Sunday, March 7, 2010

ACC Changes Necessary

I have been quite involved in the policy and Select Committee work that resulted in the ACC amendment Act being passed recently. This will ensure ACC is affordable, sustainable, and fair for current and future generations.
ACC claim costs have risen 57 per cent in the past four years - five times the rate of inflation - and the unfunded liabilities have grown from $4 billion to $13 billion.
The scale of levy increases required this year without these law changes would be crippling for workers, motorists, and businesses. The law changes enable the levy increase this year for the average worker to be reduced from $550 to $150. The levy increase for motorists is $30 a car, down from $104. And for employers the average levy increase is 12 per cent instead of 44 per cent.
This law change is part of the Government’s objective to secure the long-term future of ACC as an effective and fair 24/7 no-fault insurance scheme for all New Zealanders.
More information:
http://www.beehive.govt.nz/release/affordable+sustainable+and+fair+acc

No comments:

Post a Comment