So now that they've cranked up the ACC rates, but haven't actually started charging them yet, suddenly everything is rosy.
Time to start selling to the highest bidder then....
A year ago he was criticising the Accident Compensation Corporation, but today ACC Minister Nick Smith is praising it, talking up what he says is a major financial turnaround for the corporation.
Dr Smith says demand on the non-earners' account is now stable, its solvency ratios have improved and its investments are performing well. He is pleased ACC has seen a three percent drop in cost claims this year and is forecasting only a minor increase next year.
"We are now looking at a steady path forward that the corporation can maintain to meet fully funding, i.e. 100 percent solvency by 2019."
Dr Smith is also impressed ACC has made administration savings of around $30 million this year. He says the decision on partially opening the scheme to competition is just months away and if the Government does decide to make changes, substantial legislation would be required.
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