UK gambling reform could expect further delays following Liz Truss’ victory in the race for prime minister. [Image: Shutterstock.com]
Shift in power
UK gambling reform could still be a long way off, even after Liz Truss’ victory in the race to become prime minister.
Pastor Boris Johnson’s resignation in July brought ongoing discussions about gambling legislation and plans for the future. The gambling community has grown rapidly and as a result the list of interested operators has grown too. However, the problems quickly piled up and lawmakers demanded answers.
Truss is aware of the issues she faces, both related and unrelated to gambling, and has pledged to take action. However, that timeline may still be longer than previously thought.
Truss defeated British Chancellor of the Exchequer Rishi Sunak to secure her seat as Prime Minister. The Conservative Party was decidedly in her favour, giving her 81,326 votes against Sunak’s 60,399.
the consumer price index (CPI) rose 10.1% year over year in July 2022
One of the biggest problems that Truss faces is inflation. According to the Office for National Statistics, the Consumer Price Index (CPI) rose 10.1% year-on-year in July 2022, the highest annual CPI inflation rate since the company was founded in 1997. Inflation also shot up from 9.4% in June when the economy continues on a very negative trajectory.
Having money in your pocket is about the only requirement for people who want to enjoy gambling and other forms of entertainment – that and the minimum age requirement. The rapid rise in inflation is a clear limiting factor for the success of the market.
The cost of living in the UK has also risen significantly, with energy costs being one of the biggest culprits. Even though the UK has stopped importing gas from Russia due to sanctions imposed after the invasion of Ukraine, the closure of the Russian-owned Nord Stream pipeline is pushing prices across Europe.
Truss takes a tough stance on the impending danger, promising to reduce the cost of living to a more palatable level.
“I will deliver a bold plan to cut taxes and grow our economy,” Truss said. “I will live up to the energy crisis, deal with people’s energy bills, but also deal with the long-term problems we have with the energy supply.”
Now that Truss’ first initiative has already been earmarked, it is unlikely that she will pay much attention to gambling legislation during her first days in office.
Future of UK gambling reform
Analysts in the UK suspect Britain’s upcoming prime minister will shy away from imposing tough gambling rules. The main concerns are that strict supervision would shrink the market and reduce the incoming taxpayers’ money.
A white paper on gambling reform was scheduled for August, but it could be delayed again as Truss assembles her cabinet. It is even possible that the idea will be dropped altogether.
the United Kingdom Gambling Commission (UKGC) will not impose many of its planned reforms
In addition, the United Kingdom’s Gambling Commission (UKGC) will not impose many of its planned marketing reforms on at-risk individuals, despite dealing with gambling problems and suicides.
The regulator will not give advice until at least February, if at all. Instead, it strives for an open forum with other members of the industry.
The UKGC is still continuing with some initiatives. Two of the biggest changes relate to how operators identify and ultimately treat risk customers. The UKGC will also hold several meetings this month to discuss other matters and plans for publication of the findings in December.
This post UK gambling reforms to be postponed after new prime minister election
was original published at “https://www.vegasslotsonline.com/news/2022/09/05/uk-gambling-reform-delays-after-new-prime-minister-voting/”