BMJ calls for introduction of tax fund to treat addiction in UK

In its latest article, the BMJ states that the economic cost of gambling-related harm was “significantly underestimated” and needs to be addressed by legislators.

Approximately 340 000 people in Great Britain are problem gamblers and a further 550 000 are at moderate risk of harm related to gambling. Nevertheless, it’s still not legislated as a public health problem therefore it’s not treated as such by policy makers.

One of the measures needed is the systematic reframing of the problem to reflect the significant burden of harm that gambling places not only on individuals but also communities and society. This requires a shift in policy to focus on the broader effects of gambling on individuals and their communities.

There should also be solid legislative or regulatory measures that tackle the availability, licensing, advertising, and price of products that cause these harms, not only a prevention strategy for individuals.

The paper proposed a revamped Gambling Act that would place the onus on the industry, rather than individuals, to reduce problem gambling.

The report also called for the introduction of a mandatory tax on the industry which would see additional funds being allocated to industry initiatives and the establishment of further treatment clinics.

The proposed tax is set to replace the current tax in place on the gambling industry in which operators and suppliers pay a voluntary levy equivalent to 0.1% of their revenues.

Paddy Power stock was down 2.58% on Thursday as well as other gambling UK companies such as GVC (-4.47%) and William Hill (-5.55) are all down today.