New figures released by the ABS today show Queensland had the worst-performing economy of any state in the last quarter.
The state's seasonally adjusted final demand fell by 0.4 per cent in the September quarter, due in large part to a decline in engineering and construction work.
LNP Deputy Leader and Shadow Treasurer Tim Mander said Queensland now had worst-performing economy and highest unemployment of any state in the nation.
"After four years of Labor, Queensland's economy is going backwards," Mr Mander said.
"Nationally the economy continues to grow, so the problems we face are down to Annastacia Palaszczuk's economically incompetent government.
"All Annastacia Palaszczuk has delivered is tax, unemployment, debt and a shrinking economy.
"Queensland used to be Australia's economic powerhouse, but we're fast becoming a basketcase."
Mr Mander said with a massive fall of $422 million in private non-dwelling construction and a fall of $644 million in business investment, it was no wonder Queensland's economy had collapsed.
"This just goes to show you can't tax your way to growth," Mr Mander said.
"The Palaszczuk Labor Government has also refused to rule out any new taxes on top of their five new taxes that are already weighing the Queensland economy down.
"The Palaszczuk Labor Government is costing Queenslanders their jobs.
"Only the LNP with its commitment to no new taxes and to cutting red tape can ensure that Queensland's economic future is secure."