Proposed racing regulations could lead to a £50 million loss and job cuts.
The British Horseracing Authority is sounding the alarm over new proposals that could see the racing industry facing a staggering £50 million annual hit and significant job losses. The urgent call to action comes ahead of a crucial debate on affordability checks scheduled to take place in Westminster Hall next Monday.
This upcoming debate marks a pivotal opportunity for Members of Parliament to delve into the details of the proposed "frictionless" checks, spurred by an e-petition signed by over 100,000 individuals, triggering parliamentary discourse on the matter.
Expressing grave concerns, the BHA cautions that up to 1,000 stable staff jobs could be at risk if the proposed scheme is implemented. In a statement, the BHA highlighted the widespread public resistance to affordability checks, emphasising the belief that individuals should be able to engage in lawful leisure activities without facing overarching state-mandated economic limits.
Julie Harrington, the CEO of the BHA, underscored the urgency of the situation, citing data that underscores the potential devastating impact on employment if the current betting checks are enforced. Harrington stressed the need for thorough parliamentary debate on the issue, urging MPs to engage in discussions to ensure a fair balance between safeguarding vulnerable customers and enabling responsible gambling practices.
The BHA has been actively engaging with various stakeholders within the industry to raise awareness and encourage MPs to participate in the upcoming debate. Racing enthusiasts have also lent their voices by reaching out to their respective MPs through various platforms, amplifying concerns over the unintended repercussions that these regulations could have on the sport.
While the immediate reversal of government policy may not be guaranteed, stakeholders are hopeful that a robust parliamentary turnout will shed light on the critical need for a more nuanced approach that protects both vulnerable consumers and those who engage in gambling responsibly.