With the inevitable change of Government after Saturday’s Queensland election, the current set up of Queensland Racing is set for a major overhaul.

Deputy Opposition Leader Tim Nicholls said that the LNP will look to dismantling the current Racing Queensland model which oversees all the codes and would replace it with boards for each of the thoroughbred, harness and greyhound industries.

These three boards would then come under the Queensland All Codes Racing Industry Board which would include representatives from all three codes.

An insertion of $2.5m over two years to supplement the QTIS scheme will free up funding for prizemoney which is so desperately needed.

Nicholls said that the current Racing Queensland Limited format was an experiment that hasn’t worked, mainly because of the exclusion of industry participation.

“We want to change that and ensure industry participation to rejuvenate all three codes,” Nicholls said.

“This Labor Government had washed its hands of the racing industry, which was disgraceful for an industry that employed 30,000 people.”

Racing Queensland chairman Bob Bentley says it would be pure madness for the LNP to put into place wholesale changes taking into account the amount of financial resources which would be required for such a hug change to take place.

“It will cost a lot of money to disband the current Racing Queensland model and have separate boards,” Bentley said.

“Their prizemoney plan is welcome as all prizemoney is welcome.”

“But $2.5million is not going to get you very far.”

Police have charged an employee of Brisbane Greyhound Racing Club with fraud after a significant amount of club funds went missing.

A 36 year old woman has been charged with stealing and fraudulently falsifying records and will appear in a Brisbane court on April 23.

Forensic auditors have been appointed by Racing Queensland to investigate financial records of the club with the findings expected to be known in the coming weeks.