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"In the face of fiscal pressure, we must seek ways to increase government revenue in the short term," said Finance Secretary Paul Chan. "This arrangement has taken into account the keen external competition faced by Hong Kong's betting business and the Hong Kong Jockey Club's commitment not to reduce its commitment to local charities. "The additional increase in the Jockey Club's soccer duty from 50% to 60% will not reduce the Jockey Club's charitable and donations. . "In this regard, we strongly appeal to the Government to critically review and reduce the betting duty rates on a long term basis, which are the highest in the world, in particular on horse racing which stand at 72. " The HKJC also called on the government to support its efforts for more simulcast and world-pool opportunities, and to commence a review on the licensing conditions imposed on football betting. As previously reported by IAG, the HKJC had earlier expressed its opposition to the proposed increase in Hong Kong's football betting duty, pointing out that such a move would "destroy Hong Kong's status as a top horse racing region in the world, undermine the public interest of Hong Kong and cause irreparable damage to Hong Kong. faux saint laurent bag
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