Last week hundreds of thousands of people descended on Berkshire to attend Royal Ascot. On Thursday, the course hosted the Britannia Stakes and, as the UK charities minister, I welcome the financial benefits this race provides to some of our most important charities, with bookmakers donating all profits from the feature handicap to worthy causes.

This government is immensely proud of the history around the race and our broader horseracing heritage. We are determined to help the industry thrive so the sport can continue to hold its special place in the nation’s hearts.

Since we published our gambling white paper in April, I’ve heard concerns across the racing industry, often covered by the Racing Post, about the impact our new regulations may have on punters and the sport’s revenues. The government and the Gambling Commission will launch formal consultations over the coming weeks and months looking at the plans in more depth ahead of our main measures – including the gambling operator levy and online slot stake limits – coming into force over the next year.