§ Mr. PageTo ask the Chancellor of the Exchequer how much revenue he expects the horse and greyhound racing industry to receive in the current financial year as a result of the 0–25 per cent. reduction in betting duty.
§ Sir John CopeThe reduction in general betting duty in the last Budget was from 8 to 7.75 per cent. This was 785W expected to reduce the revenue yield by £15 million in the current financial year, and the Chancellor announced his intention that the benefit of the reduction should be channelled back to the horse racing and greyhound industries themselves. The Home Secretary took account of the duty cut in determining this year's horserace betting levy; and discussions are still in progress between the greyhound industry and the bookmakers over voluntary arrangements to be made to help greyhound racing.