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Future of Horseracing — [Stewart Hosie in the Chair]

25 October 2023

Lead MP

Matthew Hancock
West Suffolk
Con

Responding Minister

Stuart Andrew

Tags

Culture, Media & SportAgriculture & Rural Affairs
Word Count: 13668
Other Contributors: 17

At a Glance

Matthew Hancock raised concerns about future of horseracing — [stewart hosie in the chair] in Westminster Hall. A government minister responded.

Key Requests to Government:

The Minister needs to reform the horseracing levy so that offshore races count for the levy, increase prize money, ensure necessary occupations are on the shortage occupation list, and address the unintended consequences of affordability checks that drive bettors towards unregulated platforms. The policy is damaging horseracing economically and socially.

How the Debate Unfolded

MPs spoke in turn to share their views and ask questions. Here's what each person said:

Lead Contributor

West Suffolk
Opened the debate
British horseracing is essential to the country's culture, heritage, and economy, providing over £4 billion in economic activity annually with nearly 100,000 jobs. The sport faces challenges due to modern technology and affordability checks that push bettors towards unregulated platforms, leading to a decrease in prize money and tax revenues. Newmarket, home to two of the finest racecourses, employs more than 7,000 people directly and indirectly.

Government Response

Stuart Andrew
Government Response
It is a pleasure to serve under your chairmanship, Mr Hosie. I thank my right hon. Friend the Member for West Suffolk (Matt Hancock) for securing this important and timely debate, and I appreciate his support for horse racing not only in his constituency but across Britain. The Government acknowledge the significant contribution that racing makes to our economy, supporting employment across racecourses, training yards, breeding operations and related sectors, reflecting a powerhouse industry that is respected at home and abroad. Horse racing is the second biggest sport in the UK with 65,000 to 70,000 people attending the grand national and 200,000 over the four days of the Cheltenham festival annually, contributing £4 billion to the economy. The levy has been extended to online bookmakers at a rate of 10%, seeing an almost doubling from £49 million to £95 million in recent years with forecasts for around £100 million in 2022-23. The Government are considering proposals submitted by the British Horseracing Authority (BHA) on closing the funding gap and conducting a review due by April next year, exploring options including legislation and voluntary agreements between racing and betting stakeholders. The BHA's concerns about financial risk checks outlined in the White Paper have been heard and addressed with the Gambling Commission working to develop a smoother process for assessments. Over 3,500 responses were received on financial risk checks from the Gambling Commission's consultation, highlighting the need for proportionate measures that protect those at risk of harm while minimizing disruption to the majority. The Government remain committed to supporting horseracing, which is vital to the rural economy and a source of great pleasure to many people.
Assessment & feedback
Summary accuracy

About Westminster Hall Debates

Westminster Hall debates are a chance for MPs to raise important issues affecting their constituents and get a response from a government minister. Unlike Prime Minister's Questions, these debates are more in-depth and collaborative. The MP who secured the debate speaks first, other MPs can contribute, and a minister responds with the government's position.