A recent survey revealed that a majority of voters support the idea of increasing taxes on gambling companies’ profits to combat child poverty. The poll, conducted by Survation for the campaigning group 38 Degrees, indicated that 64% of respondents are in favor of this proposal championed by former Labour Prime Minister Gordon Brown. In contrast, only 14% of the 8,000 participants stated their opposition to the suggested levy hike on gambling firms as a means to alleviate child poverty.
Gordon Brown, who served as Chancellor from 1997 to 2007, estimated that targeting the “massively undertaxed profits” of gambling companies could yield £3.2 billion. He suggested utilizing this revenue to eliminate the two-child benefit policy introduced during the Conservative era, which has been criticized for contributing to the entrapment of hundreds of thousands of children in poverty.
Matthew McGregor, CEO of 38 Degrees, emphasized the public’s desire for large gambling corporations to pay their fair share, especially to address child poverty. Undoing the two-child benefit cap imposed by the Conservative government using the generated funds is seen as a logical step for a Labour government committed to tackling child poverty effectively and swiftly.
Joseph Howes, CEO of Buttle UK and Chair of the End Child Poverty Coalition, highlighted the detrimental impact of the two-child limit policy, stating that it plunges 109 children into poverty daily. He stressed the urgency for the government to prioritize lifting children out of poverty, ensuring they have adequate living conditions and opportunities.
Rachel Reeves, set to present the government’s Budget on November 26, indicated openness to a potential increase in gambling taxes following Gordon Brown’s proposal. The Chancellor acknowledged an ongoing review of gambling taxes and pledged to disclose related policies during the upcoming Budget announcement.
Overall, the push for higher taxes on gambling companies to address child poverty has gained significant public support and drawn attention to the need for effective strategies to uplift vulnerable children in society.