Wrong Answer Nick

Why is that when politicians and Directors of SOEs and Government Bodies find themselves with excess costs over income their answer is always increased taxes, levies or some other theft from the taxpayers seemingly bottomless purse.

That is the wrong answer and Nick Smith and the board of ACC have the wrong answer.

They state quite clearly what the problem is with ACC but are they prepared to do the hard yards?

This $4.8b loss will go down in New Zealand history as the biggest corporate loss of any entity, public or private, and is actually bigger than any deficit that the government has run collectively across all portfolios.”

ACC’s total liabilities over the past four years has blown out from $9.4b to $23.8b, mostly due to an increasing number of claims, a widening of entitlements that could be claimed, such as self-harm, and the actual cost of meeting the claims.

Well here’s some thoughts, novel it seems in government circles, how about removing those widening of “entitlements”?

How about opening up our largest insurer to some competition?

How about an opt-out scheme? If the debt is $3000 per Kiwi I am 100% sure I can find better cover than ACC “gives” me at a far better cost than that ridiculous amount and that is just the debt side of ACC.

We need to be saying no to more taxes and more levies and more purse dipping by politicians. Enough is enough. Start taking an axe to the “entitlements”. This country is broke and we need to face reality. If these politicians and board members won’t do what is necessary then it is time for us to find some who will.

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