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a £22 billion fiscal shortfall, the report urges the government to capitalise on this opportunity, restructuring the outdated tax system and addressing the social costs associated with gambling.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
UK’s third-biggest taxpayer Chris Rokos to leave for Greece
Chris Rokos, the hedge fund billionaire ranked third on The Sunday Times list of Britain’s top taxpayers after paying £330m...
Hunter Biden turns laptop scandal into memecoin
The former US president’s son will launch one billion $LAPTOP tokens and offer free coins to some investors who lost...
Britain is using AI. So why isn’t it getting more productive?
Artificial intelligence has crossed an important threshold in British business. It’s no longer something companies are merely discussing, testing in...
Policy unpredictability cost UK nearly £2tn in investment, study finds
The UK has missed out on nearly £2tn of investment in business and infrastructure over the past quarter of a...
AI use by UK small businesses more than doubles to 47 per cent
Almost half of UK small business owners are now using artificial intelligence tools, according to research released on 8 September...
Kendall Jenner buys stake in London drinks brand Trip
Kendall Jenner, the American model and reality television star, has acquired a minority stake in Trip, the London-based drinks and...
