|Master Electricians Australia today endorsed the State Government’s decision to lower WorkCover Queensland’s premium rate, saying it would reduce costs for businesses and secure more Queensland jobs in the electrical industry.WorkCover Queensland now has the lowest average rate in the country, of just $1.20 per $100 in wages, since the change came into effect on July 1.
MEA Acting CEO Mark Dearlove said the Attorney-General Jarrod Bleijie’s commitment to lowering the WorkCover premium rate had made Queensland’s workers’ compensation scheme the best and fairest in Australia.
“The decision to lower premiums is a boon for Queenslanders as it will reduce business costs and ensure workers continue to receive the best safety protections and benefits,” Mr Dearlove said.
“Queenslanders can still be confident they are covered from the time they leave home for work right through until they return home as protections remain exactly the same.
“Earlier criticism to the changes to reform the Queensland workers’ compensation system were totally unfounded as the premium reductions will directly benefit the majority of WorkCover’s policyholders, and have the positive flow-on effect of easing cost of living pressures for all Queenslanders.”
The change represents an overall 17 per cent reduction for employers and is expected to inject $1 billion back into the Queensland economy over the next four years.
Queensland’s scheme still has the lowest common law threshold of any state at five per cent, other jurisdictions such as NSW, Tasmania and Victoria have thresholds of 15 per cent, 20 per cent and 30 per cent respectively.
Mr Dearlove said WorkCover was a heavy but essential cost of doing business and the Attorney-General’s decision to reduce premiums would simply ease the pressure on business owners.
“We commend the Queensland Government for this cost saving initiative during what has been a difficult time for our industry.”