Betting giant William Hill is closing 200 high street stores within weeks due to the “significant tax increases” unleashed by Labour. The bookmaker blamed the “cost pressures” of the last Budget for the decision that will trigger a round of staff layoffs.
Chancellor Rachel Reeves is doubling taxes on online gaming from 21 to 40 per cent, while online sports betting will increase from 15 to 25 per cent.
William Hill’s parent company Evoke said in a statement: “Following a thorough review and further to increased cost pressures on the regulated sector including significant tax increases announced by the Government in last year’s Autumn Budget, from May we are closing a number of shops that are no longer sustainable.
“We are offering our full support to our retail colleagues who are affected by these closures.
“These decisions are never taken lightly, however in the face of rising cost pressures we must take action to ensure we can continue to invest in our core retail estate, with the right shops, in the right locations.”
