Flutter to Cut 1,400 UK and Ireland Jobs, Blaming Labour's Gambling Tax Increase

Flutter, the owner of Paddy Power, Sky Bet and Betfair, will cut 1,400 jobs across the UK and Ireland, citing the sharp rise in British gambling duties announced in last year's autumn Budget. The redundancies affect roles in Leeds and Dublin as well as support offices in Portugal and Romania. The company employs 8,960 people in its UK and Ireland division. Flutter previously warned it would absorb a $540 million (£400 million) hit from the tax increases in 2027. Former chancellor Rachel Reeves nearly doubled online gambling taxes from 21% to 40%, effective April 2026, while a levy on bookmakers' profits is set to rise from 15% to 25% in April 2027. UK and Ireland chief executive Kevin Harrington said the company cannot fully absorb a rise of that magnitude without reducing its fixed cost base. The cuts follow a September review of 100 Paddy Power shops that put about 400 jobs at risk, and precede Chancellor John Healey's first Budget.