Done hailed taxes as the industry's biggest threat Mike Egerton/PA Wire.

Betfred shops could vanish from UK high streets if Chancellor Rachel Reeves carries out a potential tax raid in the November budget, the company’s co-founder and chairman has warned.

Fred Done, who founded the business in 1967 with his brother, hailed tax rises as the “biggest threat” to the industry he has seen in his 57 years in the sector, echoing similar warnings from other leading gambling companies.

Reeves has previously argued that there “is a case for gambling firms paying more” adding “they should pay their fair share of taxes and we will make sure that happens”.

This follows increasing pressure from former chancellor Gordon Brown who has called the sector “undertaxed”.

Tax hike warnings

The Institute f

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