The chief executive of the British Horseracing Authority warned on Wednesday that a tax increase in the budget may have a "devastating" impact on the sport, according to The Guardian's report on the warning.
The Guardian reported that Brant Dunshea said the sport's ruling body will urgently open talks with the government to work out how the two can work together to reduce the impact of the change. The change is an increase in tax on gaming machines, and the Guardian's summary says John Healey, the chancellor, raised the duty on the profits, a detail the summary leaves incomplete.
The Guardian also reported that Dunshea said thousands of betting shops may close, and the summary gives no further figure or location for those closures.
The material available for this report is a summary of The Guardian's article, and it does not state the size of the tax increase, when it would take effect, or the full wording of the duty change.
The Guardian's headline described the increase as a budget tax hike, and its summary identifies the chancellor as John Healey.
The article was written by Greg Wood and published on Wednesday. Its summary describes it as a call for urgent talks after the gaming machines tax increase, according to The Guardian.
According to The Guardian, the British Horseracing Authority is the sport's ruling body, and Dunshea is its chief executive.
Sources: The Guardian: British racing chief warns budget tax hike may have ‘devastating’ impact on sport.