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Labour has been blamed for 1,400 job losses at Paddy Power owner Flutter after the gambling giant announced cuts to its UK and Ireland workforce. The company, which also owns Sky Bet, Betfair and Tombola, is axing around 15% of its staff in the division, blaming last year’s increase in gambling duties.

The announcement adds to a growing number of job losses since the last Budget, as businesses face higher costs. Flutter’s decision puts the spotlight on the impact of Labour’s tax policies on the gambling industry, with the company directly linking the cuts to last year’s increase in duties.

UK and Ireland boss Kevin Harrington, Flutter UK and Ireland chief executive, said: “The material increase in betting and gaming duties announced in the UK budget last year has fundamentally changed the economic model of the regulated betting and gaming industry in the UK while helping to fuel the unlicensed, unregulated market.

“As we warned a year ago, we cannot fully absorb a rise of this magnitude without reducing our fixed cost base and therefore must restructure our business so that we can best position ourselves for the future.

“We remain confident that we are well placed to benefit from share gains given our position as the largest scale operator in the UK.”

The 1,400 roles affected are across Flutter’s UK and Ireland business, although further details of the planned redundancies were not included in the available report.

The company is one of the biggest names in the betting industry, with Paddy Power a familiar presence on Britain’s high streets and its other brands operating across online gambling and gaming.

The job cuts will represent a significant reduction in the division’s workforce, with around one in seven positions set to go.

Flutter has blamed the increase in gambling duties for its decision, placing the Government’s tax changes at the centre of the dispute.