Removal of ACC residuals – “... has to be good for business”

22 September 2015

Media Release

Removal of ACC residual levies – “.... has to be good for business”

Any adjustment to ACC levies that simplifies the scheme has to be good for business.

Welcoming the removal of residual levies, announced today, Auckland Chamber head Michael Barnett said it would help make the ACC levy system more transparent and equitable.

“It will move ACC to a system in which costs will be based more on current revenue generated, and not rely on levies gathered in the past and held to subsidise future costs.”

He noted that it has always been known that the system of residual levies would be removed, once sufficient funds had been collected to meet the ongoing costs of pre-1999 claims.

Confirmation that this step has been taken would overall be welcomed by business. “I see it as evidence that management of the ACC system is becoming more transparent and efficient,” concluded Mr Barnett.

© Scoop Media