"This position was made clear on Monday during the presentation of the LNP's Economic Blueprint to get off the back of businesses, grow jobs, cut red tape, repay Labor's debt and restore our AAA credit rating," Mr Newman said

"Contrary to some reports of further plans to privatise QR National, there is no more QR National to privatise. QR National was 100% privatised by Labor, which we opposed.

"Most of the proceeds have already been spent, while debt increased and according to Labor, the remaining proceeds are allocated for debt reduction. (Source: Andrew Fraser Media Release 22 November 2011)

"We don't believe that Labor can be trusted. They spent the previous proceeds and Labor has already borrowed around $2.2 billion against those remaining shares (Source: The Australian October 10 2011). So we believe Labor will spend this money and won't use it to pay back debt as promised.

"The LNP is committed to using any remaining proceeds as is now intended, to pay down debt, which is the most appropriate way to use these remaining proceeds of a capital sale."

Mr Newman said his comments today were only restating the LNP's longstanding position, which was made clear at a media briefing on Monday 20 February and which has been reported by several media outlets already.

"The LNP has long committed to no further privatisation of assets without seeking a mandate at an election," Mr Newman said "And nothing has changed."