Sunday, October 11, 2009

ZenTiger Time for a second opinion

Are ACC accident prone? Two years ago, they managed to blow 2.4 billion dollars, last years figures show another 4.8 billion net losses. That's over 7 billion bucks in 2 years.

There are only 4 million or so people in NZ, and a big chunk of them, plus businesses, car registration fees and probably several other sources all have mandatory contributions to ACC to fund its costs.

7 billion lost in 2 years seems a bit dodgy to me. Actually, the more I think about it, the less likely this was an accident. Will that stop them from claiming more from the tax payer? Unfortunately not. Whilst the hole continues to be dug deeper, ACC levies are going to be shooting up across the board. That means more taxes.

I think it's time for a second opinion.

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