UK Finance Minister Rachel Reeves considers a gambling sector tax hike in her October 30 budget, aiming to raise £900m-£3bn to address a £22bn deficit.
UK Finance Minister Rachel Reeves is considering a tax hike for the gambling sector in her upcoming budget on October 30, aiming to raise between £900 million and £3 billion to address a £22 billion budget deficit. This news has led to significant declines in shares of major gambling companies, including Entain, Evoke, and Flutter, with losses exceeding £3 billion in market value. Analysts warn that increased taxes could drive gambling underground and elevate costs for consumers.
October 14, 2024
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