AFTER a stern word from his beloved political party, outspoken mining magnate Clive Palmer has backed down in his criticism of the Newman Government.
The Sunshine Coast-based billionaire, who is a long-time and hefty financial supporter of the LNP, began to voice his opposition to the Queensland Government's policies when he publicly denounced widespread public service job cuts.
He teamed up with Together union to donate $250,000 to a "Hope Fund" to counsel and train sacked public servants.
Mr Palmer's criticism intensified when it was revealed in last week's budget that coal companies in Queensland would be hit with a royalties increase.
Mr Palmer labelled the decision stupid and predicted Premier Campbell Newman would be out of office before Christmas if his policies continued.
The very public display of disapproval earned Mr Palmer a letter from LNP Queensland acting president Gary Spence who asked Mr Palmer to reconsider his membership.
After a week of consideration, Mr Palmer issued a statement on Thursday morning outlining his willingness to continue to support the LNP.
"I have placed my views on certain policy issues on the public record, but I acknowledge that it is the intent of the government and the LNP to complete the task of restoring Queensland's economy and I respect that the government is listening to the feedback it has been getting and is acting in the best interests of all Queenslanders.
"Indeed, none of my public statements to date should imply that I do not understand completely the enormous task that Premier Campbell Newman and the LNP State Government have before them in fixing the absolute mess left by Labor."
The Coolum Resort owner said any comments he made were in his capacity as "director of companies that generate over $1.4 billion each year for the Queensland economy and employ over 2000 people".
Mr Palmer said he loved Queensland and LNP and intended to "fully support the Newman Government in its efforts to listen to Queenslanders and build an even better Queensland."
"I have invested 40 years of my life to the support and development of our free enterprise party.
"I will not do anything that diminishes the LNP's capacity to serve the people of Queensland who have put enormous faith in our team to fix the massive problems left by Labor," he said in his statement.
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