The first and more serious proposal was from the IPPR, involving doubling various gambling-related taxes, including the 15% duty on profits from betting shops. Such an increase would significantly burden brick-and-mortar venues already struggling with high bills, making it unsustainable for many to operate and potentially leading to widespread closures across the country. This could have generated around £3 billion in additional revenue, fundamentally altering the landscape of the UK's gambling industry.
The second proposal from the SMF suggested raising taxes for online gambling from 21% to 50%. This dramatic increase could have generated an additional £9 billion for the government. However, the impact on the online sector could have been substantial, possibly driving some companies away from the market due to the unsustainable taxation structure, thereby reducing competition and innovation in the online gambling sphere.
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