Today’s move by the New South Wales Government to reduce WorkCover premiums by 10 percent puts pressure on the Victorian Government to make the Victorian scheme even more competitive, says VECCI

The NSW premium reduction represents a $290 million discount per year for 250,000 employers in NSW and is in addition to the five per cent ($140m) reduction announced in November 2005

"Victorian employers recently indicated to VECCI in a Pre-Budget Survey that premium levels are still a significant business cost", says VECCI Chief Executive Officer, Mr Neil Coulson.

"In light of improved safety results and the resulting strong financial performance of the Victorian WorkCover scheme, we believe further WorkCover premium cuts are achievable in Victoria.

"As such, we are calling for a further flat 10 percent premium reduction in the next State Budget", says Mr Coulson.