Chancellor John Healey dealt a heavy blow to gamblers and betting operators during his first Budget by pushing up taxes on the sector, raising the machine games duty from 20 per cent to 25 per cent alongside several other tax increases.
This policy arrives despite frequent warnings from industry leaders who insisted that raising sector taxes would destroy thousands of jobs.
Flutter, a major betting corporation behind brands like Paddy Power and Sky Bet, announced plans to shed 1,400 jobs, amounting to roughly 15 per cent of its employees, following the tax changes.
Executives representing high street betting shops such as Coral, Paddy Power and William Hill cautioned that hundreds of betting shops might shut permanently, threatening thousands of employees.
Evoke chief executive Per Widerstrom cautioned that another tax increase could endanger additional jobs and livelihoods.
Meanwhile, 90 Labour MPs pressed Mr Healey to move forward with the higher levies, signing a joint letter urging him to increase the Machine Games Duty specifically for Category B machines.
Progressive think tanks similarly pressed the government to double gaming machine taxes in the Budget.
Major casino operators are currently weighing whether to shut down up to one third of their venues.
Britain's total national debt has surpassed £3 trillion, and the fiscal constraints inherited from the previous manifesto have led many to speculate that Mr Burnham might trigger an early general election.
