The UK Government is set to launch a ten week consultation into the possible reform of the horseracing levy.
UK sports minister Helen Grant, had asked the government to review the current framework of the levy, stating that it had been in need of a review and possible reform for some time.
Grant commented “”Horseracing and betting have grown together over the last 200 years with each helping to shape the other. They have a unique and entirely interdependent relationship.
“The levy is a fine idea that helps maintain the health of the sport but it is not working as well as it should.
“It urgently needs to reflect the modern reality of horseracing and betting and the consultation will help us determine how best to bring it up to date.”
The planned ten week consultation, will ask key stakeholders within both the government and the private horse racing sector on how to best reform the levy’s framework, and make it more efficient for all parties involved.
Stakeholders will be asked their views on two options, whether to reform the existing framework or replace it altogether with a new set of propositions.