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<p>The Government recognises the significant contribution that racing makes to British
sporting culture and its particular importance to the British rural economy.</p><p><strong>
</strong></p><p>The British Horseracing Authority (BHA) estimates that British racing,
the UK’s second largest sports-related industry, is worth £4.1 billion in annual expenditure
to the British economy, directly employing over 20,000 people and supporting employment
for tens of thousands more in predominantly rural areas, and generating over £350
million in taxation annually.</p><p><strong><br></strong>An economic impact study
commissioned by Scottish Racing in 2016 found that the Scottish horseracing industry
generated £302 million in revenues, sustains 3,430 jobs, and generates £30m of tax
revenues per annum. Further detail is provided in Scottish Racing’s 2016 Annual Review:
<a href="http://www.scottishracing.co.uk/annual-review/" target="_blank">http://www.scottishracing.co.uk/annual-review/</a>.</p>
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