Reeves to tax online gambling associated with ‘highest levels of harm’
- Rachel Reeves has announced steep increases in online gambling tax associated with the "highest levels of harm" across the sector.
- Remote gaming duty will increase from 21% to 40%, while levies on online betting will rise from 15% to 25%.
- The Chancellor said she was reforming gambling taxes in response to the rise in online gambling, with the measures expected to raise over £1 billion per year by 2031.
- Treasury Select Committee chairwoman Dame Meg Hillier said online slots and other remote gaming “can quickly drain the bank balances of vulnerable people.”
- Betting companies and industry groups have warned that steep increases in levies could push people on to the black market while threatening jobs and investment.