But private companies could run buses and trains, with the government opening up public transport to bids from private companies.

Speaking in Queensland Parliament after the Commission of Audit report and government response were tabled, Mr Newman said only five of the 155 recommendations were to do with selling assets.

Power asset sales ruled out

The state government has held the position they would not sell assets without seeking a mandate since before the last election.

For the first time Mr Newman has completely ruled out taking a policy of selling energy assets to the 2016 election.

"We will not be seeking a mandate to seek assets at the next election," he said.