Queensland races will be cancelled for two weeks as jockeys, trainers, owners and breeders go on strike.

All participants in Queensland will stand-down for meetings scheduled at Doomben, Gold Coast, Toowoomba and Townsville on October 26 and then again on November 6, Melbourne Cup Day, across all TAB meetings.

The Racing Industry Participants Association (RIPA) will go ahead with threatened industrial action after negotiations over the Point of Consumption (POC) tax stalled.

The alliance is demanding 100 per cent of the racing component of the POC tax be returned to racing and has now lost patience.

Treasurer Jackie Trad and Racing Minister Stirling Hinchliffe failed to meet last night’s deadline to table an improved offer.

In a statement, the RIPA says it’s been left with “no alternative”.

“Despite claims that 100% of this new tax will be returned to racing, the clear fact is none of this will be returned to thoroughbred racing this year.

“Prize-money is our wages. Ten years ago our people were receiving 75% of what NSW racing delivered in Prize-money and now Queensland sits at 45%, and as all the other states embrace this new betting tax this gap will only widen further.”

Click below for the RIPA’s full statement