Today the government announced that it could not come to an agreement regarding the sale of the bookmaker Tote. A racehorse consortium made up of the Racehorse Owners Association, Arena Leisure and the Racecourse Holdings Trust had their bid to buy Tote at market value rejected.

According to Reuters the government had Tote valued at £400m by PricewaterhouseCoopers. It was also reported by Reuters that the consortium had put in bids in the range of £300m and £350m