The Levy Board has reiterated its support for the Government in its attempt to get off-shore betting operators to contribute to racing's coffers.
In its annual report, Levy Board chairman Paul Lee confirms its backing for the Government in its intention to address off-shore betting issues.
Lee stresses that the current structure "is not a level playing field for on-shore operators and that a Levy contribution from those off-shore would 'transform' Levy yield".
The Levy Board's accounts show that the total yield for the 49th Levy Scheme (2010/11) was £59.5milllion, a fall from £75.4m for the 48th scheme, which was itself a reduction on the 47th yield of £90.6m.
Lee points out the Board's sensible and prudent response to a challenging year due to the significant fall in income as well as to its commitment to setting a balanced budget in the current year.
Meanwhile, announcement of next year's racing fixtures has been further delayed at the request of the Racecourse Association and the Horsemen's Group.
It had been hoped to announce the programme for 2012 no later than September 30, but that will not now happen.
Publication of the fixture list had originally been delayed because of discussions about funding from the Levy Board.
The fixture allocation process had been suspended since early June, but funding was expected to be confirmed at the next Levy Board meeting on September 14, after which the total number had been due to be finalised.
It had already been decided to cut the number of racing fixtures in Britain by at least 80 after the British Horseracing Authority decided to cap the number at 1,400.
A statement from the BHA read: "At the request of its stakeholders - the Racecourse Association and Horsemen's Group - the British Horseracing Authority has agreed to further delay publishing the 2012 fixture list until after September 30.
"The Authority remains deeply concerned about the downgrading of the race programme, the declining horse population and the associated impact on competitiveness levels in 2012, all of which are the result of a Levy system that is failing the sport."
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