RACHEL Reeves was warned last night not to hit betting and holiday firms with a “tax on fun” at the Budget.
If gambling taxes are hiked, Betfred‘s 1,300 High Street shops could close along with 7,000 jobs.
And tour operators say holiday costs will rise if they are taxed more next month, as the Chancellor faces a potential £30billion financial black hole.
Warrington-based bookmaker Betfred says possible rises in duty on sports betting from 15 to 30 per cent and on online slots from 20 to 50 per cent would force it to close all of its shops.
Betfred is owned by Fred and Peter Done. The family is the UK’s second-biggest taxpayers.
Chief executive Joanne Whittaker said: “The most frightening element is we’re going to lose the whole retail business. I’m not scaremongering.”
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She said tax revenue will drop and cause more black market betting and added: “The safest place for anyone to have a bet is with a UK- regulated bookmaker.
“We don’t need people looking down on the people that choose to have a bet.”
Meanwhile, Tui and Jet2 say prices will rise if their taxes go up. Tui UK managing director Neil Swanson said: “We won’t be able to absorb the extra costs.
“We’ll need to pass some or all of it on. That’s going to price some people out of the market.”
Jet2 said Middle England can’t be used as a “cash cow”.
Shadow Business Secretary Andrew Griffith said last night: “Rachel Reeves must immediately kill off any suggestion of taxing things that make life bearable like a week in the sun or the occasional flutter.”
