Liberated Gambling Sector Could Boost Economy

Increased freedom for gambling firms may improve economy, says expert.

The UK government could attempt to stimulate growth in the sluggish economy by relaxing gambling legislation, it has been claimed.

Simon Holliday, director of consultancy firm H2 Gambling Capital, said that liberating the gambling sector would encourage economic development while boosting tax revenues.

However, he also admitted that taxation for many sections of the gambling industry in mainland Britain is already "generally low".

"Bingo with the double taxation perhaps has the toughest deal, particularly in the light of how the sector has been hit by the smoking ban," Mr Holliday commented.

"Recessions often see governments liberate gambling markets, as it is one of the few policies that can raise additional taxes whilst actually stimulating the economy," he added.

Members of the bingo industry have campaigned for a new tax regime due to the current system of "double taxation", which requires them to pay both gross profits tax and VAT.