Hon Dr Nick Smith
Minister for ACC
Labour hypocrisy over ACC levy increases

It is a bit rich for Labour to today be protesting increases in ACC levies given it was its financial mismanagement that created the problem, ACC Minister Nick Smith says.

“ACC lost $2.4 billion last year and another $4.8 billion this year. Its unfunded liabilities have soared from $4 billion to $13 billion as claim costs have risen 57% in the last four years. If Labour had left ACC in good shape these levy increases would not be required.

“It was totally reckless that Labour, even after the reported $2.4 billion loss to the year ending 30 June 2008, further extended the ACC scheme right before the election for self harm and suicide, seasonal workers, and superannuitants.

“The choices are putting up levies or cutting back on entitlements and the Government’s approach is balanced mix of both. The Government’s ACC Reform Bill will enable it to avoid the scale of levy increases for vehicle owners, including motorcyclists, proposed by the ACC Board.

“The hypocrisy is on Tuesday Labour opposes the Bill that pulls back on entitlement extensions but today protests at levy increases. Labour cannot go on pretending that ACC can be extended to cover all manner of things but nobody has to pay.”

ENDS

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