9th of May 2013 Author: Ava Jackuard
The so-called 'stealth tax' - a doubled amount of tax on the UK national lottery has been assessed by analysts GBGC as having a potential to bring the UK Treasury an extra GBP 1 billion a year from proposed ticket price increases scheduled for next autumn.
This is the first increase in the 20 years of the lottery's history, and according to the analysts, two years from now, 'Chancellor George Osborne will be taking almost double the State's share of the takings before the onset of the economic downturn.'
Looking into this matter, the Daily Mail newspaper noted that although upon the relaunch, the lottery will introduce regular GBP 5 million weekend jackpots, it will also cost a family accustomed to a GBP 5 weekly gamble twice as much for the same winning odds.
"Duty paid on National Lottery tickets runs at 12 percent, and from the game's beginnings in 1994 until 2007 the amount paid to the Treasury each year ran at between GBP 500 million and GBP 600 million," the newspaper concluded.
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