Top trainer: Racing tax hike is a 'car crash' error

ONE of the world's top trainers says Rachel Reeves's proposed horseracing tax hike could "bring the sport to its knees".

- By Chris Riches

John Gosden said the Chancellor's plan to lump the "sport of kings" with online poker, roulette and slot machines was a "car crash" error.

It comes as research by the British Horseracing Authority (BHA) claims the proposed ultrahigh tax on the industry could trigger a £330million revenue hit in the first five years and put 2,752 jobs at risk in the first year alone.

Separate taxes currently apply for online bookies, depending on if punters bet on real-life horseracing (15%) or virtual casino games (21%).

But the Treasury is looking at a "one size fits all" tax, merging horseracing and virtual online gaming at the higher rate.