The Government is maintaining current levy rates for the next 2 years, as part of a set of changes to help ease the financial pressures of COVID-19 providing certainty for businesses and New Zealanders, ACC Minister Iain Lees-Galloway says.
“New Zealanders and businesses are facing unprecedented financial pressures as a result of COVID-19. We’re taking practical steps to support levy payers throughout these difficult times, while also safeguarding the ACC scheme,” Iain Lees-Galloway says.
“We will be maintaining the current levy rates for the next 2 years. The economic outlook is uncertain, so holding levy rates is a prudent decision. It provides some certainty to businesses and other levy payers and gives ACC more time to reliably assess the impact of COVID-19 on its finances.
“The previous Government increased levies during the global financial crisis only to find they were too high in following years. We are taking a cautious approach and ensuring we do not add to pressure on businesses and New Zealanders where it’s not necessary.