25% MGD feels like a reasonable level and assuages some of the catastrophising rhetoric we have seen from the industry. From my perspective, AGCs were always the priority in terms of reform and it is good that these carbuncles of the high street will be subject to a fairer rate of tax — in addition to new rules that will soon be introduced on the “Aim to Permit”. If 25% proves to have a negative impact on racing, which is yet to be known, then the Government must continue to provide relief for the sport through business rates relief and alternative funding structures. On AGCs, something that no one has yet mentioned is the fact that they pay only a fraction of what their online counterparts contribute to the statutory levy (see table below). This is an anomaly which needs to be corrected, in the name of proportionality and fairness, with the AGC levy rate increasing to 1.1% going forward.