BGC Backs the Government’s Growth Plan
Standards body, the Betting and Gaming Council announced on Friday (23rd September) their members are ready to play a leading role backing the Government’s new Growth Plan.
Chancellor of the Exchequer, Kwasi Kwarteng today unveiled a package of measures designed to boost growth and make the economy more competitive.
The UK’s regulated betting and gaming sector is already a British business success story, annually supporting 119,000 jobs, contributing £7.7bn to the economy and generating £4.5bn for the Treasury.
And they are ready to invest even more, with a further 15,000 extra jobs expected to be created by 2027 on current growth trends.
Michael Dugher, BGC CEO, said: “The regulated betting and gaming sector backs the Government’s Growth Plan – and is ready to play its part in its ambitious growth agenda.
“The Government has set out a bold plan to revive the economy. This can only be achieved by setting the right regulatory framework for businesses to thrive.
“Our members are supporting the UK’s hard-pressed high streets with bookmakers, while casinos and bingo provide a key pillar to the hospitality, tourism and leisure sector.
“They are also supporting the Government’s Levelling Up agenda with huge and growing world-leading British tech in cities such as Stoke-on-Trent and Leeds. Betting and gaming supports over 8,500 jobs in these areas alone, while contributing over £630m to their local economies.
“This is a sector that is already investing in communities, delivering growth, and creating jobs and wealth across the UK. All our members stand ready to see that vital contribution grow.”
CEO Michael Dugher also urged the Government to revisit the long-awaited Gambling White Paper – stressing the right regulatory framework can support growth.
He added: “We are committed to continuing to raise standards on safer gambling and urge the Government to work with the industry to make progress on a gambling White Paper soon, so that our members have the regulatory clarity they need to invest in the future.
“We believe the right regulatory reforms can help a thriving sector reach new heights, while delivering on the Government’s goal to improve player safety, a goal we share and are already working towards.”
Every month some 22.5 million adults in the UK play the lottery, enjoy a game of bingo or have a bet on football, horse racing and other sports.
Meanwhile, the UK sector is one of the best regulated in the world, with problem gambling rates among the lowest in Europe at 0.2 per cent, according to the independent regulator.