Perhaps one of the hottest topics of the week was the news that the government could be approaching a double-digit increase in the gambling tax, both on land-based and off-site games. United Kingdom.
DCMS notes gambling tax concerns may be overblown
The news, originally reported by The Guardian, a respected media outlet, and then picked up by other publications, caused a stir in the industry and provoked strong reactions from trade groups who called the idea “fantasy” and from interested parties who did not soften his words. and said the double-digit tax increase was “just stupid.”
Flutter Entertainment CEO Peter Jackson was one of those who said there was no way this would end well for the industry, and the company’s stock fell on the initial news.
Now, however, Department of Culture, MediaAND Sport (DCMS) Secretary of State Lisa Nandi He said the government, as always, supports the thriving gaming industry and that you can’t believe everything “you read in the newspapers.”
Nandy was answering questions in the House of Commons during which he argued that DCMS and all the people working to reform the current structure of gambling recognize the value of the gambling industry and efforts to change regulation are based on achieving the ” correct balance.
“We recognize the value of this industry and its importance not only to the UK economy, but also to the joy it brings to many, many people and the job prospects it offers to people in every country and the world. UK region, – said Nandy.
Play is important, but so is addressing the problems it causes.
However, he did not lose sight of the fact that the game is also associated with many problems. That is why the current government has committed to working with a wide range of experts to ensure people are protected from excessive gambling and to ensure the industry can continue to grow.
Nandy’s recent announcement does not rule out tax increases, but it also reinforces confidence among industry bigwigs that rumors of double-digit tax increases may be speculation. However, The Guardian’s sources suggested there is no serious opposition and the public seems happy to see the gaming industry bearing the brunt of any decision aimed at shoring up public coffers.
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