Racing: Walwyn flexes muscles

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The Independent Online
LUCA CUMANI, Jack Berry and Peter Walwyn went to Westminster yesterday for a meeting with MPs to discuss the consequences for the breeding industry of high VAT rates. From 1 January, horse sales in Britain will be subject to a VAT rate of 17.5 per cent, as opposed to 5.5 per cent in France and 2.7 per cent in Ireland.

And in a Commons debate on Monday, the Government made it clear that there would be no tax concessions on bloodstock. 'That was a typically negative reply, and it's time we showed more muscle,' Walwyn said. 'Foreign governments, notably those in Ireland and France, are much more sympathetic to their racing industries.'

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