Portugal Colonial - British horse racing strikes over proposed tax rise on betting

All four scheduled meetings have been cancelled and rescheduled in an unprecedented move in the modern history of the sport.

Leading jockeys, trainers and owners will lobby lawmakers at an event in London on Wednesday as part of the "Axe the Racing Tax" campaign.

The government is considering proposals to raise the rate of tax on racing bets online, currently 15 percent, to 21 percent -- aligning it with online gaming such as casino and slot games.

Economic analysis commissioned by the British Horseracing Authority (BHA) suggests such a rise could cost racing at least £66 million ($89 million) and put 2,752 jobs at risk in the first year.

BHA chairman Charles Allen described it as "nothing short of an existential threat for our sport" and has called for a united front to oppose the move.

"We need every part of our industry –- trainers, jockeys, stable staff, racecourses, and fans -– to stand together and make their voices heard," he said.

"We are Britain's second-largest spectator sport, supporting 85,000 jobs and delivering over £4 billion of economic value every year.

"Yet all of this is now being put at risk by a change that would devastate our funding model and the livelihoods that depend on it."

Paul Johnson, chief executive of the National Trainers Federation, believes the issue could be "defining moment" for the sport.

"Numerous businesses depend on a healthy racing industry," he said. "These proposals would set us on a path where British racing will lose its world-leading status and international investment will be reduced.

"The best horses will no longer be bred, owned, trained and raced in Great Britain. The best races will no longer take place in Great Britain."

A decision on any tax rise would be announced in the government's budget, an annual tax and spending plan, on November 26.

Dan Tomlinson, Exchequer Secretary to the Treasury (finance ministry), said racing's role in the "cultural fabric" of Britain was recognised and underlined there has been no announcement yet.

"The Chancellor (finance minister Rachel Reeves) has been clear that speculation on tax rises, which is what this is, is not only inaccurate, but also irresponsible," he said.

"We have not announced an increase in the tax on horse race betting, and racecourse betting currently gets a 100 percent tax break, which we have no plans to change."

L.Carrico--PC