Rishi Sunak served as a Chancellor of the Exchequer in the UK since last year. On Wednesday of this week, he is expected to deliver a budget that will help the country offset the economic uncertainty brought by the global COVID-19 pandemic.
BGC Calls on Chancellor to Deliver Budget for Jobs
The budget will be presented in the House of Commons and in light of this, the boss of the Betting and Gaming Council (BGC) urged Sunak to deliver a “Budget for jobs.” Michael Dugher, BGC’s chief executive, said in a statement released on Monday that he hopes that the Chancellor will deliver a budget for jobs that will help repair the damages to the hospitality sector done by the pandemic.
They already support tens of thousands of jobs across the UK, helping to generate billions of pounds in revenue for the Treasury, and with ambitious plans for further expansion in the years to come,”Michael Dugher, chief executive at the BGC
Moreover, Dugher explained that BGC’s members are ready and willing to help the post-pandemic economic recovery. Dugher stressed that the gaming companies help generate billions of pounds in revenue for the treasury. They also support tens of thousands of jobs in the UK. According to Dugher, a budget that will boost the economic recovery and receive the support of the regulated betting and gaming industry will ultimately “help Britain to build back better.”
Regulated Gaming Industry in the UK Helps with Jobs, Tax Revenue
Earlier this year, a report by EY revealed that BGC members support 119,000 jobs in the country. Additionally, the regulated betting and gaming industry generates $6.2 billion (£4.5 billion) in taxes, which translates to $10.6 billion (£7.7 billion) to the economy in gross value added. This, according to Dugher, already proves that the industry is making huge economic contributions.
BGC’s statement also outlined that the regulated gaming industry is helping fund horseracing, with some $482 million (£350 million) via sponsorship, media rights and betting fees. The English Football League (EFL) and its clubs, as well as the rugby league, snooker and other leagues, receive some $55 million (£40 million), too. Last but not least, BGC reaffirmed its commitment to creating 5,000 apprenticeships jobs by 2025 with the help of its members. This is in line with the Government’s Plan for Jobs.