Betfred threatens to shut all 1,300 shops over feared gambling raid

Core Viewpoint - Betfred warns that a proposed £3 billion tax increase on the gambling industry could lead to the closure of all its 1,300 high street betting shops, resulting in the loss of 6,800 jobs [1][2]. Group 1: Impact of Proposed Tax Increases - The proposed tax measures, advocated by Gordon Brown and the IPPR, could potentially raise around £3.4 billion annually by 2030, with the gambling sector already expected to contribute £3.8 billion in tax revenues this financial year [3]. - Betfred's CEO, Joanne Whittaker, stated that increasing tax rates to the levels suggested would make the retail betting sector financially unviable, leading to the closure of betting shops nationwide and the loss of approximately 46,000 jobs [6]. Group 2: Economic Consequences - Whittaker expressed concerns that raising taxes could have adverse effects, such as reducing tax revenue, accelerating the growth of the black market, and eliminating thousands of jobs in vulnerable communities [4]. - The potential closure of betting shops could severely impact high street presence, exacerbating challenges for town centers and other retailers already struggling under increasing tax burdens [5]. Group 3: Government Response - A Treasury spokesman indicated that the government does not comment on speculation regarding future tax policy changes [7].