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A crisis meeting of leading South Australian racing industry figures will be held today where the funding issues afflicting local racing will be addressed.

The South Australian Government is under fire for its refusal to provide adequate funding to the local racing industry from new betting taxes.

The decline in funding has seen several high-profile trainers either move interstate or announce plans to abandon SA racing.

Champion Adelaide jockey Jamie Kah has also joined trainers Lloyd Kennewell and Philip Stokes in relocating to Victoria due to poor prizemoney levels.

Funding for feature races in Adelaide has been slashed yet the SA Government says the racing industry must present a business case for maintaining or increasing prizemoney levels.

Thoroughbred Racing South Australia met with Government officials last Friday but nothing positive has emerged from that meeting to this point of time.

Sam Hayes, who runs Cornerstone Stud, said the SA industry is wracked by uncertainly after the SA Government has said it will not address funding arrangements for the racing industry until the state budget in May.

"That's the point we are trying to make. We can’t wait for May or June, we need to know sooner," Hayes said.

"We've got our yearling sale coming up in March and there are a lot of investors and owners making decisions on where they are going to buy and race horses.

"It's a pretty critical four weeks."