To ask the Secretary of State for Culture, Media and Sport, what assessment her Department has made of the potential economic impact on the horseracing industry of the full implementation of financial risk assessments for gambling.

The Government recognises the significant contribution that racing makes to British sporting culture and its importance to the British economy. Horseracing is the only sport in receipt of a direct government-mandated levy which helps to drive improvements in the sport.

The Government remains committed to supporting the implementation of key measures in the 2023 white paper, including the introduction of Financial Risk Assessments (FRAs).

Following the conclusion of its pilot on FRAs, the Gambling Commission has continued to engage with gambling operators and other stakeholders. As the independent regulator, the Gambling Commission will decide how to implement FRAs based on the best available evidence.

The Gambling Commission has recently published an updated blog on its pilot findings and plans to publish the pilot data, including updated impact assessment results following implementation decision, as is standard practice.