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

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news