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

Gordon Campbell: On The Tax Working Group’s Road Map

Trying to analyse the interim report on the Tax Working Group (TWG) is like trying to review an entire All Blacks game, but at the half- time mark.

With so much still to be finalised, Sir Michael Cullen and his colleagues are going to need all the All Blacks’ fabled finishing skills to get a coherent, fiscally neutral package together by the February 2019 deadline. More>>

 

Meth Testing Report: Housing NZ "To Right Wrong"

Phil Twyford “Housing NZ acknowledges that around 800 tenants suffered by either losing their tenancies, losing their possessions, being suspended from the public housing waiting list, negative effects on their credit ratings or, in the worst cases, being made homeless.” More>>

ALSO:

No Reshuffle: Meka Whaitiri Removed As A Minister

Meka Whaitiri will be removed as a Minister with immediate effect... The decision was made after receiving a report into an incident that occurred on 27 August in Gisborne, involving Meka Whaitiri and one of her staff. More>>

ALSO:

Pay Equity Bill: Making History For Women’s Pay

The Equal Pay Amendment Bill, introduced to the House today, will make it easier for workers to make a pay equity claim , using a more simple and accessible process within New Zealand’s existing bargaining framework. More>>

ALSO:

Suffrage 125: NZ A Trailblazer For Women

“We acknowledge the work of Kate Sheppard, Meri Te Tai Mangakāhia, and all of the suffragists who tirelessly campaigned for the vote… Today we also need to ask each other: how we can continue to make our country a fairer and better place to continue the legacy of the suffragists.” More>>

ALSO:

Asylum: Refugee Quota Increasing To 1500

“The quota increase will take place from July 2020. In the meantime, we will work to increase the number and spread of refugee resettlement and support services. We need to make sure we’re prepared for this change in policy.” More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels