Feetham Warns UK Parties of Gambling Tax Risks

Gibraltar Minister for Trade and Industry Nigel Feetham stepped up his lobbying ahead of the UK budget due to be announced on 28 October. Feetham warned that planned new increases in gambling taxes could hurt Gibraltar-based operators, jobs on the island and tax revenues.

According to a report by Gibraltar Broadcasting Corporation, Feetham met Reform UK leader Nigel Farage, Robert Jenrick and MP Andrew Rosindell. The minister also hosted a gaming industry breakfast in London. Industry executives and politicians from several parties attended.

The industry's main concern is a possible increase in the Machine Games Duty. Earlier estimates suggested the rate, currently 20 percent, could rise to 40 percent. Latest expectations point to a smaller increase of around 25 percent.

Such an increase would directly affect betting shops, adult gaming centres and bingo halls across the UK. Industry representatives say that further rises in operating costs could lead to job losses and venue closures.

According to Feetham, the online betting and gaming sector accounts for around 30 percent of Gibraltar's gross domestic product, nearly a third of its tax revenues and more than 3,000 jobs. He also pointed to Flutter's plan to cut 1,400 jobs in the UK, Ireland and continental Europe following earlier tax increases, which has heightened employment concerns. Farage has previously opposed further gambling tax rises, saying they would harm high street betting shops.