The EMA has welcomed reductions to ACC levies announced as part of the 2015 Budget as timely and about right.
EMA CEO Kim Campbell says the $500 million reduction over two years comes at the right time following ACC’s sound financial performance and the solid footing which has the scheme now fully funded.
“We also like the fact there will be a more transparent levy-setting framework in the future and the Minister’s assurance around more stable levies in the future,” said Mr Campbell. “This is something our organisation has pushed hard for in recent years as levies have varied greatly according to the financial fortunes of the ACC funding base.
“That is reflected in the very welcome fact that the motor vehicle levy will drop to almost a third of what it is now in just two years’ time. There will also be significant reductions to the work levies, which all our members will be welcome and the earner’s levy also comes down.
We’re also pleased to see that as a new Minister to the ACC portfolio, the Hon Nikki Kaye has quickly come to terms with the issues and made such a positive step in the proposed ACC Financial Responsibility and Transparency Amendment Bill.”