The Chancellor's rise in Machine Games Duty is drawing criticism from gambling campaigners and from the betting industry. John Healey is raising the duty from 20% to 25% on higher-stakes machines.
Campaigners, who had pushed for a 40% rate, call the rise a missed opportunity, the Morning Star reports.
The Betting and Gaming Council warns of shop closures and job losses, according to Reuters. Reuters says analysis commissioned by the council claimed that doubling the duty could close up to 1,470 betting shops and cost 15,900 jobs. Those figures model a doubling of the duty. The rise Healey actually sets is from 20% to 25%, so they do not measure the effect of this Budget's change.
Reuters names Entain and Evoke among the companies affected.
In his statement, Healey says the measure helps fund his high street package. He tells MPs: "To pay for this support for our high streets, I am raising taxes on gambling." He says this is "by increasing Machine Games Duty from 20 per cent to 25 per cent for higher stakes machines, while protecting pubs and seaside arcades."