August 17, 2022
Business

Bet tax will cost Kilkenny jobs

THE Government’s proposal to hike Betting Tax by 100% will result in 43 job losses in Kilkenny, according to an analysis by the Irish Bookmakers Association (IBA).

Finance Minister Pascal Donohoe announced that betting tax will increase from 1% to 2% as part of next year’s budget.

Based on its engagement with members since Budget 2019 was announced, the IBA estimates a total of 352 jobs in the South East will be lost. It predicts seven bookmakers shops will close permanently in Kilkenny, six in Carlow, 13 will close in Tipperary, and Wexford, Waterford and Wicklow will each see nine shops permanently shut their doors.

The job losses are likely to be split by county as follows: Kilkenny 43, Carlow 36, Tipperary 77, Wexford 55, Waterford 53, Wicklow 53. IBA Chairperson Sharon Byrne said: “We are shocked that the Government could allow a 100% tax increase on our sector without fully understanding the financial and human cost of this move.

“It is not just the direct costs involved that are the issue, it is the thousands of families that depend on their jobs in a betting shop and the suppliers that service the sector that will be affected too. The pain will be particularly acute in the rural Ireland where it is often more difficult for people to find alternative employment.”

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