19th of March 2013 Author: Glo Wood
Chancellor of the Exchequer and Second Lord of the Treasury of the United Kingdom, Chancellor George Osborne, made the decision last month to add an additional 20% tax to slot machines.
Since 2005, there have been more than 150 bingo club closures and the industry has concerns for the remaining clubs that earn £70,000 or less per year.
Bingo halls are dependent on the income generated by installing slot machines in their establishments due to rise of online gambling and the effects of the recession.
Representing the owners of a majority of the bingo clubs in the UK, Miles Baron of the Bingo Association said: 'The level of tax is critical to the survival of many clubs.'
During a pre-Budget appeal to the Chancellor, members of the industry argued that bingo is taxed at a higher rate than any other form of gambling and it's an industry that employs 13,000 citizens.
Industry leaders believe that the tax rate should more in line with online bingo and bookies at 15% rather than the current 20%. Baron said, 'This would have a positive impact on bingo, for customers, operators and the Exchequer.'
Profits have suffered and the number of players has also decreased. How can the bingo halls continue to pay increased taxes on a dying industry?
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