MINING magnate Clive Palmer has continued his tirade against the Queensland government, threatening legal action against a bill passed through parliament.
Mr Palmer says the Economic Development Act will drive investment out of the state and increase sovereign risk.
The billionaire, who sensationally resigned from the Liberal National Party (LNP) last week, says he was prepared to launch a legal challenge in the Supreme Court and High Court to test its validity.
"It means that the Government will have the power to take away State Significance status from projects leaving no right of appeal, making our sovereign risk worse than any country in the world," he said in a statement on Wednesday.
"I think Queenslanders need to be very concerned about this legislation and the fact that it is being rushed through so quickly before anybody has a chance to understand it fully.
"The Bill is supposed to be about promoting economic development, but because it has not been done properly it only undermines investment and creates uncertainty."
It's the latest in a string of criticisms levelled by Mr Palmer at the LNP's parliamentary wing.
Mr Palmer was suspended from the party for his outbursts and later resigned after being reinstated.
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