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Issue No. 223 | 04 June 2004 |
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Last Year�s Model
Interview: The New Democrat Bad Boss: The Ugly Australian Unions: Free Spirits and Slaves Industrial: National Focus History: A Class Act International: Across the Ditch Economics: Home Truths Review: No Time Like Tomorrow Poetry: Silent Note
The Soapbox The Soapbox The Locker Room Politics
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News Big Business Plan to Cripple Compo
State Governments, unions and small businesses have slammed the prospect of Australia's largest companies being allowed to 'self-insure' for workers comp; leaving small businesses carrying the burden of insurance premiums. . "Insurance premiums for the employers left in the pool would be significantly increased," says NSW Labor Council OH&S Officer Mary Yaager. "It is irresponsible for the Feds to suggest this and clearly demonstrates that they want to look after the big end of town." NSW Industrial Relations Minister John Della-Bosca echoed her sentiments: "We have seen in the Federal industrial relations system what the Howard Government's motives are. Their record has been one of minimising employer responsibilities and reducing workers rights. In workers compensation, we don't want a minimalist scheme, one that strips back protections. Government should not be about the lowest common denominator." Helen Ridout from the Australian Industry Group told the Financial Review that there was no doubt the move would affect small business. The proposal by the productivity commission could spell the death knell for smaller schemes, such as that of the ACT. "It would appear that the Productivity Commission is proposing a model that would allow large national and multinational companies to withdraw from the ACT private-sector workers' compensation scheme," says ACT Industrial Relations Minister Katy Gallagher. "This would reduce the size of the ACT workers compensation pool dramatically, leaving small business in the ACT facing escalating premiums to support a very small scheme that is unable to derive economies of scale in administration costs and regulatory costs." The Productivity Commission report strongly recommends that the Government give national employers the option to self-insure, and is confident that its recommendations will be accepted, according to associate commissioner Gary Johns. Industry commentators believe the findings, if accepted, will benefit big companies, such as Woolworths, Westpac and BHP at the expense of many smaller operators.
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