Campaign is backed.
Mr Swales tabled an Early Day Motion - Campaign for a fair British Horserace Betting Levy - calling on loopholes in the Horserace Betting Tax Levy to be closed so more money goes to local racecourses.
Current loopholes allow off-shore bookmakers to avoid paying the levy altogether. It has meant the amount raised by the levy has fallen by over a third in two years from pounds 115m to pounds 75m.
Mr Swales said: "I am calling on all MPs to sign this motion to help invest in local racecourses and protect the horse racing industry. Redcar racecourse is an important part of the town and local economy and I am working hard to make sure they get the money they deserve."