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

 


Budget indicates room for further ACC levy cuts

Budget indicates room for further ACC levy cuts

Budget 2014 indicates the Accident Compensation Corporation is on track to provide further levy cuts for New Zealanders of around $480 million in 2015/16, following more pleasing results over the past year, ACC Minister Judith Collins says.

“The Government will make its final decision after ACC’s public consultation, but we anticipate the bulk of these cuts will be for motor vehicle levies, along with the possibility of a levy reduction for employers and the self-employed.”

Depending on the outcome of consultation, this could reduce the average levy for a private motor vehicle by about $130 a year from 1 July 2015.

“ACC’s consistent performance has meant that annual levies for households and businesses have fallen by close to $1 billion since 2011/12,” Ms Collins says.

“The Government remains confident that a decrease in ACC levies next year is sustainable and, as a result, we are indicating a possible reduction in the cost of levies to New Zealanders of around $480 million in 2015/16.

“ACC continues to improve its financial situation, transforming the way it supports injured New Zealanders back to independence and building on its investment returns.”

The Government will also make decisions later this year about the levy-setting process and its underlying principles, so that levies remain sustainable and provide some constancy for households and businesses in the longer term, Ms Collins says.

“It’s important we ensure levies are set in a manner that is not only fair but also sustainable and maintains ACC’s ability to fund entitlements in the future.”

The Minister cautioned that final decisions on the levy rates will not be made until the results of the public consultation by ACC have been considered.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Asylum: Dunne Accepts Hundreds Of Postcards On Refugee Categories

Minister Peter Dunne today accepted over 800 postcards calling for convention refugees to have the same entitlements as quota refugees... The campaign has been run with ActionStation together with LUSH Cosmetics, with postcards being signed in stores around New Zealand. More>>

ALSO:

Reshuffle: PM Announces Changes To Ministerial Portfolios

Prime Minister Bill English today announced the appointment of Gerry Brownlee as Minister of Foreign Affairs, Nathan Guy as Minister of Civil Defence, Nikki Kaye as Minister of Education and Mark Mitchell as Minister of Defence. More>>

ALSO:

Q+A Transcript: CTU Call For 'National Standards' On Wages

‘If you look at countries who do better than us, who pay wages better, who have more competitive industries, more successful economies, they have systems where there are national standards.’ More>>

ALSO:

Energy: Greens Launch Plan For Cheaper And Cleaner Electricity

$112 million for winter warm-up payments to help low-income households cover their power bills • setting a goal for 100 percent renewable electricity by 2030 (in average hydrological conditions) • an investigation into the electricity wholesale market. More>>

ALSO:

Health Workers Respond: People's Mental Health Report Released

The People's Mental Health Review reinforces a recent YesWeCare.nz survey of 6,000 health workers, which found nine in 10 believe they don't have the staff or resources to deliver the care Kiwis need when they need it. More>>

ALSO:

More Mental Health:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news