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Horse races cancelled in protest against proposed betting tax rise
British horse racing will go on strike on 10 September, taking the unprecedented action of refusing to race in protest against the Government’s proposed tax rise on betting on the sport.
As part of its industry-wide Axe The Racing Tax campaign, four fixtures scheduled for that day at Lingfield Park, Carlisle, Uttoxeter and Kempton Park have been rearranged by the British Horseracing Authority.
It is the first time the sport has voluntarily refused to race in its modern history.
The governing body is campaigning against the Treasury’s proposal to introduce a single remote gambling tax, which would increase the 15% tax rate paid by bookmakers on racing and aligning it with online gaming, which is currently taxed at 21%.
The BHA says this would have a “destructive impact” on the industry with its economic analysis predicting an estimated £330m loss in revenue and putting 2,752 jobs at risk in the first year alone.
A spokesperson for the Treasury told BBC Sport: “We are consulting on bringing the treatment of online betting in line with other forms of online gambling to cut down bureaucracy – it is not about increasing or decreasing rates, and we welcome views from all stakeholders including businesses, trade bodies, the third sector and individuals.”
Chancellor of the exchequer Rachel Reeves’s autumn budget in October is expected to bring tax rises.
Brant Dunshea, chief executive at the British Horseracing Authority, said the proposals “threaten the very future” of the sport.
Race meetings in Britain take place 363 days a year, unless called off for adverse weather, equine virus outbreaks and national crises such as the Covid-19 pandemic.
The strike takes place the day before the start of the four-day St Leger festival at Doncaster Racecourse.
“British Racing is already in a precarious financial position and research has shown that a tax rise on racing could be catastrophic for the sport and the thousands of jobs that rely on it in towns and communities across the country,” added Dunshea.
“This is the first time that British Racing has chosen not to race due to Government proposals. We haven’t taken this decision lightly but in doing so we are urging the Government to rethink this tax proposal to protect the future of our sport which is a cherished part of Britain’s heritage and culture.”
Business
FDA vaccine head will step down in April after string of controversial decisions
The logo for the Food and Drug Administration is seen ahead of a news conference at the Health and Human Services Headquarters in Washington, April 22, 2025.
Nathan Posner | Anadolu | Getty Images
A key U.S. Food and Drug Administration official who oversees vaccines and biotech treatments will step down from the agency following multiple decisions that raised concerns within the industry.
Vinay Prasad, director of the Center for Biologics Evaluation and Research, will leave the FDA at the end of April, an agency spokesperson confirmed on Friday. It is his second departure from the position: He briefly left the post in July following backlash over his regulatory decisions, and returned only two weeks later in August.
In a post on X, FDA Commissioner Marty Makary said the FDA will appoint a successor before Prasad returns next month to the University of California San Francisco, where he taught before taking the FDA position last year. Makary said Prasad “got a tremendous amount accomplished” during his tenure at the agency.
Prasad’s decision to step down comes after criticism of the FDA mounted within the biotech and pharmaceutical industry and among former health officials. In the past year, the agency has denied or discouraged the approval applications of at least eight drugs, according to RTW Investments, after taking issue with data the companies used to support their applications. The FDA also initially refused to review Moderna’s flu shot before it later reversed course.
All of those companies accused the FDA of reversing previous guidance about the evidence they could use to back their applications, sparking criticism within the industry that an unreliable regulatory process could stifle development of drugs for hard-to-treat diseases.
A former FDA official who spoke to CNBC on the condition of anonymity to speak freely on the issue called the reversals the worst kind of regulatory uncertainty because companies say they are being told one thing and then experience another.
In a statement earlier Friday, an FDA spokesperson said there was “no regulatory uncertainty,” adding the agency “makes decisions based on the evidence, but does not make assurances about outcomes.” The spokesperson said the FDA is “conducting rigorous, independent reviews and not rubber-stamping approvals.”
The most recent controversy came after the FDA discouraged UniQure from applying for expedited approval of its experimental treatment for Huntington’s disease.
The agency, which underwent staff cuts and an overhaul under Health and Human Services Secretary Robert F. Kennedy Jr., has faced broader backlash for its drug and vaccine approvals process. Critics have worried the agency could stifle the development of new treatments and risk the safety of patients.
The Wall Street Journal earlier reported Prasad’s departure.
Business
Oil price at two-year high after Qatar minister warns all Gulf production could stop
Energy Minister Saad al-Kaabi says oil could hit $150 a barrel if the Iran conflict continues over the coming weeks.
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Govt increases petrol, diesel prices by Rs55 per litre amid Middle East tensions – SUCH TV
The federal government has raised petrol prices by Rs55 per litre as surging global oil prices, fuelled by the US‑Israel war with Iran, put pressure on domestic energy costs.
The announcement was made by Petroleum Minister Ali Pervaiz Malik in a press conference alongside DPM Ishar Dar and Finance Minister Muhammad Aurangzeb.
This marks the first weekly review of fuel prices since regional tensions threatened a major share of global energy flows following the closure of the Strait of Hormuz.
Previously, the federal government adjusted petroleum prices on a fortnightly basis.
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