Suffolk industry bosses have spoken of their relief as the horseracing industry was shielded from a new betting tax announced in the Budget today.

It was feared that a new gambling tax which was trailed in the build-up to the Budget could hit horseracing - with towns like Newmarket braced for bad news.

But in the end, Chancellor of the Exchequer Rachel Reeves said there would be no change to in-person gambling or horse racing taxes.

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Instead, remote gaming duty (RGD) - which is levied on online casinos - will rise from 21% to 40% next April.

Newmarket trainer William Haggas welcomed the decision.

More: Company boss is critical of 'fiscal fandango' which preceded Chancellor's Budget

"This is a sensible and welcome decision from the Gove

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