Budget 2026 LIVE: Machine games duty hiked in move that could wipe millions from British racing's income
The UK government has increased the Machine Games Duty (MGD) in its latest budget. This change is expected to significantly reduce the income of the British horse racing industry, potentially by millions of pounds.
Background
The Machine Games Duty is a tax levied on electronic gaming machines. The British horse racing industry relies heavily on income generated from betting on races, which often involves gaming machines. Budget proposals are typically aimed at balancing government finances and can affect various sectors of the economy.
Why it matters
The increase in MGD is likely intended to generate additional revenue for the government. For the racing industry, this represents an unexpected financial challenge that could impact its operations and investments.
Possible impact
This hike could lead to financial strain for racecourses, trainers, and associated businesses within the British racing sector. It may also affect the overall competitiveness and future development of horse racing in the UK.