Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Lower ACC levies welcome

Media release
17 September 2013

Lower ACC levies welcome

BusinessNZ has welcomed the prospect of lower ACC levies.

ACC consultation documents show employer, employee and motor vehicle levies are set for reductions of 15 – 17 percent next year.

BusinessNZ Chief Executive Phil O’Reilly says better management of the ACC scheme, based on sound insurance principles, is starting to deliver lower premiums.  

Experience rating, where employer levies can be reduced in response to a safe work history, is helping to keep the premiums down.

The work and earners accounts are now fully funded and the position of the motor vehicle account is starting to improve.

A proposal to introduce risk rating for cars based on crash results is also a positive move, as safety features in newer cars can significantly reduce the number and severity of road injuries.

But the continued significant cross-subsidisation in the motor vehicle account is still a concern, Mr O’Reilly says.

“Car owners are still significantly subsidising motorcycle owners.

“Overall transparency could be improved, with an independent body preferable to the current political levy-setting process.

“ACC has the potential to be still better governed and managed, to further reduce accident numbers and improve rehabilitation outcomes.”    

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: Leighton-Led WGP To Build, Manage Transmission Gully

The Wellington Gateway Partnership, led by a unit of ASX-listed Leighton Holdings, has won the $1 billion contract to build the Transmission Gully road north of Wellington. More>>

ALSO:

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news