Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Another Air New Zealand

Another Air New Zealand

Thursday, September 20 2001 Richard Prebble Press Releases -- ACC


The massive $852 million loss by ACC is another Air New Zealand, said ACT Leader Richard Prebble.

"The true losses of ACC are not just the deficit of $313 million, but also the $539 million loss that ACC made in underwriting that will have to be paid for.

"The Labour Government has already decided to push the loss onto the motorist with a $20 increase in premiums and onto small business with a 25 percent increase on ACC premiums for the self-employed. Emergency services like ambulances and the fire service face a significant increase.

"This is a major corporate failure and the biggest by a state entity ever.

"The Government must take full responsibility. Business and the ACT party warned the Government that renationalising ACC would create a monopoly and great risk.

"The private sector had promised a further 20 percent reduction in premiums this year and instead we not only see an increase in premiums but ACC has not performed in rehabilitating those injured by accidents ' a human tragedy.

"A sign of this Government's lack of business knowledge is a statement by the Minister in Charge of ACC, Lianne Dalziel, who describes this loss as 'a good performance'.

"I believe the Minister can't read a balance sheet. What the Government should do is admit they have made a billion dollar mistake and reintroduce competition and choice into personal accident injury insurance," Richard Prebble said.

ACT's Finance Spokesman Rodney Hide said the loss is so great that ACC will have to be revalued, turning the Government's projected surplus into a deficit. "Dr Cullen does not have the surpluses he thought this morning were available to finance an increased programme of public works. This loss is so large it will affect the whole economy and every New Zealander," Mr Hide said.

For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Werewolf: What Does Winston Peters Want His Legacy To Be?

A lot of people in New Zealand seem to resent Winston Peters and the power that he appears to have. “Appears” being the operative word. In reality, Peters will have power only up to the point that he uses it.

By next week, he’ll have become just another junior player in an MMP governing arrangement, battling to hold onto the gains he was promised. More>>

 

Rising Toll: Road Safety Needs To Be A Higher Priority

Official advice released to the Green Party under the Official Information Act shows that the previous National Government dismissed an option to make road safety its most important transport priority after being told the road toll was rising. More>>

ALSO:

Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>

ALSO:

Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>

ALSO:

Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>

ALSO:

Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election