Former UK Prime Minister Gordon Brown has renewed his call for increased taxes on the gambling industry to fund the removal of the two-child benefit cap, a policy aimed at lifting 500,000 children out of poverty. Brown supports a report by the Institute for Public Policy Research (IPPR) think tank, which suggests that higher gambling levies could finance the scrapping of this benefit limit. The proposal has garnered considerable public backing, with a YouGov poll indicating that 70% of Britons support raising taxes on online gambling to address child poverty. However, the campaign has faced criticism from some quarters, including warnings from Labour tax experts who describe the gambling tax plan as "unconvincing," and concerns that it could negatively impact sectors such as horse racing and bingo. Meanwhile, Paddy Power's owner has forecasted a 40% profit increase despite the proposed tax hikes. The debate over gambling taxation is part of a broader discussion on how to address Britain's £50 billion budget gap, with some arguing that raising income tax could harm economic growth and Labour's political prospects.
Paddy Power's owner predicts 40% profit surge amid calls for gambling tax hike - via @Grahamhiscott https://t.co/PffEzmPL5p
70% of Britons would support raising taxes on online gambling, following Gordon Brown calling for an increase in the levies to fund efforts to tackle child poverty Support: 70% Oppose: 16% https://t.co/0a3nvDmylA
Labour Tax Expert Warns Against “Unconvincing” Gambling Sin Tax Plan https://t.co/beihvoMjSg https://t.co/jEFjenZuhm