Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Accident Insurance Bill Stops Overseas Takeovers

Accident Insurance Bill about stopping overseas takeover - Trade Union Federation

“The Accident Insurance (Transitional Provisions) Bill is a small bill with big implications”, Trade Union Federation President Maxine Gay told the special select committee considering the Bill today.

“All five of the private insurance companies who have invested in the workplace insurance market are wholly overseas owned. With the market itself valued at .5% of our total GDP, privatised ACC is a vivid example of what is wrong with New Zealand’s current social and economic direction.

“If we cannot back ourselves to run this scheme - whose very essence is community responsibility - then we have no hope of changing that direction and re-building a caring society with a strong economic base.

“New Zealand can - and must - run a single, state managed fund which supports New Zealand workers and business and whose surpluses remain in the country.

“It is abhorrent for the state to remove the common law right to sue for negligence and then compel the payment of a premium on every worker’s wages to private, overseas owned insurance companies. It is private enrichment at public expense.

“If nothing else, the balooning balance of payments deficit reminds us exactly where that private profit will go and why it cannot be allowed to continue.”

Ms Gay hit back at the NZ Insurance Council saying that while there was a lot of money going into its campaign it did not represent the interests of local business. She quoted from Canterbury Manufacturer’s Association CEO John Walley in the latest edition of the “NZ Manufacturer”:

A number of gains in the operation of ACC have been achieved in recent years, irrespective of the privatisation of the scheme. We encourage the Government to ensure that its new scheme has a strong board of directors and management that can lock in these strategic improvements.

“As Mr Walley recognises, where there is the political will, there is no reason why the state managed single fund scheme cannot equal and exceed the efficiency of private insurers. The difference is that unlike the overseas owned private insurers it will not want its pound of flesh at the end of the day,” said Ms Gay.

“Workers have already begun to feel the bite from private insurance companies and we have produced some evidence of that today. We believe business too can see that where there is the political will to make ACC work this is preferable in every way to allowing overseas companies to take over the scheme. It is a key political test for this Government to ensure that this takeover does does not occur,” Ms Gay concluded.

The TUF is scheduled to appear before the select committee at 11.20 am on 3 February.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Crowdsale And Crowdfunding Campaign: Help Create The Future Of Independent News

Two weeks to go! The Scoop 3.0 plan aims to create NZ’s first community-owned, distributed news and media intelligence ecosystem in 2019. We believe this ScoopPro media monetisation approach can be scaled and spread globally to support local and independent news efforts in regional New Zealand and around the world.

Scoop is an ecosystem, it would not exist without those who contribute to it, read it and rely on it for professional media purposes. Generous past support from this ecosystem has enabled us to come this far in developing our business model. Support our PledgeMe Campaign>>

 

14/11: Two Years’ Progress Since The Kaikoura Earthquake

Mayor John Leggett said it was a day for reflection, but also a time to recognise the work by many people to support progress towards recovery made across Marlborough since November 2016. More>>

ALSO:

Pike River: Mine Drift Re-Entry Plan To Proceed

“I’ve decided the Te Kāhui Whakamana Rua Tekau Mā Iwa - Pike River Recovery Agency, recommended course of action to enter the drift, using the existing access tunnel, is by far the safest option,” said Andrew Little. More>>

ALSO:

Appointments: New High Commissioner To Australia Announced

“Dame Annette King needs no introduction given her long running career as a parliamentarian where she has previously held a number senior Cabinet portfolios, including Justice, Police and Health. She also was Parliament’s longest serving female MP with 30 years’ service,” said Mr Peters. More>>

ALSO:

Two Years Since Kaikoura: Silvia Cartwright To Lead Inquiry Into EQC

“The inquiry will be the first of its kind under the Public Inquiries Act 2013 and will have all the powers of a Royal Commission, be independent of Government and make its report directly to the Governor-General. More>>

ALSO:

Gordon Campbell: On The Royal Commission Into Child Abuse

Obviously, it is good news that the coalition government has broadened the scope of its Royal Commission into the abuse of children, beyond its previous focus on children in state care. More>>

ALSO:

Cases Delayed: Court Staff Refuse To Handle Sentencing Papers

Dozens of court cases have reportedly been delayed, as court staff escalate industrial action at two Auckland courts by enforcing a ban on handling sentencing papers. More>>

ALSO:

Education: Primary Teachers Rolling Strikes

RNZ Report: More than 100,000 primary school students in Auckland will be home from school today as teachers and principals walk off the job for the second time this year. It's the start of a week of rolling one-day strikes around the country, after the collapse of contract negotiations last Thursday. More>>

ALSO:

"Process Was Sound": Inquiry Into Haumaha Appointment Released

The Inquiry’s purpose was to examine, identify, and report on the adequacy of the process that led to the appointment. It found the process was sound and no available relevant information was omitted. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels