BUSINESS

Levy debate goes live

TAGs: horseracing levy

levy-debate-liveThe horseracing industry in the UK is currently at quite a crossroads as we enter 2011. With the future of the Tote set to be decided within the next month or so, there’s also the lingering issue of the horserace levy and whether there should be any changes in the near future.

Already earlier this week William Hill unveiled plans to uncover the truth behind what is going on with the horse race levy. Today sees the tabling of a motion in parliament regarding the continuing debate on the levy. After the gambling industry and horse racing industry couldn’t come to an agreement late last year it’s now down to politicians to make the decision.

Matthew Hancock, MP for the horseracing hotbed of Newmarket, is planning to tell the House of Commons that the industry needs a commercially based mechanism similar to that, which governs intellectual property rights.

Hancock said the presence of John Penrose MP, a minister at the Department for Culture, Media and Sport, “will be crucial because he will be able to answer all the points that are made”.

He continued by saying: “Then, in the long term, both racing and the bookies have said that they want this to be a commercial relationship. I think that Levy adjudication pits racing and betting against each other, and leads to a more antagonistic relationship than is good for anybody. If it could be put on a commercial basis, it would be better for everybody.”

The debate can be followed at this link, beginning at around 12:30pm. You are also able to view the debate from the start on the same site.

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