Govt reaches deal with Qld racing industry

The Queensland government has resolved a looming racing strike.

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A strike threatening to derail Queensland's spring racing season has been averted after the state government agreed to boost prize money funding.

Following meetings on Friday between the Thoroughbred Alliance and Deputy Premier Jackie Trad and Racing Minister Stirling Hinchliffe, Queensland thoroughbred races will receive an extra $26 million in prize money over the next six months.

The deal involves an immediate $18 million injection and a further $8 million in six months. While it has come too late to salvage race meetings this weekend, it does mean future meetings won't be affected by strikes.

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