The British government has withdrawn legislation that would result in the abolition of the Horserace Betting Levy Board (HBLB) on Apr. 1, the Racing Post reported on Tuesday. The Levy was extended to include betting operators based overseas after the government tweaked the central funding system in 2017. Another round of planned reforms began last fall, with the Gambling Commission due to take on the collection duties of the Levy Board and spending decisions rerouted to a new Racing Authority consisting of horse racing representatives after secondary legislation was introduced. That legislation reform order was halted when the secondary legislation was objected to on procedural reasons by a joint committee of MP's and peers in December. In the latest development, the government has withdrawn that LRO, but the Levy will remain under government review.
“We're thinking carefully about the implications for the HBLB following the government's decision not to pursue its LRO,” Levy Board Chairman Paul Lee told Racing Post. “Revenues have been very significantly enhanced by the changes made to the system and we'll now work closely with government to ensure the industry as a whole benefits from the stability which the decision not to pursue further reforms brings.”
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