BREAKING NEWS
Man dies in police handcuffs ... Read more
Close

Motor vehicles miss out in $387m of ACC cuts

TRACY WATKINS
Last updated 16:32 02/12/2013

Relevant offers

News

Someone splashed down $350,000 on a Apollo Ford Mustang Our best $30,000 family cars BMW revamps little and large Basin Reserve flyover alternatives did not need a thorough assessment - NZTA Wellington bus system narrowed down to two options for rapid network Jeremy Clarkson, Top Gear presenters sign with Amazon for new car show Basin flyover: NZTA should have done more with 'envelope sketch' of Option X How a bulletproof police car is tested Priority to cyclists lead motorists on a collision course Audi RS4 to be a V6

The Government has announced cuts of $387 million to ACC levies but motor vehicle owners will have to wait more than a year for relief.

ACC Minister Judith Collins announced the cuts today, but said the Government could not act immediately on cuts to motor vehicle levies recommended by ACC because that account was not yet fully funded.

Cuts to motor vehicle levies, which include car licensing and petrol prices, would take effect from July 1, 2015. The other cuts would take effect next year.

Other cuts recommended to the workers and employers levies would be implemented, however.

"The average New Zealand household can expect to keep just over $200 each year. Small businesses will also be around $180 better off annually and larger employers will receive on average a $6000 reduction."

Collins said the cuts largely reflected the earners account paid by workers and the work account paid by employers being fully funded.

"This means there is enough money in those accounts to cover the ongoing cost of claims."

Ad Feedback

- Business

Special offers

Featured Promotions

Sponsored Content