Horserace Betting Levy Board

The Horserace Betting Levy Board’s 2014 Business Plan has been published today.

The 2014 Business Plan sets out:

• general objectives and specific objectives for the year;

• analysis of previous Levy Schemes, forecast income assumptions and investment and reserves policies;

• details of expenditure allocations and principles across the 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 2014 is £82.0m, versus a budgeted £76.3m in 2013 and £64.8m spent in 2012. The Board’s forecast income in the 2014/15 (April to March) Levy year is £80.2m, excluding interest and other income. The Board has approved a small deficit budget for the year as a result of current and forecast reserves being in excess of the target range of £30m to £40m.


Over 90% of the Board’s expenditure is allocated to prize money and grants to racecourses for Raceday Services and Fixture Incentives. The Board’s prize money allocations include grants to the new Future Champions Day and to fixtures on Good Friday. Overall, prize money will be split 61% Flat, 39% Jump, in line with the amount of levy generated by each code of racing. Additionally, the Board has made over £8m available to racecourses by way of Capital Loans for maintenance and upgrading work.


The Business Plan also highlights that the Board’s administration costs are forecast to fall in 2014 by 15% on 2013. The move by the Levy Board and the Bookmakers’ Committee to new accommodation in February 2014 will save £186,000 per year on a like for like basis.


For further information please contact Alan Delmonte, Chief Executive of the Levy Board, on 020 7333 0043.