Further Funding to Boost Queensland Racing

The Palaszczuk Government is set to further invest in the Queensland racing industry over the next two years following Saturday morning's funding announcement. According to Racing Queensland, the state's Premier, Annastacia Palaszczuk, announced that $41.3 million would be returned to the industry over the next two years from Point of Consumption Tax receipts. The new funding is in addition to the renewal of the Country Racing Program which provides $35.2 million over the next two years in prize money and infrastructure repairs and maintenance for non-TAB racing clubs. "We're investing in infrastructure to rebuild our economy and create jobs, including in racing. That's what this is all about," the Premier said. "Supporting our racing industry to recover from the impact of the pandemic is an important part of our economic recovery plan Racing Minister Grace Grace said the announcement includes a new funding formula that provides the racing industry with greater funding certainty. From July 1, the Palaszczuk Government will now give 35 per cent of that revenue back to the racing industry which equates to $41.3 million over the next two years."