The Treasury is considering a substantial tax increase on the British gambling sector, with proposals ranging from £900 million to £3 billion, raising concerns among investors.
Following news of potential tax hikes, shares in major gambling firms like Flutter and Entain plummeted, illustrating the market's negative reaction to government scrutiny of the industry.
Chancellor Rachel Reeves faces pressure to find additional revenue sources to address a £22 billion budget deficit, with the gambling industry being targeted for significant tax increases.
Analysts predict the government may favor the lower end of proposed tax increases on the gambling industry, but still predict tougher regulations and tax burdens for operators.
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