United Kingdom MP Proposes New Levy on Revenues of Gambling Operators
The parliament of the United Kingdom has taken a step towards implementing a new law that will pose a mandatory levy on the revenues of the gambling films. That was clear when the parliament supported the introduction of a new bill that a Conservative MP put forward that would review the case for a levy on the gambling firms’ gross revenue.
The New Bill To Apply Levy on Gambling Firm Revenues in the United Kingdom
Richard Graham has stated that the review should make a recommendation regarding the use of the revenue that the levy will create. He believes that a connection should exist between these revenues and research on children protection from gambling harm, as well as analysis of gambling addiction. The new bill was introduced according to the “Ten Minute” rule, which allows the backbench members of parliaments to propose new legislation in the form of a 10-minute speech. Accordingly, if the House of Commons gives their support for that legislation, the bill then goes into a second reading for more in-depth consideration.
The rules have prevented him from directly asking the government to introduce such a levy. He stated that the parliament and the government, in addition to the gambling authorities, needed to take action and do more when it comes to protecting people who are vulnerable from gambling addiction. He stated that the research that will happen, as a result of the levy is one of the many potential benefits of it. He continued by saying that it would be able to provide more accurate statistics on the number of UK residents that are affected by a gambling addiction, especially online gambling.
When introducing the bill in his 10-minute speech, Richard Graham stated that he believes that the levy is going to make a real difference. He said that it would fund vital research which can lead to changes to the policies on credit cards and access to money that can result, in some cases, to tragic deaths.
Gambling Law Expert Comments on the New Bill
The gambling law expert from Pinsent Masons, Christopher Rees-Gay, stated that the bill’s timing is perfect. He said that although the bill only got through its first reading, the bill’s main focus, if it becomes legislation, could change and benefit the industry drastically. It could result in many changes in the industry, including more changes to advertisements, self-exclusions software, and more. All of these issues are also on top of the agenda for the United Kingdom Gambling Commission. He also added that this serves as another confirmation that the gambling operators are standing in the spotlight, and should ensure to everyone in the industry that they take customer protection seriously.
Gambling Commission’s Chair Comments on the New Bill
William Moyes, the Gambling Commission chair, was at an event that witnessed the launch of a new strategy to reduce the gambling harms on a nation-wide scale. It was on the day after the introduction of Grahams’ Bill. He stated that the commission’s ability to fund research is mostly dependant on operators when they breach their license and agree to settle. The new levy is going to secure levels of funding that was not possible before.