Coveney to propose doubling of betting tax

AGRICULTURE Minister Simon Coveney intends to bring proposals to government to double the betting tax.

The move could generate up to €100 million annually for the Government. It would see the tax doubled to 2% of amounts wagered by consumers in order to help sufficiently fund the horse and greyhound racing industry.

Mr Coveney said the previous government had wrongly cut the betting tax right down and the Exchequer was now having to fund the industry.