Majority of Britons back increased tax on online gambling as calls for reform grow ahead of Autumn Budget
New polling suggests that over half of Britons (52%) support increasing taxes on online gambling, with many prioritising a hike in gambling duties over other taxes such as income tax, VAT, and fuel duties.
This comes as the Social Market Foundation (SMF) releases a report advocating for a significant increase in Remote Gaming Duty from 21% to 42%, which could generate up to £900 million for the Treasury.
Online gambling, particularly casino gaming, has been linked to higher rates of harm, with fiscal costs estimated at over £1 billion. The SMF report, authored by Dr James Noyes and Dr Aveek Bhattacharya, argues that the sector is currently undertaxed and highlights that UK operators are paying higher taxes in other countries.
With the UK facing a £22 billion fiscal shortfall, the report urges the government to capitalise on this opportunity, restructuring the outdated tax system and addressing the social costs associated with gambling.
More Stories
10 Strategies Successful UK Entrepreneurs Use to Grow Their Businesses
Business growth rarely comes from one dramatic idea. More often, it comes from a series of sensible choices made consistently:...
Apple’s new iPhone lease poses a bigger question for SMEs: should staff phones be owned at all?
Apple’s decision to put iPhones, iPads and Macs on a formal leasing model in the United States looks at first...
Why AI Will Grow Your Job Before It Takes It
Something is happening more and more often in companies across industries and sizes, something that would have been out of...
Winding-Up Petitions Explained for UK Business Owners
Few pieces of business correspondence are likely to cause quite as much concern as a winding-up petition. If one lands...
The Last-Mile Challenge for Small Businesses: Making Short Journeys More Efficient
There is a striking paradox at the heart of small business logistics in the UK. The shortest journeys the ones...
Personal insolvencies jump 14 per cent as IVAs climb to highest level since 2022
The number of people entering insolvency in England and Wales was 14 per cent higher in July than in the...
