The Accident Compensation (Financial Responsibility and Transparency) Amendment Bill has completed its second reading with guarded support from most MPs.
ACC Minister Nikki Kaye said the bill would make important amendments to legislation by creating a more financially transparent method of fixing ACC levies. ACC would have to follow guidelines for the long term sustainability of the fund and lay out how a policy funding statement would be implemented.
The bill would increase ACC’s reporting requirements and help ensure levies are not over collected.
Labour’s Sue Moroney said if the bill did what its title said it would be a good thing, however it did not. The Government had hiked up levies in an attempt to get to surplus and this bill would not prevent this happening. Labour would propose an amendment to put an emphasis on reducing accidents and injuries. If the amendment was not accepted Labour would probably not support the bill.
The bill completed its second reading by 108 to 12 with National, Labour, Greens, Maori Party, ACT and United Future in favour.
MPs returned to the second reading debate of the Tariff (Free Trade Agreement between New Zealand and the Republic of Korea) Amendment Bill.
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