Clause 6 - General betting duty and pool betting duty: relief for losses
Finance Bill
10:15 am
Mr John Healey (Economic Secretary, HM Treasury; Wentworth, Labour)
Since my hon. Friend presses me, an article published last year in The Economic Journal concluded:
''The switch to a gross profits tax is likely to lead to lower prices and enhanced consumer welfare . . . Further, the switch will . . . enhance the ability of UK betting firms to compete in an increasingly competitive environment.''
Research has indeed confirmed that the gross profits tax is more efficient, fairer and more sustainable than the former regime.