Nats confirm ACC plans
National Party leader John Key has been forced to confirm plans to open workplace accident insurance to private competition, but has denied that amounts to privatising ACC. His comments followed revelations by The Dominion Post that a Merrill Lynch broker's report tipped Australian insurers to make a $200 million killing if National went ahead with an "informal" plan to privatise ACC. Insurance companies expect National to privatise ACC, but their would-be customers, the business community, are surprisingly unenthusiastic. Insurance Council chief executive Chris Ryan said there was an appetite among insurers to re-enter the workplace accident compensation market. The Merrill Lynch report suggests privatisation could unlock $2.1 billion in new premium income. Mr Key once worked for Merrill Lynch. Prime candidates for privatisation were the workers' compensation and motor accident accounts.
Isn’t that interesting, it’ll be Johns mates at Merrill Lynch who will benefit from this privatization of ACC – but John promised no privatization in the first term under National, and this is the rub of course – National once in can make any excuse to privatise, or they can do it in a sneaky way, look at the new prison National want to build because their crime policy will be so hard on crime, they will most likely tender the building and the running of the prison out to a private company, thus introducing privatization by stealth. 3 years ago National had a secret privatization agenda that they had no intention of telling the electorate about, with less than 5 months we still have no idea what National party policy is, and I think those NZers who have left Labour for National do so because their hip pocket is wounded and they are thrashing around looking for s change without really knowing what it is that National will implement and I think those recent converts will be horrified with what Nationals true agenda is.
Didn't they try to privatise ACC a few years ago and it didn't work? I seem to remember at one point the onus was put on the employee to ensure they were covered...
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This is a terrible idea. As Bomber says only the rich multinational insurance companies will benefit. National finally revealing their true colours.
ReplyDeleteAbout time.
ReplyDeleteMe and my friends aren't poor, and buying shares in Merril Lynch would be a very good investment when National is in power.
I pay ACC (unlike bomber and co.). May as well get some of my money back.
NS - Wikipedia tells me the National Party introduced workplace insurance competition for ACC - exactly what John Key is talking about - for about 5 months in 1999 before it was reversed by the new Labour Govt.
ReplyDeleteI hate to say it, but Bomber's zealous-simplistic portrayal of National as capitalist-crazies actually strikes me as accurate in THIS ONE ISSUE.
With my little knowledge of privatised healthcare gleamed from Michael Moore's leftie Sicko, privatising ACC would be horrible.
Is there anyone out there who knows what they're talking about with ACC who can tell us the pro's/cons?
Despite the can of worms being opened on our present corrupt,inept,$100,000per prisoner per year you're against privitisation.I think give it a go,I'm sure a prison being run with profit as the motivation will bring some great results,something as rare as hens teeth in govt depts.
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