Peter Aldous backs calls to end the racing levy but highlights the need to ensure that any alternative must be mandatory - especially as far as offshore business is concerned.

Peter Aldous (Waveney) (Con): I congratulate my hon. Friend on securing this debate. Does he agree that the levy is long past its sell-by date, that all parties should try to come together to find an alternative and that that alternative, as far as offshore business is concerned, must be mandatory, not voluntary?

Matthew Hancock: My hon. Friend makes some important points. A future for the levy built on funding that is not onshore will be a system built like a house without foundations. Unless we deal with the problem of gambling going offshore before we tackle the wider problems of the levy, which is a broken system, we will not be able to build a strong and sustainable future for racing in this country. Over the past few years, the levy has fallen from £110 million to £59 million last year. We were delighted when the Minister announced that this year’s levy would be between £75 million and £80 million, but now, halfway through the season, it looks as though the levy contributions will in fact be less than £60 million—lower than last year—and will be lower still next year. Crucially, that means that prize money in British races is falling fast.