A bill laying down the principles of financial management of the Accident Compensation Corporation has been sent to select committee with general support.
ACC Minister Nikki Kaye said theAccident Compensation (Financial Responsibility and Transparency) Amendment Bill would ensure the ACC scheme was managed in a fiscally responsible way.
Kaye said amongst other things the bill would embed principles of financial responsibility into the Act to provide a framework for funding and levy setting for the levied accounts. It would also require the government to establish a funding policy for the levied accounts and specify stronger reporting requirements to provide greater transparency on the decisions taken and their downstream consequences.
Labour Leader Andrew Little said the ACC scheme was dear to the heart of his party. The bill merely proscribed what could already happen. Labour would support the bill to select committee, but it appeared to do nothing but codify what happened now.
The bill completed its first reading on a voice vote and was sent to the Transport and Industrial Relations Committee for consideration.
MPs began the first reading of the Electronic Monitoring of Offenders Legislation Bill.
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