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

Gordon Campbell: On Bridges’ ‘Meth Crooks’ Leadership Failure

Back in June, Bridges publicly accepted that Housing NZ had got it wrong, and that the National government had acted upon bad advice.

Now, you’d think this admission would create a broad bi-partisan basis for compensation to those families who had been unfairly evicted, at considerable cost and emotional distress. Some people had lost their possessions in trying to meet the expense of the upheaval.

Not everyone felt so compassionate. More>>


Multimedia & Transcript: Acting PM's Press Conference

Winston Peters, Acting Prime Minister while Jacinda Ardern is in New York for the UN Leaders' Week, held a short press conference Monday after chairing this week's cabinet meeting. More>>

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. More>>


Pay Equity: Cabinet Funds Deal For Oranga Tamariki Social Workers

The Minister said that an agreement in principle has been reached between Oranga Tamariki and the PSA on a settlement worth $114.6m over five years. 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>>


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>>


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>>





InfoPages News Channels