The "Strong Choices" plan, which has been in formulation since Mr Nicholls announced possible asset sales in March, will have to be endorsed by state cabinet before going to the party room to be adopted as policy.

Following consultation with the electorate, Mr Nicholls has moved from a position of selling assets, such as the electricity network, to leasing them for periods of up to 99 years, which the Labor opposition insisted was as good as a sale.

Mr Nicholls said the public wanted the Newman government to bring down Queensland's debt.

"(Queenslanders) want action, but importantly they also want to know that we have some control over our businesses and our assets," Mr Nicholls said.

"We've considered the options around that, we've taken advice from our independent expert advisers and, as the Premier has said, no asset sales but asset leases is something that we can do that will deliver possibly even better results than we had originally forecast."

Premier Campbell Newman said Tuesday's party room meeting would be a watershed moment for his government.

"This is too important for people to just accept any decision of cabinet and that's why the full party room will be given an opportunity to scrutinise this, to challenge myself and the Treasurer and ultimately we will have a vote," he said.

"Tuesday will be an important and momentous day for Queensland and for my parliamentary team."

But Shadow Treasurer Curtis Pitt blasted the government's rhetoric and said long-term asset leases were effectively asset sales, something the Bligh government was severely punished for at the polls in the 2012 election.

"No matter what spin the LNP puts on it, a long-term lease is a sale. We know this because Tim Nicholls said it himself in Parliament in 2010," he said.

"If the LNP backbench ticks off the Premier's asset sales plan, every single one of them will be breaking the LNP's promise not to sell off assets."

But Mr Newman said the government had "consulted extensively" on its plans.

"It is about how we get this state back on track financially, pay down debt, massively invest in infrastructure and create 25,000 new jobs and also put this state on a path to a very bright future," he said," he said.

Mr Newman said he looked forward to the debate both in the party room and beyond.

"I assume we'll get some robust questioning in Parliament the following week," he said.

Mr Nicholls said the government would seek a mandate at the 2015 election before proceeding with the plan.