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MP urged bingo tax cut
1:49pm Friday 11th April 2014 in News
The MP for Burley-in-Wharfedale and Menston has revealed he was a key figure in lobbying for the bingo halls tax cut.
Shipley constituency MP Philip Davies demanded that bingo hall profits currently taxed at 20 per cent were reduced in line with other forms of betting – a measure announced by Chancellor George Osborne in the Budget.
Mr Davies feared the disparity in tax with other forms of gambling was adding to the closure of clubs and ultimately job losses.
Mr Davies said: “I am delighted that the Chancellor recognised the case that my colleagues and I put to him about the tax on bingo. Bingo plays an important role in many local communities, and it was unjust that it was taxed more harshly than other forms of gambling.”
Mr Osborne slashed the tax to 10 per cent, lower than expected. Bookmakers pay 15 per cent along with fixed odds betting and 12 per cent tax is paid on the price of a lottery ticket. The Chancellor increased tax on fixed-odds betting terminals from 20 to 25 per cent.