Wednesday 12th July 2017
The Horserace Betting Levy Board has today released its 2016/17 Annual Report, which includes the audited accounts for the year.
Paul Lee, in his Chairman’s Statement, notes that:
Paul Lee said:
“Congratulations are due to all those in Government and Racing who worked to achieve an extension of the Levy to bookmakers based outside Britain. This has been regarded, including by the Levy Board itself, as a long-running issue to be addressed.
“The Levy Board’s staff have been exceptionally focused in meeting the challenges before them this year, including in providing detailed background information and assistance to Government where necessary.
“The Levy Board team have set up effectively and quickly the necessary collection mechanisms required under the new arrangements and I am very pleased to report that income is now flowing to us as we had hoped and worked to achieve.
“All things being equal, this should make possible an increase in expenditure in 2018, including to prize money.
“We will continue to work with DCMS and others on achieving a smooth transition to the transfer of the Board’s functions elsewhere, recognising that, until those transfers take effect, the Board retains its statutory responsibilities and must be appropriately resourced to carry these out.”
The Report describes the Board’s activity for the past twelve months as well as setting out the full audited accounts.
The Report also notes that in 2016 the Levy Board supported the Point-to-Point Authority’s new promotional support proposals for 2016. The Board recognises the strong links between Point-to-Pointing and National Hunt racing in terms of the career development of young riders and horses and providing an appropriate second career option for jump horses.
2016 also saw the launch of EquiBiosafe, the mobile app version of the HBLB Codes of Practice and including the National Trainers’ Federation’s own codes for training yards. The app is available free of charge to any user and will help to promote good biosecurity practice throughout the equine world.
For further information please contact Alan Delmonte, Levy Board Chief Executive, on 020 7333 0043.