Premier Jeremy Rockliff says he is "actively considering" calling an early election, with a decision on whether to follow through on his ultimatum expected in the coming week.
Mr Rockliff met with independent MPs Lara Alexander and John Tucker on Friday, February 9 in an attempt to resolve an impasse.
The Premier previously threatened to call an early election unless the pair of former Liberal backbenchers agreed that they would not vote for motions put forward by Labor or the Greens.
Neither independent agreed to the request, but said they were willing to guarantee confidence and supply.
Speaking on Sunday, Mr Rockliff said the meeting "didn't result in what he required", and said he was prepared to make good on the ultimatum he issued more than one week ago.
"I'm actively considering requesting the Governor for an early election," he said.
"I had a good meeting with Ms Alexander and Mr Tucker on Friday. It didn't result in what I required.
"We need to have stability and certainty. The Labor Party have gamed the parliament, and used Mr Tucker and Ms Alexander to help create that disruption which Tasmanians don't like."
Mr Rockliff repeated previous statements that he would consult with the cabinet and parliamentary party members before calling an election.
That meeting is scheduled for Tuesday, February 13.
Labor Member for Lyons Jen Butler said Tasmanians had enough of the speculation, and called on the Premier to make a decisive move.
"Everyone I'm speaking to just wishes that the premier would get on with it and either call and election or start governing the people of Tasmania," Ms Butler said.
"Clearly that's not happening at the moment.
"They're in a minority (government), they've been in a minority for quite some time now. Clearly he's not able to manage relationships within those arrangements."