Drivers caught travelling more than 40km/h over the speed limit will have their licence immediately suspended as part of the new changes, the newspaper said.
High-risk speeding offences already attract a suspension, but there is generally a 21-day wait until the suspension period comes into effect.
Last year, 299 people died on Queensland roads, making it the highest annual road toll since 2009.
The carnage on the roads led to the state government holding a roundtable meeting earlier this year with road safety experts and stakeholders to discuss ways to address the problem.
Bailey told the Courier Mail discussions at the road safety roundtable had repeatedly come back to speed being responsible for taking many lives on the road.
“We saw too many fatal crashes last year where speed was a contributing factor, and so we’ll be looking at a harsher penalty for high range speeding offences,” Bailey was quoted as saying.
“Another issue raised was driver education, and so we’ll look at a potential road rule refresher when people go to renew their licence.
“Thankfully we are off to a far better start to the year on our roads in 2023 but we know how quickly that can change, which is why we need to do all we can to make our roads safer.”