Victorian businesses will have their WorkCover premiums frozen for 12 months as the Liberals and Nationals secure key concessions to Labor’s WorkCover reforms.
Following years of mismanagement under the Labor Government, WorkCover is fundamentally broken and on the brink of financial collapse.
After negotiating and widely consulting with employers, employees, allied health representatives and return to work specialists, the Victorian Liberals and Nationals have secured the following key changes to Labor’s WorkCover reforms:
- A WorkCover premium freeze at the current average of 1.8 per cent of remuneration for the 2024-25 financial year.
- An independent inquiry to review the impact of these new reforms on WorkCover, which will report back to Parliament by the end of 2024.
- Establishing the Return to Work Advisory Committee as a sub-committee of the existing WorkCover Advisory Committee, drawing from an expanded membership and chaired by the WorkSafe board chairperson.
- Clarity around the structure and objectives around Return to Work Victoria, which will provide greater support to injured workers.
- An additional consultation process with core business, union and health stakeholders to take place next week.
Shadow Minister for WorkCover, Cindy McLeish, said: “Businesses and workers shouldn’t be the ones to pay for Labor’s mismanagement of Victoria’s WorkCover scheme.
“The Liberals and Nationals have secured a critical freeze to WorkCover premiums, which will provide much needed financial relief to businesses across the state.
“Further, there will now be much greater oversight of the operation of WorkCover to help the scheme become sustainable into the future.
“There is no silver bullet to fix Labor’s mismanagement of WorkCover, but these concessions give greater certainty for businesses and will help deliver a better scheme for all Victorians.”
