EAG360 Chairman Condems Chancellor John Healey’s Decision to Increase MGD

EAG360 Chairman and former Bacta President Nick Harding has condemned Chancellor John Healey’s decision to increase MGD describing it as “ignorant, vindictive and not supported by operational realities.”

Commenting following the announcement to increase MGD to a punitive 25 percent Nick Harding noted: “The Chancellor’s mantra which ran through his speech was to give the British people and British businesses ‘breathing space’: well, as far as his measures extend to our industry, he is suffocating enterprise, suffocating investment and suffocating the support for local communities and small businesses through the extended supply chain.

“He also pledged to champion small British firms –ignorant of the fact that the rise in MGD will harm Bacta members 80 percent of whom are SMEs.

“Time and time again we have been told the importance of evidence-based arguments – the increase in MGD has not been informed by evidence but is a measure introduced in pursuit of a vindictive ideology.”

Addressing the Chancellor’s view of the high street he said: “In reference to the removal of Business Rates Relief the question needs to be asked as to why AGC businesses which have been on the High Street since 1970 are now bracketed alongside Vape shops? It is an ill-informed position to take.

“The fact is that every land-based business that closes as a result of these measures will drive players toward illegal on-line casino sites. Is that really what the Chancellor and our Prime Minister want?”

Turning his attention to January’s exhibition Nick Harding stated: “EAG360 will be the first major cross-sector gathering of the industry and whilst the co-located shows cannot provide a silver bullet, they provide an opportunity for operators and suppliers to meet and navigate the future as a collective group.

“EAG360 represents a unique space to share mitigation strategies, explore innovations and source a product mix of equipment from all three sectors.

“This isn’t about looking for easy answers: it is about a robust marketplace standing together to map out a clear blueprint for what comes next. The connections and creativity on the exhibition floor are the foundation stones of what we collectively need to move forward.

“January’s show will bring together the people and products that can help mitigate pressure on profits and deliver fresh ideas and perspectives.

“We will be working with Bacta colleagues to leverage the power of EAG360, always standing shoulder-to-shoulder with the businesses the show serves.”