Bookie Boylesports warns staff tax on bets will hit jobs
BoyleSports, Ireland's largest independent bookmakers, has warned staff that a measure in the Budget doubling betting tax will cost jobs.
The industry is banding together to put pressure on the Government to reverse a decision to increase the tax from 1pc to 2pc. It has estimated that over 350 bookmakers could close and that job losses could reach 2,000 as a result of the higher tax rate.
It is understood that the Boylesports which recently opened its 250th store, is reviewing all its shops as a result of the measure.
In a letter to staff, Boylesports management said: "We are committed to making Government and all relevant agencies understand the impact this poorly-considered policy will have on the sector, our business, us and our families.
"We will take all steps available to safeguard our business, our industry and most importantly the employment of all our people."
When challenged about the tax, Finance Minister Paschal Donohoe said that he had held a consultation on betting tax but "couldn't get agreement from the industry in relation to it". "In the absence of agreement, I decided on something that needed to be done," he said.
Sunday Indo Business