Labour looks at going back to huge unfunded liabilities for ACC

Fran O’Sullivan reports:

Labour says it would consider widespread changes and might look at a “pay as you go” scheme rather than fully funding ACC in the future – should it become Government.

This would be a huge reckless step backwards. It was actually Labour that started to implement full funding, and very sad to see them backtrack on it.

If you go back to non fully funded levies, then you end up with ever increasing unfunded liabilities. Even worse the Government can make eligibility decisions that will have a huge impact in the long-term, but will escape scrutiny if levies are on a pay as you go basis. It allows Labour to massively increase costs, with the bills being left for future levy payers.

Once again we see Labour moving to the left of the Helen Clark Government. They have learnt nothing.