Betfred warns that if a £3bn tax is imposed on the gambling industry, all 1,300 high street betting shops will close, resulting in the loss of 6,800 jobs. Former PM Gordon Brown proposes raising taxes on gamblers to remove the two-child benefit cap, potentially generating £3.4bn annually by 2030. The Treasury remains tight-lipped about potential tax policy changes.

Read more at Yahoo Finance: Betfred threatens to shut all 1,300 shops over feared gambling raid