Gambling in the United Kingdom a licence to sell alcohol to facilitate betting on the premises. Most pubs in the UK have a one-armed bandit of one kind or another, but the prizes are strictly controlled. The law allows larger prizes in private clubs. "Betting duty" at 6.75% was applied to sports bets until 2001 when it was replaced by a 15% tax on gross profits. From 1 December 2014, the Gambling (Licensing & Advertising) Bill will change the taxation of remote gambling from a 'place of supply' basis to a 'point of consumption' basis. The betting industry alone is reported to contribute £6 billion
Robin Hood tax Chairman of the UK Treasury Select Committee, has listed 17 problems with the FTT tax, including a loss of overall tax revenue for Britain. Critics have conceded that the FTT would reduce the overall volume of transactions, especially those originating from High-frequency trading, but deny that it would reduce the risk of further crises in the financial sector. When a 0.5% financial transaction tax was implemented in Sweden, over 50% of trades in Swedish equities moved to London. On 15 April 1990, the tax on fixed-income securities was abolished. It is notable that the tax imposed an increased cost on