Football legend Michael Owen and renowned composer Sir Andrew Lloyd Webber are part of a group of celebrities advocating against a proposed increase in betting tax. The proponents of the tax hike aim to use the additional funds to combat child poverty. However, opponents, including Owen and others, argue that such a move could severely impact the horse racing industry and jeopardize thousands of jobs.

Former Prime Minister Gordon Brown recently called for the tax increase to help alleviate child poverty, suggesting it could generate £3.2 billion to lift 500,000 children out of poverty. Brown highlighted the urgent need to address deep poverty affecting British youth, warning of the potential dire consequences if action is not taken promptly.

Expressing concerns over the proposed tax adjustments, industry leaders, along with over 360 prominent figures, penned an open letter opposing the changes. Owen, a former Ballon d’Or recipient and ex-Liverpool striker who now owns a racing club in Cheshire, emphasized the potential negative impact on British racing and the broader economy.

Five-time champion jockey Oisin Murphy and top trainer Paul Nicholls echoed similar apprehensions, emphasizing the vulnerability of the sport and urging the Treasury to carefully evaluate the ramifications of the proposed tax increases. The letter specifically urges Rachel Reeves to reconsider merging betting and gaming taxes into a single duty, a move that could have significant repercussions on the industry.

Betting giant Betfred warned of potential shop closures and job losses if the tax hike is implemented, with owner Fred Done describing it as a major threat to the industry. Despite the opposition, Brown previously advocated for higher taxes on the gambling sector, emphasizing the potential benefits for supporting children in need.

In response, a Treasury spokesperson clarified that the proposed tax adjustment would solely affect remote gambling, reassuring that horse racing, as a vital cultural entity, would continue to receive government support. The spokesperson emphasized the government’s commitment to balancing revenue generation with fostering growth and investment in rural communities.