Chancellor’s Budget Keeps the Games Kidnapped: Betting Firms Feel the Pinch
What the Market Was Saying
- Entain (parent of Ladbrokes and Coral) took a 9% hit on Monday after whispers that Chancellor Rachel Reeves might “double down” on the taxes that bookies and online casino operators pay.
- Rivals 888 Group, Evoke, and William Hill all fell about 12% in a flurry of nervous trading.
- Paddy Power’s parent Flutter slipped 5%, as did Rank, which owns Grovenor Casinos and Mecca Bingo.
Why the Fears Are No Jack‑Of‑All‑Trades
Reeves is set to unveil the upcoming Autumn Budget this month. Inside, there’s talk of a “tax raid” that could net the Treasury an extra £3 billion. That’s enough to buy you a few extra chips, but for gamblers, it means more bureaucracy at every turn.
Market Mood: From Payout to Pay‑Check
It’s a classic “one‑day market setback” – nothing we haven’t seen before. But for those who rely on gaming profits to keep the lights on, it feels like a sudden card shuffle that leaves some hands empty.
Bottom Line
With the Chancellor’s plans looming, seatbelts are being fastened not over the checkered flag but over the checkered calculators of these gambling giants. Market watchers will need to keep their eyes on the numbers – because every tax tweak could mean a different tally on the betting table.
Tories warn Labour has ‘opened the door’ to raise national insurance and tax
Mullins takes a flying punch to the Treasury—Labour’s tax chaos exposed
Ever seen a tax argument that feels like a circus act? Mullins just turned up on stage and slapped the Treasury into a whirlwind of outrage, calling Labour’s “tax laws” “stupid, idiotic” and “so messy you’d need a whistle to untangle them.”
What went down?
- Mullins’ headline attack: “Labour’s tax laws are so ridiculous they’re practically a joke!”
- Govs baton: The Treasury summons its chief tax warriors to “clarify” the chaos.
- Public reaction: Fury or amusement? Communities split into “whops” and “whoa.”
Why the fury?
Labour has introduced a patchwork of incentives that should boost investment but feel torn from a comic strip. The new bill offers:
- Double the tariff credits—but only for businesses that can correctly sign a 50‑page form.
- Flat interest rates on loans that change quarterly like a weather forecast from a TV meteorologist.
- “Revenue roaming” rules that let accounts hop between tax jurisdictions as if it were a game of hop‑scotch.
“Independently, it’s been a nightmare…” says Mullins. “And I’ve spent more time scrolling through policy documents than a student scrolling through memes.”
What happens next? – The grand tax showdown is just getting started.
While the Treasury is reportedly pulling out coffee and legal wizards alike, the public is strapped in for a ride. Will the changes hit the sweet spot? Will they trigger a tax apocalypse or a commercial win? Only time, and a whole lot of spreadsheets, will tell.
Labour, CGT and a horror show just before Halloween
Labour’s New Plan: Tweaking Your National Insurance
*In a move that’s sparking eyebrows across the UK, Labour is hinting at bumping up the employee national insurance contribution in the upcoming Autumn Budget. The idea, floated by the Institute for Public Policy Research and the Social Market Foundation, is to squeeze out more revenue without piling on extra taxes for the everyday worker.
What the Experts are Saying
- Investment Director Russ Mould (AJ Bell): “Labour’s hunting for a revenue fix, but it seems they’re shying away from the classic tax increase on the working masses.”
- He added that “bingo and the lottery appear to be exempt from any tax tweak, which might keep those calm crowds in the same boat.”
- Mould warned that higher betting taxes could push punters into the shadows, possibly creating a black‑market boom that the industry might then shift onto the players, doing more harm than good.
Why This Matters for You
Higher NI rates could mean a bigger drag on your take‑home pay. And with tighter regulation looming, the betting sector—and potentially other “fun‑money” industries—might pass these extra costs onto consumers.
Official Stance
A Treasury spokesperson kept it short: “We don’t comment on speculative tax changes outside of fiscal events.” So, stay tuned and keep an eye on the budget announcements.
