Former premier Campbell Newman has hit back at his former treasurer Tim Nicholls, after the LNP leader disowned Mr Newman's economic policies at a Queensland Media Club lunch on Tuesday.

Mr Nicholls apologised on behalf of the LNP at the Brisbane lunch, saying the previous LNP government "broke the trust of Queenslanders" and said he had "learnt his lesson" over asset sales.

"In moving quickly we (the previous Newman government) failed to take Queenslanders with us, and I acknowledge that we broke the trust of Queenslanders, and for that I am sorry," he said.

However, Mr Newman on Tuesday night criticised Mr Nicholls for his comments.