UK Levy Board backs Government action

The Levy Board has re-iterated its support for the British Government in its attempt to get off-shore betting operators to contribute to racing’s coffers.

In its annual report, Levy Board chairman Paul Lee confirms their backing for the Government in its intention to address off-shore betting issues.

Lee stresses that the current structure “is not a level playing field for on-shore operators and that a Levy contribution from those off-shore would ’transform’ Levy yield”.

The Levy Board’s accounts show that the total yield for the 49th Levy Scheme (2010/11) was £59.5m, a fall from £75.4m for the 48th scheme, which was itself a reduction on the 47th yield of £90.6m.

Lee points out the Board’s sensible and prudent response to a challenging year due to the significant fall in income as well as to its commitment to setting a balanced budget in the current year.