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Budget may deliver result desired from racing’s ‘Axe the Tax’ campaign

about 16 hours ago
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After many months of campaigning, an unprecedented “strike” when racing relocated to London to make its voice heard and an intervention by a former prime minister, no less, the UK’s second-biggest spectator sport will soon discover whether its concerted, and impressively united, effort to avert a tax hike on racing bets, has paid off,With all due respect to the competitors at Wetherby, Market Rasen and Southwell on Wednesday, the main event for racing will be the 12,30 at Westminster, as Rachel Reeves rises to deliver her much-anticipated budget speech,The only result that can be ruled out with confidence is that gambling duties will be left untouched,There is a gaping black hole to be filled in the public finances and the UK’s gambling industry, which had a Gross Gambling Yield (total stakes minus total payouts) of £15.

6bn in the 2023-24 financial year, could scarcely be a more tempting target.The key point for racing, though, is the extent to which a hike in overall gambling taxes is shared out between General Betting Duty (GBD) on operators’ gross profits from betting – on racing and other sports and events – and the duties payable on fixed-margin gaming products – slot machines, roulette and other casino games – both online and in retail betting shops.The current rate of GBD is 15% of an operators’ gross profits, while Remote Gaming Duty (RGD), the tax on the booming online gaming sector, is 21% of gross profits.And when the chancellor finally delivers her decision, the success, or otherwise, of the sport’s “Axe The Racing Tax” campaign will largely be measured by whether that 6% gap has been maintained, reduced or increased.The campaign had its origins, after all, in a Treasury proposal to “harmonise” the two rates, which was the subject of an official consultation process earlier this year.

The British Horseracing Authority commissioned research which suggested that harmonisation at 21% would have an immediate cost to the sport of £66m in lost income per annum, and £330m over five years, at the cost of nearly 3,000 jobs in the first year alone.The focus of the anti-harmonisation campaign was on the sport’s economic significance, in rural areas above all, and the likely effect of removing tens of millions of pounds from an ecosystem which supports the jobs of 85,000 people – who are, in turn, paying tax on their income and spending in their local communities.Lingfield 11.00 Canyouhearthedrums 11.30 Master Of Shanghai 12.

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30 Eden Storm (nb) 5.00 Spirit Lead Me (nap) 5.30 Crown Board 6.00 Woody Y Fernandez 6.30 Ritaal 7.

00 Smasher 7,30 Woodhay Whisper 8,00 Leading Times 8,30 Percy JonInitially at least, it was mainly left to others to suggest that high-frequency gaming products, which are associated with significantly higher rates of harm than other forms of gambling and do little or nothing to support employment or local economies, would be a better target for a tax hike – although Paul Johnson, the chief executive of the National Trainers’ Federation, put his head above the parapet to give the organisation’s “full backing” to a call by the Social Market Foundation (SMF) think tank for RGD to rise to as much as 50%,The moment when the tide may prove to have turned in racing’s favour, however, was the intervention by Gordon Brown, the former prime minister, in July.

Brown backed a call by the Institute for Public Policy Research (IPPR) think tank for gaming taxes to be hiked to 50% and betting duty to 25%, but also recommended additional measures to protect the racing industry from damage in the fallout,Brown’s intervention switched the focus away from harmonisation and firmly towards gaming duty above all, and a recent, well-sourced report in the Financial Times suggests that, far from harmonising the duty rates, the chancellor will instead raise gaming duty on both online and high-street games and impose a “slight” rise on the rate for online sports betting only, but exempt bets on horse racing from the increase,From racing’s point of view, this would be the best outcome that anyone could have realistically expected when the campaign began back in April,And while nothing is being taken for granted, there is increasing hope among those at the forefront of the campaign that its message has landed,One senior executive suggested to me last week that the racing is “about 1-4 to get the right result” on Wednesday.

If so, then the last six months should also come to be seen as the time when a 20-year boom for the UK gambling industry, fuelled almost entirely by gaming products, finally ran out of road.The bonanza was enabled by the 2005 Gambling Act, which came into force in 2007 when Brown himself was in No 10.It legitimised £100-a-spin roulette machines in high-street betting shops, while also failing to anticipate the growing dominance of online gambling in general, and online gaming and casino products above all.It took 15 years of campaigning – amid fierce resistance from the gambling industry – before the stake limit on FOBTs was cut from £100 to £2.There has been similar resistance, orchestrated by the industry’s lobbying group, the Betting and Gaming Council (BGC), to suggestions that gaming duty should be singled out for a significant hike in the budget, even down to a re-emergence of BetFred’s claim, last heard during the FOBT campaign, that most or all of its betting shops are at risk of closure.

It did not happen then, and recent results from William Hill, showing significant recent growth in the betting-shop sector, strongly suggest that it will not happen now,The BGC has repeatedly claimed too that a hit to gaming profitability would have knock-on effects for racing, via reductions in sponsorship and offers and promotions for punters,But in reality, it makes little sense to react to reduced profits in one area of their business by reducing investment in another where the relative margin has improved (unless, of course, racing and betting was mainly being used as a loss leader to acquire customers who can then be pushed towards gaming products),It was suggested in this column over three years ago that the gambling-industry’s gaming-fuelled bonanza could not go on forever, and that the most sensible plan for racing would be to separate itself as fully as possible from the gaming sector ahead of the inevitable crash,If the latest rumour about the outcome of the chancellor’s deliberations around gambling tax is correct, racing may indeed have jumped from the careering bandwagon in just the nick of time.

foodSee all
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Fluffy and fabulous! 17 ways with marshmallows – from cheesecake to salad to an espresso martini

They come into their own around Thanksgiving in the US, used alongside savoury dishes, as well as in desserts. Now is the time to try them with sweet potatoes, in a strawberry mousse, or even with soupThe connection between marsh mallow the herbaceous perennial, also known as althaea officinalis, and marshmallow the puffy cylindrical sweet, is historic. In the 19th century, the sap of the plant was still a key ingredient of its confectionary namesake, along with sugar and egg whites. But that connection has long been severed: the modern industrial marshmallow is derived from a mixture of sugar, water and gelatine. Its main ingredient is air

2 days ago
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The Shaston Arms, London W1: ‘Just because you can do things doesn’t mean you should do them’ – restaurant review | Grace Dent on restaurants

A pub that wants to be an old-school boozer and a cool restaurant both at the same timeWhile perched inside what felt like a repurposed bookshelf at the draughty back end of the Shaston Arms, sitting next to the dumb waiter and waiting for the ping to herald the arrival of my £16 plate of red mullet with squid ink rice, I had time to consider yet again the so-called “pub revival” in cool modern hospitality. Old boozers are reclaimed, reloved and restored, and the great tradition of going down the pub is celebrated. The Devonshire in nearby Piccadilly is, of course, the daddy, the Darth Vader of this trend, winning plaudits, TikTok adoration and celebrity fans aplenty. So it’s no wonder that myriad other hospitality operators have cast an eye over their local neglected fleapit and thought: “Let’s buy some Mr Sheen, give that old hovel a polish and start serving duck à l’orange and flourless chocolate tart. It’s all the rage! Gen Z loves it!”Whether Gen Z really does love anything about the pub experience as it was in the 20th century is debatable, however, because inside these poshed-up spit-and-sawdust boozers, all the phlegm and fag ash has gone – as have the dartboards, pool tables, punch-ups, topless women on KP peanut pub cards and the ever-present bar-fly alcoholic drinking himself yellow while droning on about his marital problems

2 days ago
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Goblets of borscht, turkey-shaped madeleines: why Martha Stewart’s fantastical menus are still an inspiration

The celebrations were imminent and the greenhouse ready to accommodate – among the orchids, in unseasonable November warmth – an intimate Hawaiian luau. The table was set with giant clam shells for serving vessels and miniature hibachis for grilling Dungeness crab. Somebody had found a small, pink pineapple and secured it on the watermelon like a brooch. The hostess considered the merits of a hula dancer, but in the end settled on a more succinct spectacle: a 19lb suckling pig, enwreathed with sub-tropical flowers and caparisoned in bronze.It was, and could only ever have been, a Martha Stewart affair

4 days ago
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Winter has finally kicked in – it’s time to crack out the casserole dish and get stewing

At the risk of sounding like a British cliche, can we take a moment to discuss the change in the weather? This week’s sudden drop in temperature has our house excited for potential snow (the children are giddy), with everything suddenly feeling a lot more wintry. New coats are on the hooks, thermals are being dug out and a casserole dish filled with some sort of soup, stew or stock seems to be permanently ticking away on the hob. These range from quick, warming weeknight dinners to leisurely, slow-cooked weekend meals.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link

4 days ago
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Helen Goh’s recipe for cranberry, orange and ginger upside-down cake | The sweet spot

Bright, tart cranberries are one of the most vivid flavours of the Thanksgiving table, but they often play a supporting role to turkey and stuffing. Here, however, they take centre stage in a sparkling upside-down cake, and their ruby tones gleam over a tender, orange-scented crumb. The batter is enriched with soured cream, ensuring every bite is a balance of sweet, sharp and soft.A note about the cranberries: if using frozen, do not defrost them first.Prep 10 min Cook 1 hr 15 min, plus cooling Serves 8-10For the cranberry caramel base 60g unsalted butter 100g light brown sugar 1 tbsp fresh orange juice2 tsp finely grated ginger⅛ tsp flaky sea salt250g fresh or frozen cranberriesFor the cake batter150g plain flour 1 tsp baking powder ¼ tsp bicarbonate of soda ¼ tsp fine sea salt 120g unsalted butter, at room temperature, plus extra for greasing150g caster sugar Finely grated zest of 1 orange 2 large eggs 2 tsp vanilla extract 120g full-fat soured creamGrease a 20cm round cake tin (at least 5cm deep, and not springform), then line the base and sides with baking paper

4 days ago
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Why nonalcoholic spirits go from strength to strength

It’s time to start thinking about the C word. You might well already have plans to stock up for house guests who are drinking, but what about those who aren’t? It’s a good opportunity to think about how we might jazz up our non-alcoholic offering for friends and family who are trying to drink less, or not drinking booze at all. Sometimes, your friend will just want a Fanta, but I don’t like being the one to offer it to them. We can do better than that.The Guardian’s journalism is independent

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Civil liberties groups call for inquiry into UK data protection watchdog

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Leading law firm cuts London back-office staff as it embraces AI

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Elon Musk’s Grok AI tells users he is fitter than LeBron James and smarter than Leonardo da Vinci

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