Member for Baulkham Hills David Elliott today welcomed a further reduction to WorkCover premiums while confirming the Scheme is now back in the black for the first time since 2008.
It means small employers in Baulkham Hills will benefit from an average premium rate reduction of 5.2 per cent.
“The NSW Government’s reforms are delivering a fairer system, with more generous payments being provided to severely injured workers, and Baulkham Hills businesses receiving incentives to improve workplace safety,” Mr Elliott said.
“These premium cuts are on top of an 8.43 per cent rate cut that came in earlier this year for Baulkham Hills employers.
“With these reductions combined, Baulkham Hills small businesses will receive an average 13.2 per cent rate reduction in the 2013 premium cycle.”
Mr Elliott said the former Labor government ran WorkCover into the ground, leaving behind an unsustainable scheme with a $4.1 billion deficit.
“The NSW Liberals & Nationals were determined to clean up the mess left behind by our predecessors, and pleasingly, we’ve been able to put WorkCover back on a sustainable footing,” Mr Elliott said
“The NSW Government’s reforms are freeing up businesses to grow and are providing better support for injured workers to help them return safely to work sooner.
“Returning to work early and safely is good for recovery and helps workers regain financial independence sooner.
“Safe Work Australia has reported that in 2012/13, NSW’s return to work rate improved by three per cent to 88 per cent – making it higher than the national average of 86 per cent.
“This result is a key driver in WorkCover’s improved performance, with the scheme accumulating a $309 million surplus as of 30 June 2013.
“This is a great result for Baulkham Hills workers and employers. There is now adequate funding to protect injured worker payments while rewarding employers for good safety performance.”
Small employers are continuing to benefit from incentives introduced in June including:
- an Employer Safety Incentive(ESI) premium discount at each policy renewal
- a Return to Work Incentive for employers who have an injury in the workplace. An employer can retain their ESI discount provided injured workers return to work within 13 weeks
- an increased discount to five per cent for paying their premium in full by the due date.