The department and the Queensland racing industry are working together to ensure the industry can capture new markets and exploit exciting new opportunities to create a more prosperous and sustainable industry.
In March, the industry and Racing Queensland proposed a set of reform initiatives covering governance, infrastructure and commercialisation initiatives at a forum organised and hosted by the department.
On 8 June, the Honourable Annastacia Palaszczuk MP, Premier and Minister for Trade, and the Honourable Stirling Hinchliffe MP, Minister for Local Government, Minister for Racing and Minister for Multicultural Affairs, announced that the government would support the industry’s reform agenda.
As part of this reform process, the government will provide an additional $26 million in annual prizemoney for thoroughbred, and $12 million over three years for harness and greyhound racing, as part of a package to ensure that the industry can become more competitive and sustainable in the future.
The government is continuing to support regional and rural communities through the four year $70.4 million Country Racing Support Program.
A summary of the reform initiatives arising from the forum is outlined in Racing Governance and Industry Reforms (PDF, 228KB).