Betfred says all its shops may close if UK hikes gambling tax

OCT 19 - All 1,287 Betfred shops could disappear from the UK High Street if Chancellor Rachel Reeves hikes taxes on gambling firms, the company's Kenya breaking news | Kenya news today |..

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Betfred co-founder Fred Done has warned that all 1,287 Betfred shops in the UK, employing 7,500 people, could close if Chancellor Rachel Reeves increases taxes on gambling firms.

Fred Done stated a tax hike to even 35% or 40% would eliminate profit, forcing closures and putting 7,500 jobs at risk.
Chancellor Rachel Reeves has indicated a belief that gambling firms should "pay their fair share of taxes," with suggestions for tax increases up to 50%, potentially raising £3.2 billion.
The gambling industry, including William Hill and Paddy Power, has resisted these calls, citing existing high taxes and warning of gamblers being pushed to the black market.

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