Is This An About-Face By The Government? Grey Power NZ Federation believes it is.

In this morning NZ Herald [Wed 1 June.] the ACFC Minister Dr Nick Smith announced that ACC will be opened up to private competition under a proposal detailed in a document on ACC reforms.

Grey Power is deeply disturbed that the Government has gone back on its word as when the Hon Bill English was addressing the Annual General Meeting of Grey Power in Christchurch in 2010 answered with an emphatic NO when specifically asked by a delegate if his Government contemplating either a partial or complete privatisation of ACC.

As insurance companies who participate in this new scheme will be required to make a profit Grey Power is under no illusion that either the benefits from claims will be drastically or else premiums will be very high almost to a point of being unaffordable.

Further Grey Power notices there is no specific mention of if or how superannuaints will be affected by the changes and it [Grey Power] would like to know.

Grey Power is now wondering if this is a taste of things to come.

J. W. Kerr

Chairman

ACC Portfolio

Grey Power NZ Federation Inc.

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