Rishi met leading Middleham trainer Jedd O’Keefe and his wife Andrea, who works in the industry, to discuss Government plans to increase the tax on betting on horseracing.
The meeting came on the same day the sport staged its first ever nationwide shutdown, branded ‘Racing Cancelled’, to highlight the risks posed by the proposals.
The Government is considering increasing the tax on horseracing betting from 15 per cent to 21 per cent.
Industry analysis suggests this could cost operators over £40 million each year. The British Horseracing Authority has warned it could result in a £66 million annual hit to racing through lost levy, sponsorship, and media rights, putting thousands of jobs at risk.
Racing already supports 85,000 jobs across the UK and contributes more than £300 million to the Treasury each year. It is the country’s second largest spectator sport, with more than 5 million people attending races annually.
Jedd, a successful trainer who has been based in Middleham for more than 30 years, told Rishi that the tax plans would undermine the viability of training yards and the livelihoods of those who depend on the sport.
Rishi said: "Racing is not just a sport but a way of life for many families in North Yorkshire and across the country. It is a unique part of our cultural heritage, woven into the identity of areas like Middleham, and it supports thousands of jobs, from trainers and stable staff to local businesses.”
Jedd O’ Keefe said: “Rishi clearly understands how important the industry is, both culturally and economically, especially to rural areas. If the Government’s tax increase goes ahead it would have a hugely damaging effect on racing, with smaller businesses like ours being the first to suffer."
