MEMBER for Northern Tablelands Adam Marshall today welcomed new figures showing the electorate’s 175 medium to large businesses would save around $700,000 in workers compensation premiums compared to last year, thanks to initiatives introduced by the State Government.
Mr Marshall said the figures were part of a broader information release by Finance Minister Dominic Perrottet, showing how medium-large employers with a good safety record would save on their workers compensation premiums this year, through a combination of new premium calculations, incentives and discounts.
“Reforms introduced by the government mean businesses which do the right thing to keep their workers safe will benefit from lower premiums,” Mr Marshall said.
“Businesses across the Northern Tablelands generally have very good safety records and these premium reductions will free up vital capital that can then be reinvested in other parts of the business.
“The savings mean that premiums for some businesses will be among the lowest in the country. This is a clear signal that it pays to keep your workers safe and to help them return to work when they are injured.”
Mr Perrottet said that businesses that do the right thing should be rewarded.
“The NSW Government has created a workers compensation system that is fair, sustainable and person-centred,” Mr Perrottet said.
“Our superior financial management means we can reduce the burden on business while better helping injured workers.”
Mr Marshall said that a two-year grace period would be extended to help businesses with higher than average claims to improve their safety records. Support will also be provided to help employers identify and fix the causes of workplace accidents.
Businesses will see the changes in their renewal notice, issued in recent weeks. For further information about the reforms to the NSW workers compensation system, visit http://insurancereforms.nsw.gov.au