UK Shadow heritage Secretary Harriet Harman, who a week ago outlined her plans for an extra levy on all types of recreations betting, online and off. (Image: theguardian.com)
The currency markets had reacted badly to news that the UK Labour Party is planning a levy that is multimillion-pound all sports betting, online and off, should it be elected in 2015. Ladbrokes plc dropped 3.16 percent, while William Hill plc fell 2.88 percent immediately following the announcement by Labour’s Shadow society Secretary Harriet Harman week that is last. The levy shall be much like that currently applied to horseracing betting, the revenue from which, some £82 million ($139.314 million) in 2014, is ploughed back into the horseracing industry.
More Cash, More Sports
The scheme that is new section of Labour’s ‘More Sport for All’ incentive, that will understand extra revenue raised from sports gambling going primarily to the growth of grassroots activities, with some going to the remedy for problem gambling. Harman also said she is considering the introduction of a ‘proper levy’ on revenue derived by the Premier League from the sale of soccer television liberties, which will likely be spent on developing grassroots football.
‘we had been all proud to host the Olympics and Paralympic Games in London two years ago but alternatively of seeing increased participation, things have got worse especially amongst young people as a outcome of the Continue reading “UK Bookmakers Threatened with Mandatory New Levy”