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Racecourse Betting Control Board

Volume 466: debated on Monday 4 July 1949

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asked the Chancellor of the Exchequer what revenue he obtains from the operation of the totalisator by the Racecourse Betting Control Board; and what revenue he would have obtained from a 20 per cent. tax on amounts invested with the totalisator during 1947 and 1948 respectively.

The Racecourse Betting Control Board is subject to the ordinary liability to taxation on its profits. A tax of 20 per cent. on amounts invested with the totalisator, while betting with the bookmakers remained untaxed, would have greatly reduced the turnover, and it is impossible to say what would have been the hypothetical yield.