Irish Bookmakers Association chairwoman Sharon Byrne on Thursday issued a stark warning of major job losses in the Irish bookmaking sector should minister for finance Paschal Donohue decide to increase betting tax in next Tuesday's budget.
Byrne was reacting to recent media speculation, including an article in the Irish Examiner in which unnamed "government sources" suggested the Independent Alliance, minority partners in the Fine Gael-led government, have succeeded in convincing Donohue to double the rate from its current one per cent to two per cent, and quoting a likely €50 million increase in revenue as a consequence.
Byrne said: "We are extremely worried about reports that the betting tax is to be doubled in the upcoming budget. The claim that it would net a further €50m for the exchequer is absolute fantasy.