Clause 7 - General betting duty: betting exchanges
Finance Bill
10:30 am
Mr George Howarth (Knowsley North and Sefton East, Labour)
Let me take this opportunity to welcome you to the Chair, Sir Nicholas. I know from long experience of dealing with you that you are always fair and, as you rightly point out, firm. I will seek constantly to bring out your fair side rather than the firm.
I begin by drawing the Committee's attention to the fact that I have a relevant registered interest in these matters. I am a remunerated adviser to William Hill and I do not want there to be any doubt about that relationship. I also have considerable constituency interest in that Bet Direct, which is one of the biggest telephone betting services, is based in Kirby in my constituency, and Ladbrokes has a call centre in the Aintree part of my constituency. Both of those concerns are responsible for a number of my constituent's jobs and are a significant part of the local economy. I am also very proud to have Aintree race course in my constituency. Since the arrangements in the clause have an impact on racing, that is important. Finally, I am pleased to draw attention to another interest: I am a part-owner, together with several hon. Friends, of a two-year-old bay filly known as Theatre Bell. I am not sure whether that is an interest, because so far all it has done has cost me money, but we live in hope.
Amendments Nos. 126, 127 and 128 are essentially definitional. They describe the relationship between
the various parts of betting exchanges. The crucial one is amendment No. 129, which proposes an alternative tax regime to that which the Treasury has proposed. I am grateful to my hon. Friend the Economic Secretary; we have discussed the matter previously and he wrote to me earlier this week. He said that he was hoping to create a level playing field through the arrangements, which is a perfectly proper way for the Treasury to proceed. I will comment on whether or not it is a level playing field shortly.
However, I should point out that my hon. Friend the Minister for Sport repeatedly makes the claim, which I think is justified, that we in this country have an industry of which we can be proud. Its integrity is not open to question, which is not true of other betting industries internationally. He has made a convincing case that the betting industry is part of a wider entertainment industry and an important part of the economy. My right hon. Friend the Chancellor recognised that when he introduced gross profits tax, which has been widely welcomed. As my hon. Friend the Economic Secretary pointed out, it has been a huge success in allowing the industry to grow and take its place as a worldwide centre of excellence for those who wish to bet. It has had the effect of bringing some offshore interests back onshore, thereby ensuring that they are properly regulated.
I am grateful and indebted to the Association of British Bookmakers for its assistance in preparing the amendments. I should draw attention to a letter that I have received. It was sent to me only yesterday, and I do not know whether other hon. Members have had copies of it.
Adam Price indicated assent.