Queensland’s racing minister will meet with thoroughbred racing officials in a bid to cool rising tensions over the state’s new gambling tax.

The thoroughbred industry is threatening strikes on Cox Plate and Melbourne Cup day unless it gets an immediate prize money cash injection from Labor’s point of consumption tax, in line with southern states.

But the state government says the kickback is big enough and comes on top of millions in government funding each year.

The new tax means betting houses with headquarters overseas or interstate must now pay 15 per cent tax on all bets placed in the state.

Sky News host and journalist Peter Gleeson tells Ray Hadley he’s pointing the finger at Queensland Treasurer Jackie Trad.

“She’s got no interest in racing. She thinks that racing is for millionaires smoking cigars.

“You and I know it’s an industry built on the back of the battler.”

Click PLAY below to hear the full interview