G20 Leaders' summit will be held in Brisbane in 2014

Canberra will pick up almost the entire tab for the G20 Leaders' summit in Brisbane in 2014, including the considerable cost of extra police and security, the Herald Sun reports.

In a statement this morning, Mr. Newman said Queensland was ready and willing to work with the Australian Government to host an "excellent summit" but "these events involved considerable expense".

"The former Labor Government left behind a $2.8 billion deficit and debt fast approaching $100 billion and therefore Queensland is not in a position to contribute a significant amount of funding toward the cost of hosting the G20 Leaders' Summit," Mr Newman said.