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flag UK gambling tax hikes may cost 40,000 jobs and £3.1B in economic output, industry warns.

flag Proposed UK gambling tax hikes, including a potential 25% rate on sports betting, could cost 40,000 jobs and reduce the economy by £3.1 billion, according to an EY report commissioned by the Betting and Gaming Council. flag Industry leaders, including Michael Owen and Sir Andrew Lloyd Webber, warn the changes would devastate horse racing, harm pubs and local businesses, and push £8.4 billion in betting to illegal markets. flag While some advocate for higher taxes to combat child poverty, opponents argue the revenue gains would be minimal and the economic and cultural costs too high.

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