§ Sir C. Osborne
asked the Chancellor of the Exchequer if he is aware that a minority interest in a syndicate owning the betting shops which started operating 18 months ago has just been sold for £260,000; what steps he is taking to tax this kind of business; and if he will make a statement.
§ Mr. du Cann
My right hon. Friend is aware of the report of a recent offer of shares in a betting shop business. The profits of running a betting shop are chargeable to Income Tax and Profits Tax in the same way as the profits of any other business. I cannot make any statement at present as to the possibilities of further betting taxation.