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November 29 2012, 1:05PM

Mining magnate Clive Palmer claims members of the Queensland government want him put in jail and his assets confiscated.

The colourful billionaire claims he learnt three weeks ago that the Liberal National Party (LNP) executive, Premier Campbell Newman, Deputy Premier Jeff Seeney and Treasurer Tim Nicholls wanted to "shut up Clive Palmer".

"People in the government and senior figures in the public service were conspiring to put me in jail and to confiscate all the assets that I have," he told reporters in Brisbane on Thursday.

Mr Palmer said he did not believe it was true at first, but now he was worried.

He said the public should be gravely concerned.

Mr Palmer left the media conference without taking questions but has called a second conference at Parliament House for 3pm (AEST) on Thursday.

The Courier-Mail reports Mr Palmer, a former LNP member, wants to start a new political outfit call the United Party and is courting Katter's Australian Party to form a coalition.

Sidelined LNP MP Carl Judge says he has been talking to Mr Palmer but was cagey when asked if it was about joining a possible new party.