Clive Palmer, federal MP for the Sunshine Coast seat of Fairfax, says he’ll try to overturn any asset sales in Queensland.

Federal MP Clive Palmer has threatened to reverse any Queensland government asset sales.

The Newman government is expected to unveil asset sales in its 2014-15 state budget on Tuesday.

Mr Palmer, leader of the Palmer United Party and member for Fairfax, said asset sales would be totally against the wishes of Queenslanders.

He has warned potential buyers that if his party were to claim seats in next year’s state election, it would aim to take back any assets sold-off by the Newman government.

“If any assets are sold between now and the next election, and we are forming part of the Queensland government, we will immediately resume them without compensation,” he told reporters in Canberra.

“So it’s a matter of buyer beware; we’re not going to see our assets sold off to the highest bidder.”

Federal Labor MP Terri Butler said Queenslanders were bracing for more pain as the Newman government would most likely pass on federal budget funding cuts to pensioners.

“It’s a very, very grave shame that Campbell Newman won’t stand up to Tony Abbott,” she said.

“They’re in lockstep and we’re expecting to see another harsh budget from a liberal government today.”

Queensland Treasurer Tim Nicholls has confirmed the federal government’s $50 million-a-year-cut to concessions on public transport, electricity, water and rates would impact on pensioners.

He said the state has tried to fill some of the funding gap but hadn’t been able to absorb all of it.

He’s due to hand down the budget at 1430 AEST.