TAX ON BETTING

Gisborne Herald, Volume LXXIII, Issue 22196, 5 December 1946, Page 8

TAX ON BETTING

STUDY IN BRITAIN FEASIBILITY OF LEVY LIKELY PUBLIC REACTION LONDON Dec. 3. The Chancellor of Inc Exchequer Dr. H. Dalton is believed to have completed the first draft of the new betting tax which envisages a tax of one penny in the shilling on all bets up to £5, twopence in the shilling on all bets over £5 up to £lO, threepence in the shilling on all bets over £lO, says the Daily Mail. Pool wins may be dealt with on the basis of amounts under £IOOO tax free, but all wins over £IOOO would be taxed at a standard rate of 9s in £l. The tax may be included in the next Budget in April. The reports that Dr. Dalton has decided to introduce a bets tax in the next Budget are ahead of the facts, says the Daily Herald's political correspondent. The truth is that the Chancellor, who is looking for possible new soui'ces of revenue, has asked Treasury officials to work out a scheme which would cover all forms of permitted betting. Consultations have occurred with people connected with racing on the feasibility of a tax based on a percentage of turnover. Some of them think that a considerable sum could be raised, but before the coming decision Dr. Dalton has to consider both the likely public reaction and the practicability of the plan. He is not anxious to repeat the fiasco of the 1926 Betting Bill which had to be abandoned after three years.