View Image

Salford billionaire Fred Done has warned that all 1,287 of his Betfred shops could close if taxes on gambling are hiked next month

The Betfred boss told the BBC that the move puts 7,500 jobs at risk and said that he is 'losing sleep' ahead of the budget. It comes after Chancellor Rachel Reeves said that she would 'make sure' gambling firms pay their fair share of taxes in an interview with ITV.

Speaking at the Labour Party conference, Ms Reeves said: "I do think there is a case for gambling firms paying more... they should pay their fair share of taxes and we will make sure that happens."

The Chancellor's comments follows research by the Institute for Public Policy Research (IPPR) think tank which estimated that a 50 per cent tax on the industry could raise £3.2bn. Forme

See Full Page