David Ashforth on what the racing landscape will look like in ten years' time

What will racing and betting be like in 2029? Nothing too difficult, then. I thought we might start with the 2029 Derby, if there is one. That's particularly tricky as the runners haven’t been born yet, while Ryan Moore will be 46 and Sir Michael Stoute 84 and may not have a runner.

The state of the economy, which impacts everything, is easier to predict. Leaving the European Union will make the next ten years more difficult. It's a matter of the speed and extent of Britain's relative decline internationally.

Government expenditure and borrowing, already very high, will increase further, even though some electoral spending promises will be ditched. As the last ten years have shown, higher taxation levels don't necessarily mean that people have less disposable income to spend on racehorses, racing and gambling, as long as real (taking inflation into account) wages and levels of employment rise, both of which are uncertain.