Horserace Betting Levy Board

The Horserace Betting Levy Board has today published its Business Plan, a copy of which can be found on the Levy Board’s website.

This is the Levy Board’s first Business Plan. In the past, the Board has agreed and issued a Policy Statement in its Annual Report in mid-year. This has been superseded, and much expanded upon, by the Business Plan.

The purpose of the Business Plan is to communicate a greater degree of detail and information about the Board’s objectives, income and expenditure policies.

The 2013 Business Plan sets out:

• general objectives and specific objectives for 2013;
• analysis of previous Levy Schemes, forecast income assumptions and investment and reserves policies;
• details of expenditure allocations and principles across all three areas encompassed by the Levy Board’s statutory objectives: the improvement of breeds of horses; the advancement or encouragement of veterinary science or veterinary education; and the improvement of horseracing;
• Levy Board and Bookmakers’ Committee costs.


Total budgeted expenditure in calendar year 2013 is £76.3m, compared to £65.3m in 2012. This is reflected in the budgeted expenditure for the 2013/14 (April to March) Levy year of £75.9m, a period in which total Levy Board income is forecast to be £74.0m. As the Business Plan sets out, because the Board’s reserves are expected to be at the upper end of its target range, a small deficit budget has been considered acceptable.


Of the budgeted expenditure for 2013, £69.6m (over 90%) is allocated to prize money and grants to racecourses.

Additionally, the Board will make £8m available to 17 racecourses by way of Capital Loans for maintenance and upgrading work.


Levy Board Chairman Paul Lee said: “The Business Plan provides further insight into our work. Its development reflects the professional and transparent way in which we aim to operate.”