Labour hid 1.5 BILLION ACC shortfall - Ministerial inquiry

**Tank** · 3rd March 2009, 10:53

http://www.nzherald.co.nz/politics/n...ectid=10559739

A ministerial inquiry into why a $1.5 billion four-year shortfall forecast in ACC's non-earners account was not revealed before the election has concluded the previous government hid it, Finance Minister Bill English said today.

The report found the shortfall in the non-earners account was known to ACC, the Department of Labour, Treasury, ACC Minister Maryan Street and Finance Minister Michael Cullen in time for it to be disclosed as a fiscal risk in the Pre-election Fiscal Update.

"The previous government knew about the funding hole and effectively hid it. There are systems in place to protect us from this, but in this case they did not work," Mr English said when issuing the report today.

Given "Its all about trust" - Here is the g'ment of the time deliberately hiding 1.5 BILLION in shortfalls purely for their own gain.

Given that they chose to deliberately hide it - do you think that charges should be laid?

**vifferman** · 3rd March 2009, 10:58

Your heading's wrong- should read "Billion"

**Blackshear** · 3rd March 2009, 10:59

Personally, yes.
That's a fair emount of monies.
Lock those suckers up!

**MisterD** · 3rd March 2009, 10:59

We need a wide-ranging enquiry into the endemic corruption in the last government and then we can bring charges.

**MadDuck** · 3rd March 2009, 11:09

Kind of explains why Cullen was so reluctant to give out tax cuts???

**JimO** · 3rd March 2009, 11:10

wouldnt that be nationals fault now they are in, would be according to skyhumper

**The Stranger:Me** · 3rd March 2009, 11:13

Don't worry, skyrider will be along shortly to explain why it is all National's fault.

**Skunk** · 3rd March 2009, 11:19

Yep, lay charges. It won't happen; but it should. They are paid to be responsible... so they should be.

**Swoop** · 3rd March 2009, 11:29

Is there any possible way of making the Liarbour party an illegal organisation?

**Tank** · 3rd March 2009, 11:32

Originally Posted by Swoop

Is there any possible way of making the Liarbour party an illegal organisation?

Not Illegal - but I do believe that Darwin's law is culling most of them off.

**JacksColdSweat** · 3rd March 2009, 11:49

Originally Posted by MadDuck

Kind of explains why Cullen was so reluctant to give out tax cuts???

and so eager to resign...

Ooh!

**JacksColdSweat** · 3rd March 2009, 11:51

Originally Posted by Skunk

Yep, lay charges. It won't happen; but it should. They are paid to be responsible... so they should be.

Funnily enough EXACT same thing when they lost in 1990 and we wound up with the Fiscal Responsibility Act which is supposed to save us from this...

**MisterD** · 3rd March 2009, 12:03

Originally Posted by JacksColdSweat

Funnily enough EXACT same thing when they lost in 1990 and we wound up with the Fiscal Responsibility Act which is supposed to save us from this...

Which just goes to show, the most reliable way to acheive a stuffed economy is to elect a Labour government...ask the UK.

**Skyryder** · 3rd March 2009, 12:24

Originally Posted by Tank

http://www.nzherald.co.nz/politics/n...ectid=10559739

A ministerial inquiry into why a $1.5 billion four-year shortfall forecast in ACC's non-earners account was not revealed before the election has concluded the previous government hid it, Finance Minister Bill English said today.

So English claims it was deliberatly hidden.

http://www.nzherald.co.nz/business/n...ectid=10559630

You could then argue that they were so occupied with hiding ACC's shorfall but you could also argue that the ministry is incompetant. I seem to recall Cullen and the ministery finding some extra cash that they did not know they had. So I'd go for incompetance. But I doubt if English is going to renounce his confidence in Ministery officals as Collins did with Mathews, not when they give him politcal ammunition.

Oh and it's a four year projected shortfall. Not an actual one.

This bullshit from English

is nothing more than a PR campaign to soften up the public for the sale of ACC to private providers.

Fuck me it's so obvious that even some of my friends who are Nats are surprised at the publics gullibility of their party.

Skyryder

**BBzz** · 3rd March 2009, 12:25

Originally Posted by Tank;1962431
[

A ministerial inquiry into why a $1.5 billion four-year shortfall []

That’s a lot of cash. It’s amazing how they can get it soooo wrong.
The other Problem we will have now is how will they get it back???
The ACC part of Registration for Bikes is so up there now.
CRAP

what are these turkeys downing with it all.