Scoop has an Ethical Paywall
License needed for work use Register

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


Crown accounts proof of Govt ACC scaremongering

4 November 2009
Media Statement

Crown accounts further proof of Government scaremongering over ACC

The release of Crown Accounts show ACC investment returns in the last three months are $700 million higher than forecast, says Labour’s ACC spokesperson David Parker.

“This is further proof of the Government’s manufactured ACC crisis.

“Labour has always said that a large part of ACC Minister Nick Smith’s so-called financial crisis at ACC has in fact been a result of the impact of the global recession on its assets, which were beyond the corporation’s control.

“The Crown Accounts released today confirm that ACC’s assets are benefiting from signs of international economic recovery as anticipated,” says David Parker.

“This means the gap between ACC’s assets and liability has already begun to decrease.

“It already has nearly $12 billion in assets and last year collected $1 billion more in levies than it spent on claims,” says David Parker.

“Just last week Statistics NZ confirmed workplace injury rates were on the decline, which also shows that ACC, employers and unions are bringing injury rates down.

“This is all confirmation of Labour’s view that Nick Smith has used the recession to misrepresent ACC’s position to justify privatisation and reductions in the scope of the scheme.

“All the evidence shows there is no justification for National’s ideologically blinkered view that privatisation of the scheme will reduce costs – in fact it shows the opposite is true.

“National’s plans will result in the dismantling of a world-leading scheme and see New Zealanders left paying more for less to pay the bills of lawyers and foreign-owned corporates and to cover much higher administration costs,” David Parker says.


Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Skewed Media Coverage Of Gaza

Now that he’s back as Foreign Minister, maybe Winston Peters should start reading the MFAT website which is currently celebrating the 25th anniversary of how Kiwis alerted the rest of the world to the genocide in Rwanda. How times have changed ...

In 2023, the government is clutching its pearls because senior Labour MP Damien O’Connor has dared suggest that Gaza’s civilian population - already living under apartheid and subjected to sixteen years of an illegal embargo, and now being herded together and slaughtered indiscriminately amid the destruction of their homes, schools, mosques, and hospitals - are also victims of what amounts to genocide. More

ACT: Call To Abolish Human Rights Commission

“The Human Rights Commission’s appointment of a second Chief Executive is just the latest example of a taxpayer-funded bureaucracy serving itself at the expense of delivery for New Zealanders,” says ACT MP Todd Stephenson. More

Public Housing Futures: Christmas Comes Early For Landlords

New CTU analysis of the National & ACT coalition agreement has shown the cost of returning interest deductibility to landlords is an extra $900M on top of National’s original proposal. This is because it is going to be implemented earlier and faster, including retrospective rebates from April 2023. More




InfoPages News Channels


Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.