Rachel Reeves has been slammed for plans to slap a “tax on fun” in her upcoming Budget. Betting shops and holiday firms are sounding the alarm, warning of mass closures, job losses, and soaring prices for Brits.

Betfred Threatens to Shut 1,300 High Street Shops

Warrington-based bookmaker Betfred has warned that proposed duty hikes on sports betting (from 15% to 30%) and online slots (from 20% to 50%) could force it to shutter all 1,300 shops nationwide.

Chief Exec Joanne Whittaker said bluntly, “The most frightening element is we’re going to lose the whole retail business. I’m not scaremongering.” She also warned that harsher taxes would push punters towards unregulated black market betting, cutting into tax revenue rather than boosting it.

Betfred’s closure would put 7,000 jobs at risk, hitting local communities – especially towns where work is already scarce. The company is run by Fred and Peter Done, the UK’s second-biggest taxpayers, giving their warnings serious weight.

Holiday Firms Warn: Tax Hikes = Price Hikes

Meanwhile, holiday giants Tui and Jet2 have fired their own warning shots. Tui UK’s managing director Neil Swanson said:

“We won’t be able to absorb the extra costs. We’ll need to pass some or all of it on. That’s going to price some people out of the market.”

Jet2 added that Middle England cannot be a “cash cow” for the Treasury’s finances. Millions of Brits could face inflated prices on their holiday breaks if new travel taxes go ahead.

Reeves’ £30 Billion Budget Black Hole

As Reeves prepares her first Budget, she’s staring down a £30 billion financial gap. She’s promised “tough decisions” but has refused to rule out tax rises across sectors, including betting and travel.

Business leaders warn that hiking taxes on leisure services could backfire, stifling growth and shrinking rather than growing the Treasury pot.

Conservative Fury: ‘Kill Off These Punitive Taxes’

Shadow Business Secretary Andrew Griffith slammed Reeves last night, saying:

“Rachel Reeves must immediately kill off any suggestion of taxing things that make life bearable like a week in the sun or the occasional flutter.”

Conservatives brand Labour’s approach a “tax on fun,” warning it targets everyday pleasures of ordinary Brits.

Double Duty on Betting Could Kill High Street Shops

Doubling sports betting duty to 30% would squeeze already tight margins in shops. Online slot tax potentially hitting 50% could push punters to offshore sites unregulated by the UK.

Betfred’s Whittaker said:

“The safest place for anyone to have a bet is with a UK-regulated bookmaker.”

Slashing shop numbers risks growth of illegal betting, lacking player protections and responsible gambling controls.

The Stakes for Ordinary Brits

• Jobs on the line: 7,000 Betfred employees could lose work.
• Holiday costs: Families might be priced out as taxes rise.
• Community hit: Town centres and working-class areas face economic damage.

For many working families, a package holiday is a rare treat. Higher costs could put it beyond reach, impacting wellbeing and quality of life.

Budget Day Approaches

With Budget day looming next month, the pressure is on Reeves to balance raising funds without crushing key industries—and fun. Betting shops and holiday firms hope their warnings will force a rethink on proposed hikes.

Will the Chancellor cave or double down on the tax on fun? Stay tuned with Britannia Daily for all the latest!