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$138m Levy Drop Brings UK Funding To "Crisis Point"

Monday, 24th May 2010

British Horseracing Board chief executive Nic Coward warned an expected fall in levy yield to below £80 million (A$138m) has brought the issue to "crisis point" reported racingpost.com. And UK Racehorse Owners' Association chairman Paul Dixon similarly declared racing was "in a crisis" with levy income for 2009-10 set "dip to its lowest level for 8 years" & fall a further £7 million (A$12m) below the revised forecast announced only 6 weeks ago. Coward declared: "We have now arrived at crisis point & urgent attention is required from the new government & the Levy Board."

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