As gaming tax hike passes second reading, Industry leader predicts 'dramatic' economic impact on Gib

The Chair of the UK Gaming and Betting Council's tax Committee has said the impact of the gaming tax hike on Gibraltar's economy will be dramatic and will put a lot of pressure on public finances.

Stephen Hodgson petitioned the Treasury on behalf of the Council last week, but the UK budget measure, which nearly doubles the taxes levied from gaming companies, went through its second reading yesterday.

Mr Hodgson believes it is now up to the industry to mitigate the impact of this tax hike.

He says it will inevitably result in redundancies, and ultimately, impact Gibraltar's revenue.
Mr Hodgson spoke to our reporter, Jonathan Sacramento, who asked him about the meeting with Treasury.