LETTER: Fairer funding
I would like to put on the record our sincere thanks to Sir Nicholas Soames MP and many others in the local community who have supported our national campaign to secure a better funding deal for the British Racing industry.
The Government has confirmed that it will fast-track the introduction of a fair and sustainable funding mechanism for horseracing from betting activity by April 2017. This will close the loophole in the current system which has allowed offshore remote betting operators – through which 40 per cent and rising of all betting activity takes place – to avoid making a contribution to our sport.
This is a landmark moment in our fight for a fairer funding deal for British Racing, which has been supported by a cross-party group of Parliamentarians, industry stakeholders and sporting personalities. It means a brighter future for the UK’s second largest sport and the 85,000 people who earn their living from British Racing.
Chief Executive, British Horseracing Authority
High Holborn, London
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