Parliament

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

 

Govt Signals Around $1b of ACC Levy Reductions

Govt Signals Around $1b of ACC Levy Reductions

Hon Judith Collins

Minister for ACC

16 May 2013

Continuing improvements in ACC provide an opportunity for significant levy reductions to benefit businesses and households, ACC Minister Judith Collins says.

“The Government is confident that a decrease in ACC levies is sustainable and is allowing for a reduction of around $300 million for 2014/15, increasing to a reduction of around $1 billion in 2015/16,” Ms Collins says.

This follows a $630 million reduction in levies for households and businesses in 2012/13.

“Over the past year, ACC has focused on regaining the trust and confidence of New Zealanders and on improving the service it provides to claimants.

“I am very pleased to see ACC continuing to work on these priority areas and investing in better quality outcomes, improving privacy, culture change, customer service, and importantly, injury prevention.

“This is alongside continuing high performance in its investments. At the end of February 2013, ACC’s investment returns were $1.1 billion ahead of budget.

“This continued improvement reflects prudent management of ACC, particularly given its new leadership and the significant challenges it has been dealing with.

“The potential 2014/15 levy reductions would leave around another $300 million in the economy for businesses and families.

“The Government is currently working with the ACC board to review its funding policy, with the aim of improving the governance and transparency of the levy-setting process, while ensuring that it reflects the Government’s objectives for the ACC scheme.

“Already there is general consensus that the improved performance of the ACC scheme makes substantial levy reductions appropriate and sustainable. Therefore, I am signalling a likely further reduction from 2015/16.

“Final decisions on levies for 2014/15 will be made later this year, following public consultation.

“The future for ACC is bright and will be of significant benefit to households and businesses alike,” Ms Collins says.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

General Assembly: Ardern Rejects Trump Call For War On Drugs

New Zealand will not be signing the United States' document calling for global action on the war on drugs, Prime Minister Jacinda Ardern says.

Ms Ardern is in New York for the United Nations General Assembly this week, along with about 140 other world leaders.

US President Donald Trump is kicking off his week at the UN by holding an event to promote the US document called the Global Call to Action on the World Drug Problem. More>>

 

Hunting v Pest Control: Tahr Control Needed To Protect Alpine Habitats

A cull of introduced Himalayan tahr browsing conservation land in Kā Tiritiri o Te Moana/ the Southern Alps is needed to protect special alpine plants and their habitats, Conservation Minister, Eugenie Sage said. More>>

ALSO:

Protest At Sea: Judge Discharges Greenpeace Activists

The judge today discharged Norman and Howell without conviction, saying the cumulative consequences of a conviction would be out of proportion to what was “low level” offending off the Wairarapa coast in April 2017. More>>

ALSO:

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:

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