”

“The Culture, Media and Sport Select Committee recently recommended that bingo tax be reduced, and The Bingo Association is disappointed that the Government has failed to act on this yet again.”